1200 Nolana Ave | McAllen, TX 78504
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1200 Nolana Ave
McAllen, TX 78504
The Luke Apartments · Multifamily Property For Sale · 144 Units
Investment Highlights
- - Current ownership has renovated 58% of the units, commanding a $110 premium over effective rents
- - Most units offer spacious walk-in closets and an upstairs balcony or downstairs patio
- - The property is located in a premier school district with high, 1-mile medium HH income of $88,604
- - Interior renovations include new luxury vinyl tile or carpet, two-tone paint, updated/replaced cabinets & counter tops, modern lighting fixtures, an
- - New ownership, based upon similar area rent comps, can raise rents by an average of $154/unit/month
- - The Luke offers diverse floor plans as 61% of the units are two-bedroom or three-bedroom options
PROPERTY FACTS
| No. Units | 144 | Building Size | 129,688 SF |
| Property Type | Multifamily | Average Occupancy | 90% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1973/2022 |
| Building Class | C | Parking Ratio | 2.19/1,000 SF |
| Lot Size | 3.53 AC |
| No. Units | 144 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.53 AC |
| Building Size | 129,688 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built/Renovated | 1973/2022 |
| Parking Ratio | 2.19/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Heating
- Ceiling Fans
- Granite Countertops
- Refrigerator
- Tub/Shower
- Grill
- Freezer
- Garden
- Office
Site Amenities
- 24 Hour Access
- Fitness Center
- Laundry Facilities
- Security System
- Tenant Controlled HVAC
- Grill
- Maintenance on site
- Green Community
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 56 | - | 655 |
| 2+1 | 8 | - | 821 |
| 2+1.5 | 28 | - | 955 |
| 2+2 | 22 | - | 1,075 |
| 3+2 | 24 | - | 1,131 |
| 3+2.5 | 6 | - | 1,570 |
zoning
| Zoning Code | R-3A |
| R-3A |
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