Heather Apartments

    • 1000 East US Highway 77
    • San Benito, TX 78586

INVESTMENT HIGHLIGHTS

  • Number of Units: 72
  • Occupancy: 97%
  • Opportunity for Expansion
  • Sales Price: $3,528,000
  • Acres: 3.14
  • Easy Access to Highway 77 and Downtown Harlingen

EXECUTIVE SUMMARY

Independence Commercial Advisors has been exclusively retained by the seller, in connection with the sale of Heather Apartments, a 72-unit, value-add apartment investment in San Benito, Cameron County, Texas. Heather Apartments consists of 28 one-bedroom, 40 two-bedroom, and 4 three-bedroom floor plans. The property is located just four miles from downtown Harlingen. Heather Apartments is currently positioned to produce a year-one cash-on-cash return of approximately 13.54 percent. The property presents great value by rolling over new leases to the current market rent roll, as well as reducing expenses. There is also the opportunity to increase rents with light interior enhancements.

REQUEST OFFERING MEMORANDUM