Fully Rented Fourplex With Covered
For Sale
$524,000
1609 Angelina Drive, San Juan, TX 78589
MULTI_FAMILY - San Juan, TX
Property Size4,322 SF
Lot Size0.23 Acres
Price / SF$121.24
Days on Market44
Property Features for 1609 Angelina Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
8
Parking features
Garage
Appliances
Electric Water Heater
Subdivision
Meadows On Ridge
Lot features
Sidewalks
Elementary school
Sorenson
Middle school
Austin
High school
PSJA H.S.
Elementary school district
PSJA ISD
Middle school district
PSJA ISD
High school district
PSJA ISD
Directions
From I-2 (Expressway 83), exit Raul Longoria Rd and head South. Turn Left (East) onto W Ridge Rd. Travel approximately 1 mile and turn Right (South) onto N Cesar Chavez Rd. Turn right onto E Citrine St, then take the first Left onto Angelina Dr. The property will be on the left side.
Standard status
Active
APN
M319900001000500
Size
4,322 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15330
HOA Fee
$850 Annually
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2022
Floors in Building
1
Number of units
4
Building materials
Stucco
Roof type
Composition
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Jaime Lee Gonzalez · License #713189
(956) 599-8400
Added: Jul 16
Changed: Jul 31
Last Checked: Aug 28 at 10:06AM
MLS# 493514
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 contemporary fourplex offers fully rented residential income in the Meadows on Ridge community. The unit mix includes two 3 bedroom, 2 bath units and two 2 bedroom, 2 bath units. Interiors feature tile flooring, custom cabinetry, and quartz countertops, with open concept floor plans designed for everyday comfort. Covered parking is provided for added convenience.
The property sits on a 0.2321-acre lot and includes 4,322 square feet under roof. Built in 2022, the stucco structure is equipped with central heating and central air, an electric water heater, and a composition roof. Public water service is available, and each unit includes garage parking.
Conveniently located near Expressway 83, the home is close to shopping and dining, and it is within PSJA ISD.
The property sits on a 0.2321-acre lot and includes 4,322 square feet under roof. Built in 2022, the stucco structure is equipped with central heating and central air, an electric water heater, and a composition roof. Public water service is available, and each unit includes garage parking.
Conveniently located near Expressway 83, the home is close to shopping and dining, and it is within PSJA ISD.
Key Highlights
- 0.2321‑acre lot with 4,322 square feet
- Fully rented fourplex in the Meadows on Ridge community
- Two 3 bedroom, 2 bath units plus two 2 bedroom, 2 bath units
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
$37,796
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
7.21%
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%
$755,920
$755.9K
Cap Rate 7%
$539,943
$539.9K
Cap Rate 9%
$419,956
$420.0K
Market Conditions
NOI Build-Up for 4,322 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
$60.7K $14.04/SF
− Vacancy
−$6.7K −$1.55/SF
EGI
$54.0K $12.49/SF
− OpEx
−$16.2K −$3.75/SF
NOI
$37.8K $8.74/SF
Area
Hidalgo County, TX
Vacancy
11.02%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
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%
$755,920
Cap Rate 7%
$539,943
Cap Rate 9%
$419,956
Alternative Uses
Best Use
Multifamily LT 5
$539.9K
$472.5K – $629.9K
NOI $37,796 @ 7.0% cap · market cap 7.21%
Second Best
Apartment 5plus
$497.1K
$435.0K – $580.0K
NOI $34,798 @ 7.0% cap · market cap 6.64%
Theoretical Best
Hotel Hospitality
$3.26M
$2.85M – $3.80M
NOI $227,877 @ 7.0% cap · market cap 43.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
51
Businesses Nearby
Explore this area
Business Placement
Demographics for 78589, TX
38,987
Population
12,393
Households
3.1
Avg Household Size
32
Median Age
13%
College-Educated
62%
High-School Grad
25.5 sq mi
ZIP Area
1,529
Density / Sq Mi
$51,662
Median Household Income
$27,679
Median Earnings
$926
Median Rent
$112,400
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?
Quadplex - Fully rented fourplex with two 3 bed/2 bath and two 2 bed/2 bath units plus covered garage parking.
Where is this quadplex located?
The property is located at 1609 Angelina Drive San Juan, TX.
What is the asking price?
The asking price for this property is $524,000.
What are key features of this property?
This property features: 0.2321‑acre lot with 4,322 square feet; Fully rented fourplex in the Meadows on Ridge community; Two 3 bedroom, 2 bath units plus two 2 bedroom, 2 bath units
