Situated in a quiet corner of South-East Mercedes, this 11 unit apartment complex is less than 5minutes away from the RGV Premium Outlet Mall.
ZACH SUNDERLAND // CHRE // 312 E Harrison Ave // Harlingen, TX 78550 // 956.975.7481 // chopkinsrealestate.com
M U L T I F A M I L Y P R O P E R T Y F O R S A L E
D E S A N T IA P A R T M E N T S
MERCEDES, TX
S MILE 2 1/2 E
620
CINDY HOPKINS REAL ESTATE312 E Harrison Ave // Harlingen, TX 78550
956.975.7481 // chopkinsrealestate.com
The information contained herein was obtained from sources deemed reliable; however, CHRE makes no guaranties, warranties or representations to the completeness or accuracy thereof. The presentation ofthis real estate information is subject to errors; omissions; change of price; prior sale or lease; or withdrawal without notice.
Sale Price: $650,000
Building Size: 10,500 SF
Lot Size: 0.947 Acres
Number Of Units: 11
Price / SF: $61.90
Cap Rate: 5.05%
NOI: $32,806
Year Built: 2007
Zoning: Commercial
Market: Rio Grande Valley
Submarket: Mercedes
OFFERING SUMMARY PROPERTY OVERVIEW
Located only minutes away from the Rio Grande Valley Premium Outlet Mall, thiseleven unit apartment complex is extremely well maintained and well managed. Eachunit is fully equipped with all appliances (refrigerator, stove, washer, and dryer), andevery unit features tile floors and tray ceilings. The eight 2/2s rent for $700/month,and the three 1/1s rent for $550/month. Two of the 2 bedroom units are handicapaccessible. These spacious apartments have exceptionally functional floor plans thatleave them never in want of potential lessees.
PROPERTY HIGHLIGHTS
• 5 minutes from the RGV Premium Outlet Mall
• 8 x 2/2s @ $700/month
• 3 x 1/1s @ $550/month
• Large, grassy lawn
• Tenants pay their own water bills
• Carports
• 2 Handicap accessible units
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EXECUTIVE SUMMARY
CINDY HOPKINS REAL ESTATE312 E Harrison Ave // Harlingen, TX 78550
956.975.7481 // chopkinsrealestate.com
The information contained herein was obtained from sources deemed reliable; however, CHRE makes no guaranties, warranties or representations to the completeness or accuracy thereof. The presentation ofthis real estate information is subject to errors; omissions; change of price; prior sale or lease; or withdrawal without notice.
Sign
Fully gated/fenced with large, grassy yard Rear of apartments
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PHOTOS
CINDY HOPKINS REAL ESTATE312 E Harrison Ave // Harlingen, TX 78550
956.975.7481 // chopkinsrealestate.com
The information contained herein was obtained from sources deemed reliable; however, CHRE makes no guaranties, warranties or representations to the completeness or accuracy thereof. The presentation ofthis real estate information is subject to errors; omissions; change of price; prior sale or lease; or withdrawal without notice.
Dining room, restroom, and W/D closet Fully-equipped kitchen
Tray ceiling Living room
F O R S A L E
D E S A N T I A P A R T M E N T S
PHOTOS
CINDY HOPKINS REAL ESTATE312 E Harrison Ave // Harlingen, TX 78550
956.975.7481 // chopkinsrealestate.com
The information contained herein was obtained from sources deemed reliable; however, CHRE makes no guaranties, warranties or representations to the completeness or accuracy thereof. The presentation ofthis real estate information is subject to errors; omissions; change of price; prior sale or lease; or withdrawal without notice.
INVESTMENT OVERVIEW 2018 ACTUAL
Price $650,000
Price per Unit $59,090
GRM 7.9
CAP Rate 5.1%
Cash-on-Cash Return (yr 1) -2.59 %
Total Return (yr 1) $11,183
Debt Coverage Ratio 0.89
OPERATING DATA 2018 ACTUAL
Gross Scheduled Income $82,200
Other Income $0
Total Scheduled Income $82,200
Vacancy Cost $6,576
Gross Income $75,624
Operating Expenses $43,094
Net Operating Income $32,806
Pre-Tax Cash Flow -$4,204
FINANCING DATA 2018 ACTUAL
Down Payment $162,500
Loan Amount $487,500
Debt Service $37,010
Debt Service Monthly $3,084
Principal Reduction (yr 1) $15,387
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FINANCIAL SUMMARY
CINDY HOPKINS REAL ESTATE312 E Harrison Ave // Harlingen, TX 78550
956.975.7481 // chopkinsrealestate.com
The information contained herein was obtained from sources deemed reliable; however, CHRE makes no guaranties, warranties or representations to the completeness or accuracy thereof. The presentation ofthis real estate information is subject to errors; omissions; change of price; prior sale or lease; or withdrawal without notice.
