This ± 12,430 sf (.29 Ac) lot is situated in a medium-sized apartment complex community in Mission, TX. The lot is zoned for multifamily development, and is surrounded by approximately 38 multifamily lots, 30 of which already contain complexes that were built in the early 2000s/10’s. The adjacent 8 ‘plex sold in April of 2021 for $60/sf, but newer complexes with higher rents are sure to sell for more. Market rents in Mission are $1.02/sf/m for one-bedroom units, $0.88/sf/m for two-bedroom units, and $0.72/sf/m for three-bedroom units. Whether you are looking to build and hold or build and sell, this is an excellent piece of property to do either!
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