About 221 Rafael Drive
Excellent investment opportunity in San Juan! Built in 2022, this modern fourplex features four spacious 3-bedroom, 2-bath units with approximately 1,114 sq. ft. each and combined monthly rents of $5,125. Offered at $509,000, the property generates $61,500 in annual gross income and an estimated $43,419 NOI, producing an attractive 8.53% cap rate based on the expenses provided. Three matching fourplexes are available and may be purchased individually or together as a 12-unit portfolio for $1,527,000. Combined, the portfolio generates approximately $184,500 in annual gross income with an estimated $130,257 NOI, maintaining an 8.53% cap rate—an outstanding opportunity to acquire newer construction with immediate income and long-term portfolio potential. And there's still room to negotiate - which means...an even BETTER CAP RATE.
Features of 221 Rafael Drive
| MLS® # | 514795 |
|---|---|
| Price | $509,000 |
| Square Footage | 4,286 |
| Acres | 0.24 |
| Year Built | 2022 |
| Type | Residential Income |
| Sub-Type | Quadruplex |
| Status | Active |
Community Information
| Address | 221 Rafael Drive |
|---|---|
| Subdivision | Carroll Estates |
| City | San Juan |
| County | Hidalgo |
| State | TX |
| Zip Code | 78589 |
Amenities
| Parking Spaces | 8 |
|---|---|
| Parking | Other Garage or Carport |
| Is Waterfront | No |
| Has Pool | No |
| Laundry Features | Laundry Closet, Washer/Dryer Connection |
| Community Amenities | Curbs, Sidewalks, Street Lights |
Interior
| Interior Features | Ceiling Fan(s), Dryer, Microwave, Washer |
|---|---|
| Appliances | Electric Water Heater, Microwave, Refrigerator, Stove/Range-Electric Smooth |
| Heating | Central, Electric |
| Cooling | Central Air, Electric |
| Total # of Units | 4 |
| # of Buildings | 2 |
Exterior
| Lot Description | Curb & Gutters, Sidewalks |
|---|---|
| Roof | Composition Shingle |
| Construction | Stone, Stucco |
| Foundation | Slab |
School Information
| District | PSJA ISD |
|---|---|
| Elementary | Clover |
| Middle | Austin |
| High | PSJA H.S. |
Additional Information
| Foreclosure | No |
|---|---|
| Short Sale | No |
| HOA Fees | $650 |
| HOA Fees Freq. | Annually |
| Property Insurance | $1,636 |
| Gross Income | $61,500 |
| HOA Association | Yes |
Listing Details
| Agent | Avinaash Nash Buxani |
|---|---|
| Office | WINNERS CIRCLE |
| Contact Info | 956-949-9337 |