Mercedes, TX
De Santi Apartments
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REGIONAL MAP
CINDY HOPKINS REAL ESTATE312 E Harrison Ave // Harlingen, TX 78550
956.975.7481 // chopkinsrealestate.com
The information contained herein was obtained from sources deemed reliable; however, CHRE makes no guaranties, warranties or representations to the completeness or accuracy thereof. The presentation ofthis real estate information is subject to errors; omissions; change of price; prior sale or lease; or withdrawal without notice.
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AERIAL MAP
CINDY HOPKINS REAL ESTATE312 E Harrison Ave // Harlingen, TX 78550
956.975.7481 // chopkinsrealestate.com
The information contained herein was obtained from sources deemed reliable; however, CHRE makes no guaranties, warranties or representations to the completeness or accuracy thereof. The presentation ofthis real estate information is subject to errors; omissions; change of price; prior sale or lease; or withdrawal without notice.
POPULATION 1 MILE 5 MILES 10 MILES
Total population 1,791 32,037 125,025
Median age 32.9 29.5 31.6
Median age (Male) 32.6 27.2 30.5
Median age (Female) 31.1 31.1 32.4
HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES
Total households 598 9,534 37,120
# of persons per HH 3.0 3.4 3.4
Average HH income $38,469 $36,562 $43,401
Average house value $84,787 $63,647 $61,024
* Demographic data derived from 2010 US Census
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DEMOGRAPHICS MAP
CINDY HOPKINS REAL ESTATE312 E Harrison Ave // Harlingen, TX 78550
956.975.7481 // chopkinsrealestate.com
The information contained herein was obtained from sources deemed reliable; however, CHRE makes no guaranties, warranties or representations to the completeness or accuracy thereof. The presentation ofthis real estate information is subject to errors; omissions; change of price; prior sale or lease; or withdrawal without notice.
TX #645169
ZACH SUNDERLAND
Broker Associate
[email protected]: 956.975.7481
PROFESSIONAL BACKGROUND
I knew I wanted to pursue a career in real estate after flipping a home during my sophomore year of high school for a school project. Ithoroughly enjoyed the work, the rewards, and the fulfillment of seeing a happy family living in a project I oversaw. Since then, I have pursuedevery opportunity to develop my understanding of the real estate industry and strengthen the skills that are vital to a successful career in it.During the summer of 2013 I was an intern at CHRE, whose broker, Cindy Hopkins, CCIM, taught me how to create Broker Price Opinionsutilizing data gathered from county appraisal districts, CoStar, Site to Do Business, and the TX Dot website. Under her guidance, I completedmore than 10 BPOs, updated her LoopNet account which featured more than 50 listings, and shadowed her when she met with clients. Themost important lesson Ms. Hopkins taught me was the importance of going the extra mile. The following summer I obtained my real estatesalesperson license which I immediately put to use by signing under Austin City Realty in order to lease apartments in the campus area. Ifacilitated upwards of 70 leases and 4 sales deal during my time with ACR, grossing over $40,000 in commissions. Working mostly in a selfdirected and a “figure-it-out-for-yourself” environment, this experience taught me how to qualify leads, follow up with all clients wherever theymay be in my sales funnel, and to always, always answer my cell phone. I have now moved back to my home town of Weslaco, located in aregion called the Rio Grande Valley, which is on the southernmost border of Texas. I work with Cindy Hopkins, CCIM, and I became brokeredmyself on 9/10/18. I'm having success breaking into the multifamily trade, and, someday soon, I'd like to own, manage, and develop my ownprojects. Although I'm young, I'm hungry for success and there's nothing I love more than getting deals done!
EDUCATION
University of Texas at Austin - BBA in Finance
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CHRE312 E Harrison Ave
Harlingen, TX 78550956.778.3255
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