Luxury Apartments is a 48-unit garden-style community located at 1000 E Stenger Street in San Benito, Texas. Built in 2006, the property is comprised of six two-story buildings situated on a 3.23-acre site. The unit mix includes 23 two-bedroom/one-bath units, one two-bedroom unit currently utilized as a leasing office, and 24 three-bedroom/two-bath units. The property maintains strong performance with current occupancy of 94% and has consistently ranged between 95% and 98% historically, underscoring the steady rental demand in the Rio Grande Valley. Recent capital improvements include roof replacements with high-impact shingles, double-pane windows, and a hurricane drainage system. Each unit is separately metered for water and electricity, reducing ownership utility expenses and improving operational efficiency.

Residents benefit from well-designed floorplans that feature open living areas, fully equipped kitchens, central air conditioning, walk-in closets in select units, and private balconies or patios. Community amenities include landscaped common areas, ample surface parking, perimeter fencing with controlled access, and security cameras throughout. The property also provides multiple avenues for future growth, including city approved plans to construct 16 additional one-bedroom units on the front parcel and the opportunity to convert the current leasing office into an income-producing unit. Current in-place rents remain below market, creating near-term upside through light interior renovations and rental increases. Supported by strong regional economic drivers such as the SpaceX Starbase in Boca Chica, LNG pipeline projects, and a new Amazon logistics facility under construction, Luxury Apartments is well-positioned to capture both rental growth and long-term appreciation, offering investors a compelling value-add opportunity.