Optimal Unit Mix

• With a focused mix of 50 multi-bedroom units composed entirely of 2-bedroom and 3-bedroom floor plans, averaging 1,281 square feet, the asset is well-positioned to serve a broad and durable tenant base, including families and working professionals seeking larger, more functional living spaces. The property’s exclusively larger unit configurations—featuring 1.5- and 2.5-bath layouts—support premium rent positioning, longer average lease terms, and reduced turnover costs, contributing to stable occupancy and sustained operational efficiency.

Tight Rental Market

• Harlingen, Texas benefits from a fundamentally strong and supply-constrained rental market, supported by stable population trends, limited new multifamily development, and consistent demand for quality housing. Vacancy rates remain low across the metro, reflecting healthy absorption and minimal competition from new deliveries. This persistent supply and demand imbalance has driven steady rent growth and sustained high occupancy levels. The subject property is well positioned to capitalize on these favorable market conditions, offering investors a stabilized multifamily asset with durable cash flow in one of South Texas’s most resilient and underserved rental markets.

Clear Value-Add Opportunity

• Units at Harlingen Estates largely remain in classic condition, providing investors with a highly attractive value-add opportunity. Targeted interior upgrades—including replacing cabinet fronts, upgrading appliances, and expanding covered carport availability throughout the community—can unlock rental premiums by better aligning the asset with higher-quality comparable properties in the submarket.

New Roofs

• The property features brand new roofs installed in 2023 across the entire community, significantly reducing near-term capital expenditures and ongoing maintenance risk.