Mission, TX Fourplex
215 W Diamond Avenue Mission, TX 78573
For Sale
$465,000
MULTI_FAMILY - Mission, TX
Property Size4,100 SF
Lot Size0.23 Acres
Price / SF$113.41
Days on Market98
Property Features for 215 W Diamond Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 8
- Parking features
- Garage
- Patio and Porch features
- Patio
- Exterior features
- Mature Trees, Sprinkler System
- Fencing
- Privacy
- Appliances
- Electric Water Heater, Dryer, Refrigerator, Stove/Range, Washer
- Standard status
- Active
- APN
- L102500000004000
- Size
- 4,100 SF
- Lot size
- 0.23 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 8657
Utilities
- Heating system
- Central, Electric (Heating)
- Cooling system
- Central Air, Electric
- Water source
- Public
Building Details
- Year built
- 2024
- 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:
Amber Pacheco · License #0530155
(956) 800-9719
Added: Apr 21
Last Checked: Jul 27 at 12:06AM
MLS# 497838
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 fully leased fourplex presents an excellent investment opportunity, generating positive cash flow with low maintenance. Located in a prime area near N. Conway Ave and Alton Blvd in Mission, the property is conveniently close to shopping and dining. Each unit features stainless steel appliances, quartz countertops, tile flooring, a washer and dryer, and a private fenced backyard. The property includes 8 carport spaces. Tenants are responsible for electricity, internet, and cable expenses. The owner covers trash, water (1 meter), house meter electricity, and landscaping. The property size is 4,100 square feet and the lot size is 0.2287 acres.
Key Highlights
- Fully leased 4‑plex providing immediate income and positive cash flow.
- Low‑maintenance property in a prime location near N. Conway Ave and Alton Blvd, close to shopping and dining.
- Each unit features desirable amenities: stainless steel appliances, quartz countertops, tile flooring, washer and dryer, and a private fenced backyard.
Financial Insights For Multifamily LT 5
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 | $57.6k | $14.04 |
| − Vacancy | −$6.3k | −$1.55 |
| EGI | $51.2k | $12.49 |
| − OpEx | −$15.4k | −$3.75 |
| NOI | $35.9k | $8.74 |
4,100 SF · lease $14.04/SF/yr · vacancy 11.02% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$512.2K
$448.2K – $597.6K
NOI $35,854 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$471.6K
$412.6K – $550.2K
NOI $33,011 @ 7.0% cap · market cap 7.10%
Theoretical Best
Hotel Hospitality
$3.09M
$2.70M – $3.60M
NOI $216,173 @ 7.0% cap · market cap 46.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Fully leased fourplex in Mission, TX, generating immediate income.
Where is this quadplex located?
The property is located at 215 W Diamond Avenue Mission, TX.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Fully leased 4‑plex providing immediate income and positive cash flow.; Low‑maintenance property in a prime location near N. Conway Ave and Alton Blvd, close to shopping and dining.; Each unit features desirable amenities: stainless steel appliances, quartz countertops, tile flooring, washer and dryer, and a private fenced backyard.
