Four-Unit
For Sale
$600,000
3004 L Street, McAllen, TX 78503
Residential Income, McAllen, TX
Property Size5,480 SF
Lot Size0.18 Acres
Price / SF$109.49
Days on Market183
Property Features for 3004 L Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
8
Parking features
None
Appliances
Electric Water Heater
Subdivision
Las Canadas
Lot features
Mature Trees
Elementary school
Palmer
Middle school
Kennedy
High school
PSJA South West H.S.
Elementary school district
PSJA ISD
Middle school district
PSJA ISD
High school district
PSJA ISD
Directions
From Expressway 83, South on Jackson Rd. Pass Yuma Ave, West on Olympia, take the first right, and follow around to L Street.
Standard status
Active
APN
L314900002002200
Size
5,480 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15042
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2014
Floors in Building
2
Number of units
4
Building materials
Stucco
Roof type
Tile
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Jaime Lee Gonzalez · License #713189
(956) 599-8400
Added: Apr 15
Changed: Oct 8
Last Checked: Oct 14 at 5:06PM
MLS# 489154
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 2014, this four-unit quadplex contains 5,480 square feet on a 0.1814-acre lot. Each residence is configured with three bedrooms, three bathrooms, and an open-concept layout. The building features stucco construction, a tile roof, central heating, central air conditioning, and an electric water heater. Public water serves the property, and no parking is listed among the site features.
The property is located near La Plaza Mall, shopping, and other major conveniences in McAllen. Its four-unit configuration and consistent floor plans provide a straightforward multifamily layout for residential income use.
The property is located near La Plaza Mall, shopping, and other major conveniences in McAllen. Its four-unit configuration and consistent floor plans provide a straightforward multifamily layout for residential income use.
Key Highlights
- Four residential units, each with 3 bedrooms and 3 bathrooms
- 5,480 square feet on a 0.1814‑acre lot
- Built in 2014 with stucco construction and a tile roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,517
Cap Rate
8.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$990,340
$990.3K
Cap Rate 7%
$707,386
$707.4K
Cap Rate 9%
$550,189
$550.2K
Market Conditions
NOI Build-Up for 5,480 SF
Gross rent
$75.6K $13.80/SF
− Vacancy
−$4.9K −$0.89/SF
EGI
$70.7K $12.91/SF
− OpEx
−$21.2K −$3.87/SF
NOI
$49.5K $9.04/SF
Area
McAllen, TX
Vacancy
6.46%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$990,340
Cap Rate 7%
$707,386
Cap Rate 9%
$550,189
Alternative Uses
Best Use
Multifamily LT 5
$707.4K
$619.0K – $825.3K
NOI $49,517 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$650.1K
$568.8K – $758.5K
NOI $45,507 @ 7.0% cap · market cap 7.58%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,164 @ 7.0% cap · market cap 17.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
204
Businesses Nearby
Explore this area
Business Placement
Demographics for 78503, TX
23,604
Population
8,090
Households
2.9
Avg Household Size
35
Median Age
25%
College-Educated
71%
High-School Grad
19.2 sq mi
ZIP Area
1,229
Density / Sq Mi
$48,765
Median Household Income
$27,514
Median Earnings
$1,087
Median Rent
$130,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units offer open-concept interiors with three bedrooms and three bathrooms each.
Where is this quadplex located?
The property is located at 3004 L Street McAllen, TX.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Four residential units, each with 3 bedrooms and 3 bathrooms; 5,480 square feet on a 0.1814‑acre lot; Built in 2014 with stucco construction and a tile roof
