Property Listing No Longer Available for Sale

1200 Nolana Avenue, McAllen, TX

Multi-family for Sale - $6,200,000 - 132,300 Sq. Ft.


Property Info

CIMLS#650941
Location
  1200 Nolana Avenue
  McAllen TX 78504
UpdatedOctober 2nd, 2013
TypeMulti-family
Price$6,200,000
Building132,300 Sq. Ft.

Property Description

Excellent unit mix with 8 different floor plans to choose from including flats and 2-story townhome layouts. Spacious units average over 900 sq. ft. in size and feature new/recent or soon-to-be replaced frost-free refrigerators, dishwashers, electric stoves, electric powered vent hoods, ceiling fans, mini-blinds, and updated lighting and sink hardware. Some deluxe units have crown molding, custom kitchen cabinet hardware, accent wall paint scheme, and tile flooring on downstairs units. Recent new roof and sewer replacements on buildings as needed.

Location Description:

The property is located in the most-desired, fast-growth north-central quadrant of the City of McAllen. According to the Milken Institute, the McAllen MSA is ranked 4th in the nation and #1 in the State of Texas in the creation of new jobs at a rapid pace. The immediate neighbor directly across the street to the south is the Ben Milam Elementary School, one of the few top-rated, exemplary schools in the McAllen ISD. Immediately to the west is the highly regarded Central Christian private school. Immediately to the east is the Northcross Shopping Center, one of the premier shopping centers serving the north McAllen market area, providing easy walking distance access to numerous retail stores and restaurants. It is located on the northwest corner of the intersection of Nolana Avenue and 10th Street, the highest traffic count intersection in McAllen, with over 110,000 cars per day passing by. To the north and further to the south, east and west of the property are extensive established SFR subdivisions.

Highlights:

>> Professional Management Team In Place

>> Excellent Unit Mix With 8 Floor Plans - Flats & TH

>> Spacious Units With Average Unit Size Over 900 sf

>> Top-Rated Schools; Upgrade Potential or Condo Conv

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Financials