Modern 12-Unit Apartment
1306 Royola Street Palmview, TX 78572
1306 Royola Street, Palmview, TX, 78572
$935,000
For Sale
$935,000
MULTI_FAMILY - Palmview, TX
Property Size8,927 SF
Lot Size0.61 Acres
Price / SF$104.74
Days on Market30
Property Features for 1306 Royola Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 24
- Exterior features
- Sprinkler System
- Appliances
- Electric Water Heater, Water Heater (Laundry Room), Dryer, Microwave, Refrigerator, Stove/Range-Electric Smooth, Washer
- Standard status
- Active
- APN
- D538000000000700
- Size
- 8,927 SF
- Lot size
- 0.61 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 22400
Utilities
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Electric
- Water source
- Public
Building Details
- Year built
- 2023
- Floors in Building
- 1
- Number of units
- 12
- Building materials
- Stucco
- Roof type
- Composition
Listing agency
Encore Fine Properties
(956) 821-6170
Listed by
Karena Herrera
(956) 336-3124
Added: Jun 23 Checked: Jul 22 at 7:06PM
MLS# 490594
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.
Built in 2023, this modern 12-unit apartment complex features two single-story buildings with six units each. The tenant-friendly unit mix includes seven 2-bedroom/1-bath apartments and five 1-bedroom/1-bath apartments, for a total of 12 homes on a 0.6052-acre site. Interiors are equipped with granite countertops, tile flooring, and a full appliance package that includes a stove, refrigerator, microwave, and in-unit washer and dryer. Resident parking is supported by two covered parking spaces per unit, adding convenience to everyday use.
The property is located in Palmview, Texas, at 1306 Royola Street, about a quarter-mile from Expressway I-2/Hwy 83. The listing notes convenient access to shopping, dining, and entertainment in Mission and McAllen, supporting straightforward day-to-day connectivity for tenants.
For buyers seeking a newer multifamily asset, the combination of built-in 2023 construction, functional one- and two-bedroom layouts, and in-unit laundry can simplify leasing and tenant turnover. The covered parking allocation and consistent in-unit amenities across the complex are practical features for resident satisfaction and day-to-day operations.
The property is located in Palmview, Texas, at 1306 Royola Street, about a quarter-mile from Expressway I-2/Hwy 83. The listing notes convenient access to shopping, dining, and entertainment in Mission and McAllen, supporting straightforward day-to-day connectivity for tenants.
For buyers seeking a newer multifamily asset, the combination of built-in 2023 construction, functional one- and two-bedroom layouts, and in-unit laundry can simplify leasing and tenant turnover. The covered parking allocation and consistent in-unit amenities across the complex are practical features for resident satisfaction and day-to-day operations.
Key Highlights
- Built in 2023: modern 12‑unit apartment complex with two single‑story buildings
- Unit mix: seven 2‑bedroom/1‑bath and five 1‑bedroom/1‑bath apartments
- Each unit features granite countertops and tile flooring
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $147.8k | $16.56 |
| − Vacancy | −$17.1k | −$1.92 |
| EGI | $130.7k | $14.64 |
| − OpEx | −$58.8k | −$6.59 |
| NOI | $71.9k | $8.05 |
8,927 SF · lease $16.56/SF/yr · vacancy 11.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.03M
$898.4K – $1.20M
NOI $71,875 @ 7.0% cap · market cap 7.69%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$6.72M
$5.88M – $7.84M
NOI $470,676 @ 7.0% cap · market cap 50.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Newer 12-unit complex offers efficient unit mix with in-unit laundry and covered parking for residents.
Where is this apartment building located?
The property is located at 1306 Royola Street Palmview, TX.
What is the asking price?
The asking price for this property is $935,000.
What are key features of this property?
This property features: Built in 2023: modern 12‑unit apartment complex with two single‑story buildings; Unit mix: seven 2‑bedroom/1‑bath and five 1‑bedroom/1‑bath apartments; Each unit features granite countertops and tile flooring
