Sixplex Apartment Building with Private
For Sale
$740,000
11003 N 36th Lane, McAllen, TX 78504
MULTI_FAMILY - McAllen, TX
Property Size5,901 SF
Lot Size0.36 Acres
Price / SF$125.40
Days on Market120
Property Features for 11003 N 36th Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Garage
Patio and Porch features
Patio
Fencing
Privacy
Appliances
Electric Water Heater, Dryer, Microwave, Refrigerator, Stove/Range, Washer
Subdivision
Stonebriar At Trinity Oaks
Lot features
Sidewalks, Sprinkler System
Elementary school
Garza
Middle school
Sharyland North Junior
High school
Sharyland Pioneer H.S.
Elementary school district
Sharyland ISD
Middle school district
Sharyland ISD
High school district
Sharyland ISD
Directions
Sprague and 29th St. keep driving on Sprague until La Lomita, enter 33rd St, and Frio is the first Street. Google Maps: https://goo.gl/maps/MdrCYrJSqGRHsW167
Standard status
Active
APN
S644300000000600
Size
5,901 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15880
HOA Fee
$600 Annually
Utilities
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Amenities
in-unit washer and dryer
private patio
Building Details
Year built
2023
Floors in Building
1
Number of units
6
Building materials
Stucco
Roof type
Composition
Listing Agency:
Effective Real Estate
(956) 322-8522
Listed By:
Jenny I. Avellaneda
(956) 250-7556
Added: Apr 16
Changed: Aug 13
Last Checked: Aug 13 at 9:06AM
MLS# 501168
Copyright © 2026 Greater McAllen Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2023-built stucco sixplex is designed for renter convenience and straightforward operations. Units include in-unit washer and dryer, stove/range, refrigerator, and microwave hood—along with a private patio. Each patio is paired with a grass area and sprinkler system, and the property includes privacy fencing. Heating is electric with central heating, and cooling is central air with electric service. The building has a composition roof, electric water heater, and rear alley access.
Parking is supported by 11 spaces, providing off-street convenience through the rear alley. Water service is public.
The property is configured with five long-term rental units and one unit operating as a short-term rental (Airbnb).
Parking is supported by 11 spaces, providing off-street convenience through the rear alley. Water service is public.
The property is configured with five long-term rental units and one unit operating as a short-term rental (Airbnb).
Key Highlights
- 2023‑built sixplex with stucco construction and composition roof
- In‑unit washer and dryer plus stove/range, refrigerator, and microwave hood
- Private patios with grass and sprinkler system for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$49,003
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$980,060
$980.1K
Cap Rate 7%
$700,043
$700.0K
Cap Rate 9%
$544,478
$544.5K
Market Conditions
NOI Build-Up for 5,901 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$95.6K $16.20/SF
− Vacancy
−$6.5K −$1.10/SF
EGI
$89.1K $15.10/SF
− OpEx
−$40.1K −$6.79/SF
NOI
$49.0K $8.30/SF
Area
McAllen, TX
Vacancy
6.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$980,060
Cap Rate 7%
$700,043
Cap Rate 9%
$544,478
Alternative Uses
Best Use
Apartment 5plus
$700.0K
$612.5K – $816.7K
NOI $49,003 @ 7.0% cap · market cap 6.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,166 @ 7.0% cap · market cap 15.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
Explore this area
Business Placement
Demographics for 78504, TX
56,830
Population
21,417
Households
2.7
Avg Household Size
35
Median Age
40%
College-Educated
86%
High-School Grad
19.6 sq mi
ZIP Area
2,899
Density / Sq Mi
$77,627
Median Household Income
$41,632
Median Earnings
$1,178
Median Rent
$203,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Sixplex with in-unit washers and dryers and private patios, plus rear alley access and 11 parking spaces.
Where is this apartment building located?
The property is located at 11003 N 36th Lane McAllen, TX.
What is the asking price?
The asking price for this property is $740,000.
What are key features of this property?
This property features: 2023‑built sixplex with stucco construction and composition roof; In‑unit washer and dryer plus stove/range, refrigerator, and microwave hood; Private patios with grass and sprinkler system for each unit
