Pharr Fourplex: Investment
3603 Sheraton Avenue, Pharr, TX 78577
- Added:
- Apr 28, 2026
- Days on Market:
- 33
- Last Refresh:
- May 30 at 5:06 am
Property Features for 3603 Sheraton Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 8
- Parking features
- Garage
- Exterior features
- Mature Trees
- Appliances
- Electric Water Heater, Water Heater (Laundry Room), Dryer, Refrigerator, Stove/Range-Electric Smooth, Washer
- Standard status
- Active
- APN
- J235500000008000
- Size
- 3,732 SF
- Lot size
- 0.21 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 8823
Utilities
- Heating system
- Electric (Heating), Central
- Cooling system
- Electric, Central Air
- Water source
- Public
Building Details
- Year built
- 2007
- Floors in Building
- 1
- Number of units
- 4
- Building materials
- Brick, Stone
- Roof type
- Shingle
Listing agent Elizabeth Gomez License #772669 (956) 393-0612
Listing office RE/MAX elite 2575 E Griffin Parkway, Suite 14 Suite 14, Mission, TX (956) 583-2100
Listing date Apr 28, 2026
MLS# 502897
Listing URL
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.
HighLights
- Strong income potential as a well‑maintained 4‑plex.
- Each unit features 2 bedrooms and 2 bathrooms with a stylish, open‑concept layout.
- Convenient location near shopping, dining, and major roadways.
- Modern finishes including stainless steel appliances, tile flooring, and wood cabinetry.
- Energy‑efficient features, central air, and electric heating.
- Covered parking and a clean, gated walkway.
Overview
This well-maintained fourplex in Pharr, Texas, presents an excellent investment opportunity with strong income potential. The property features four units, each containing 2 bedrooms and 2 bathrooms. The units are designed with a stylish open-concept layout, tile flooring, wood cabinetry, and plenty of natural light. Each unit also includes stainless steel appliances, modern finishes, and energy-efficient features. Tenants will appreciate the covered parking and clean, gated walkway, adding both convenience and curb appeal. Situated on a 0.2066-acre lot, the property offers a total of 3,732 square feet of living space. Ideally located near Jackson, this property is just minutes from shopping, dining, and major roadways, making it highly desirable for renters. This 4-plex is a smart choice for expanding your portfolio or purchasing your first income-producing property.
Local 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 | $52.4k | $14.04 |
| − Vacancy | −$5.8k | −$1.55 |
| EGI | $46.6k | $12.49 |
| − OpEx | −$14.0k | −$3.75 |
| NOI | $32.6k | $8.74 |
3,732 SF · lease $14.04/SF/yr · vacancy 11.02% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$466.2K
$408.0K – $543.9K
NOI $32,636 @ 7.0% cap · market cap 8.59%
Second Best
Apartment 5plus
$429.3K
$375.6K – $500.8K
NOI $30,048 @ 7.0% cap · market cap 7.91%
Theoretical Best
Hotel Hospitality
$2.81M
$2.46M – $3.28M
NOI $196,770 @ 7.0% cap · market cap 51.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Pharr
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.206202
- Latitude
- 26.164604
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Well-maintained fourplex near Jackson, offering strong income potential.
Where is this quadplex located?
The property is located at 3603 Sheraton Avenue Pharr, TX.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Strong income potential as a well‑maintained 4‑plex.; Each unit features **2 bedrooms and 2 bathrooms with a stylish, open‑concept layout.**; Convenient location near shopping, dining, and major roadways.
