Quadplex With Modern
For Sale
$465,000
2608 E Harrison Avenue, Alton, TX 78573
MULTI_FAMILY - Alton, TX
Property Size4,052 SF
Lot Size0.22 Acres
Price / SF$114.76
Days on Market10
Property Features for 2608 E Harrison Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Property condition
Under Construction
Parking
8
Parking features
Other
Appliances
Electric Water Heater, Microwave, Refrigerator, Stove/Range-Electric Coil
Subdivision
Westwood Villas
Lot features
Professional Landscaping, Sidewalks
Elementary school
Jensen
Middle school
Sharyland North Junior
High school
Pioneer H.S.
Elementary school district
Sharyland ISD
Middle school district
Sharyland ISD
High school district
Sharyland ISD
Directions
Going north on Steward Rd., you passed Mile 4 1/2.(Lark Ave.) Continue North and you will see on your right hand side the entrance/ sign of WESTWOOD VILLAS.
Standard status
Active
APN
W46700000000400
Size
4,052 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1
HOA Fee
$250 Annually
Utilities
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
2026
Floors in Building
1
Number of units
4
Building materials
Stucco
Roof type
Composition
Listing Agency:
STX Real Estate Group
(956) 400-9697
Listed By:
Gloria Gracia
(956) 655-0551
Added: Aug 4
Changed: Aug 13
Last Checked: Aug 13 at 11:06AM
MLS# 502923
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 4,052-square-foot quadplex is under construction and includes four residential units arranged in a balanced bedroom mix: two units with 2 bedrooms and 2 baths, plus two units with 3 bedrooms and 2 baths. The design features open-concept interiors, decorative ceilings, stucco construction, composition roofing, central air conditioning, and electric heating. Each apartment includes a microwave, refrigerator, and electric coil stove/range.
The property occupies 0.2236 acres at 2608 E Harrison Avenue in Alton, Texas. Public water serves the site, and the property is positioned near schools and main roads within the Westwood Villas subdivision. Completion is identified for 2026.
The property occupies 0.2236 acres at 2608 E Harrison Avenue in Alton, Texas. Public water serves the site, and the property is positioned near schools and main roads within the Westwood Villas subdivision. Completion is identified for 2026.
Key Highlights
- 4,052 SF quadplex under construction
- Two 2‑bedroom/2‑bath units and two 3‑bedroom/2‑bath units
- Open‑concept layouts with decorative ceilings
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
$35,435
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
7.62%
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%
$708,700
$708.7K
Cap Rate 7%
$506,214
$506.2K
Cap Rate 9%
$393,722
$393.7K
Market Conditions
NOI Build-Up for 4,052 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
$56.9K $14.04/SF
− Vacancy
−$6.3K −$1.55/SF
EGI
$50.6K $12.49/SF
− OpEx
−$15.2K −$3.75/SF
NOI
$35.4K $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%
$708,700
Cap Rate 7%
$506,214
Cap Rate 9%
$393,722
Alternative Uses
Best Use
Multifamily LT 5
$506.2K
$442.9K – $590.6K
NOI $35,435 @ 7.0% cap · market cap 7.62%
Second Best
Apartment 5plus
$466.1K
$407.8K – $543.8K
NOI $32,625 @ 7.0% cap · market cap 7.02%
Theoretical Best
Hotel Hospitality
$3.05M
$2.67M – $3.56M
NOI $213,642 @ 7.0% cap · market cap 45.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
822
Businesses Nearby
Explore this area
Business Placement
Demographics for 78573, TX
42,229
Population
13,339
Households
3.2
Avg Household Size
29
Median Age
15%
College-Educated
63%
High-School Grad
36.7 sq mi
ZIP Area
1,151
Density / Sq Mi
$51,185
Median Household Income
$27,730
Median Earnings
$909
Median Rent
$154,800
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 - Four-unit property with an open layout, appliance packages, and a two-bedroom and three-bedroom unit mix.
Where is this quadplex located?
The property is located at 2608 E Harrison Avenue Alton, 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: 4,052 SF quadplex under construction; Two 2‑bedroom/2‑bath units and two 3‑bedroom/2‑bath units; Open‑concept layouts with decorative ceilings
