- Strategically Located in North McAllen Medical Corridor
- Proximate to Major Employers and Entertainment
- Below Market Rent Offers Significant Upside
- $100/Unit per Month Value-Add Opportunity
- High Historical Occupancy in the Immediate Submarket
Strategically Located in North McAllen Medical Corridor
Situated in the heart of North McAllen’s bustling Medical Corridor, Dove Cove presents a prime investment opportunity with its strategic location proximate to major employers and entertainment hubs.
Texas boasts a business-friendly environment, with no state income tax and various incentives for real estate investors. This advantageous investment climate, combined with McAllen’s growth potential, creates a favorable landscape for maximizing returns.
Proximate to Major Employers, Entertainment, and Universities
Residents of Dove Cove enjoy unparalleled convenience, with Walmart, Sam’s Club, HEB, and South Texas Health Systems all within easy reach. This appeals to tenants seeking accessibility and convenience.
South Texas College’s (total enrollment nearly 29,000 students) Pecan Campus is roughly ten minutes from the property. The University of Texas Rio Grande Valley (total enrollment over 32,000 students) is fifteen minutes from the property.
Dove Cove is located in the heart of McAllen’s rich cultural center, offering plenty of options for entertainment. The property is only a mile and a half away from the International Museum of Art and Science, four miles from the McAllen Heritage Center, and five miles from La Plaza Mall, the premier shopping destination in the Rio Grande Valley featuring over 1,300,000 square feet of upscale retail and restaurant space.
Below Market Rent Offers Significant Upside
Dove Cove presents substantial upside potential with below-market rent, allowing investors to capitalize on increased cash flow and enhance overall property value by optimizing rental rates to align with market standards. While current annual income stands at $326,000, we project this can be increased to $408,300 simply by raising rents to market rate. Considering comparable properties in the market, this could be achieved with no cosmetic upgrades to the units.
