Palms Cabana, the centerpiece of a divided portfolio, was built in 2008 and 2009 and features 57 2/2s and 19 1/1s, and each unit is housed in its own freestanding building. Occupancy is strong in this gated community, and the grounds and improvements are well maintained by current owner's property management company.

Key Points: $684,000 commanded in gross scheduled rent 50% Expense ratio Currently offered at 5.85% cap, but eager to receive competitive offers Proximity to the main thoroughfare in the Rio Grande Valley

Built: 2009

Units: 76

The Property is For Sale

Asking Price: $5,900,000

Building Size: 77,816 SQ FT

Lot Size: 261360

Cost per Square Foot: $75.82

Cap Rate: 5.86%

NOI: $345,804.01

2900 N Texas Blvd
Weslaco, Texas 78596
United States

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Cindy Hopkins, CCIM