4-Unit Quadplex with Central
For Sale
$600,000
3005 S K Center Street, McAllen, TX 78503
MULTI_FAMILY - McAllen, TX
Property Size5,502 SF
Lot Size0.18 Acres
Price / SF$109.05
Days on Market136
Property Features for 3005 S K Center Street
General Information
Property type
Residential Multi Family
Property subtype
Other
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 first right and follow around to S K Center St
Standard status
Active
APN
L314900002001900
Size
5,502 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15443
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2016
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: Jul 29
Last Checked: Aug 28 at 10:06AM
MLS# 489007
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-unit quadplex was built in 2016 and includes four residential units, each with 3 bedrooms and 3 baths and an open-concept layout. The property has central heating and central air conditioning, a tile roof, and stucco exterior construction. Water service is provided by public water, and an electric water heater is included. Parking is listed as none.
Located at 3005 S K Center Street in McAllen, Texas 78503, the property is positioned near La Plaza Mall and surrounding shopping and major conveniences.
For tenants and operators, the configuration provides four separate 3-bedroom, 3-bath units within a single quadplex building, supported by central HVAC and standard residential utilities including public water.
Located at 3005 S K Center Street in McAllen, Texas 78503, the property is positioned near La Plaza Mall and surrounding shopping and major conveniences.
For tenants and operators, the configuration provides four separate 3-bedroom, 3-bath units within a single quadplex building, supported by central HVAC and standard residential utilities including public water.
Key Highlights
- Built in 2016
- 4 units, each with 3 bedrooms and 3 baths
- Open‑concept layout in each unit
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
$49,716
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
8.29%
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%
$994,320
$994.3K
Cap Rate 7%
$710,229
$710.2K
Cap Rate 9%
$552,400
$552.4K
Market Conditions
NOI Build-Up for 5,502 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
$75.9K $13.80/SF
− Vacancy
−$4.9K −$0.89/SF
EGI
$71.0K $12.91/SF
− OpEx
−$21.3K −$3.87/SF
NOI
$49.7K $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 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%
$994,320
Cap Rate 7%
$710,229
Cap Rate 9%
$552,400
Alternative Uses
Best Use
Multifamily LT 5
$710.2K
$621.5K – $828.6K
NOI $49,716 @ 7.0% cap · market cap 8.29%
Second Best
Apartment 5plus
$652.7K
$571.1K – $761.5K
NOI $45,689 @ 7.0% cap · market cap 7.61%
Theoretical Best
Office A
$1.49M
$1.31M – $1.74M
NOI $104,582 @ 7.0% cap · market cap 17.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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
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 - 4-unit quadplex built in 2016 with central air and central heat, featuring 3-bedroom, 3-bath units served by public water.
Where is this quadplex located?
The property is located at 3005 S K Center 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: Built in 2016; 4 units, each with 3 bedrooms and 3 baths; Open‑concept layout in each unit
