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Penitas, TX Multifamily Home for Sale

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    $699,000

    • 10,164 Sq Ft

    1502 Diamond Ave, Penitas, TX 78576

    Attention All Investors! Don't miss this incredible investment opportunity! Just north of U.S. 83 (I-2), is a well maintained 8-plex in the thriving area of Penitas, TX, with a proven rental history and steady income generation. This property features seven spacious 2-bedroom units and one 3-bedroom unit, which are all currently occupied (leased), ensuring immediate cash

    Marisol Morris Berkshire Hathaway Homeservice

    1502 Diamond Ave, Penitas, TX 78576

Why Live in Penitas

Penitas, Texas, is a growing suburban community located along the Rio Grande in the South Texas Plains. Known for its strong Latinx culture, Penitas offers a blend of suburban living with access to larger city amenities. The area is experiencing development with the expansion of major thoroughfares like Interstate 2 and Expressway 83, bringing new businesses and investment opportunities. Homes in Penitas often feature neo-traditional styles with Spanish influences, including stone and stucco exteriors and spacious layouts, set on generous lot sizes averaging half an acre. The La Joya Independent School District serves the area, providing students with strong academic programs and extracurricular activities. Penitas City Park is a central recreational hub, complemented by attractions such as Quinta Las 4 Lunas Waterpark and the La Joya ISD Aquatic Center. The Las Palomas Wildlife Management Area offers nature preserves and seasonal hunting. Commerce is thriving along Expressway 83, with a mix of mom-and-pop shops and fast-food chains, alongside a vibrant food truck scene at The Picnic at Penitas. Cultural events, including the Penitas White Wing Festival, celebrate the community's heritage. Major roads connect Penitas to nearby cities like Mission and McAllen, with McAllen International Airport just 16 miles away, providing convenient travel options.

Home Trends in Penitas, TX

Housing Trends

Median Sale Price
$255,000
Median Single Family Sale Price
$360,000
Average Price Per Sq Ft
$179
Number of Homes for Sale
3
Last 12 months Home Sales
12
Months of Supply
3.00
Median List Price
$365,000
Median Change From 1st List Price
5%
Median Home Sale Price YoY Change
30%
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