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For Auction

REO: Royal Oaks Apartments | McAllen TX

3101 North 8th Street,
McAllen, TX 78501Represented by
Houston Income Properties, Inc.

Asset Snapshot

Real Estate
Asset Type
Multifamily
Property Type
Garden
Multifamily Subtype
1977
Year Built
2
Floor Count
10
Building Count
2.73 Acres
Land Area
81 Units
Unit Count
1,126 SF
Average Unit Size
93,002 SF
Property Size
74.07%
Occupancy
Occupancy As Of

Offering Summary

Tour Dates by Request:
Tuesday, April 22nd, 2025 from 11:00AM thru 1:30PM
Wednesday, May 14th, 2025 from 11:00AM thru 1:30PM


Investment Highlights

  • Value Add Opportunity with continued improvements and by bringing the 17 down units on-line
  • REO Property with motivated seller
  • 81 Units located in an "A" area of McAllen, Texas
  • Located Across from an HEB Shopping Center and near a BMW Dealership
  • Clean Property with over 350K in recent exterior renovations, mostly new roofs - both pitched and flat
  • Upgraded laundry facility
  • Individual hot water heaters
  • Larger than average unit sizes


Offering Summary 

RI Marketplace and Houston Income Properties are pleased to present The Royal Oaks Apartments (Subject Property). The Subject Property is an 81 unit, value add investment opportunity located in the heart of Downtown McAllen, TX. The property was foreclosed on due to storm damage that left 17 units down. The current owner has expended over $350K in exterior improvements which includes the replacement of many of the roofs. There is good upside potential with continued improvements and by bringing the storm hit units back on line.  The excellent location and rent potential of the property makes the asset a good play for a potential buyer.

Due Diligence

Transaction Managers

Damian Smoter
Marketplace
(800) 915-7015dsmoter@realinsight.com
Eric Kim
Marketplace
(800) 915-7015ekim@realinsight.com

Platform Fee

Buyer pays platform fee at closing.

5% or $25,000 minimum

How it Works

Learn about bidding, reserve prices, and closing.

Read the auction guide

Auctioneer

Lamar P. Fisher
Fisher Auction Company Inc.
License: 10344

Need Help?

Your transaction managers are your first point of contact for any auction or process questions. For additional support:

info@rimarketplace.com800-915-7015

Sold Subject To

This auction has ended. Interested in additional investment opportunities?

Investment Sales Brokers

Jim Hurd
Houston Income Properties, Inc.
TX License: 323851
(713) 783-6262jhurd@houstonincomeproperties.com
Tom Wilkinson
KET Enterprises Incorporated
TX License: 0406902
(713) 628-9408twilk4@ketent.com

Disclaimers

The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.