Four-Unit Multifamily
For Sale
$395,000
705 Emerald Drive, Pharr, TX 78577
Residential Income, Pharr, TX
Property Size3,422 SF
Lot Size0.19 Acres
Price / SF$115.43
Days on Market176
Property Features for 705 Emerald Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
8
Parking features
None
Appliances
Electric Water Heater, Dryer, Refrigerator, Stove/Range-Electric Coil, Washer
Subdivision
Los Pinos Estate Ph 2
Elementary school
Arnold
Middle school
LBJ
High school
PSJA North H.S.
Elementary school district
PSJA ISD
Middle school district
PSJA ISD
High school district
PSJA ISD
Directions
FROM THE CORNER OF ELDORA AND SUGAR TURN ON EMERALD AND GO EAST TO END OF STREET. APT COMPLEX SITS ON SOUTH WEST CORNER
Standard status
Active
APN
L635602000001700
Size
3,422 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7897
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2006
Floors in Building
1
Number of units
4
Building materials
Brick, Stucco
Roof type
Shingle
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Jaime Lee Gonzalez · License #713189
(956) 599-8400
Added: Apr 15
Changed: Sep 4
Last Checked: Oct 7 at 5:06PM
MLS# 490748
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 four-unit multifamily property contains 3,422 square feet on 0.1949 acres and was built in 2006. Each residence offers two bedrooms and two bathrooms, and the property is fully leased. Interior and building features include central heating, central air, brick and stucco construction, a shingle roof, and public water service. Units are equipped with electric water heaters, washers, dryers, refrigerators, and electric coil stove/ranges.
The property is located at 705 Emerald Drive in Pharr, south of Nolana and east of Sugar Road. The surrounding area provides access to retail centers, restaurants, and major roadways. Parking features are listed as none.
The property is located at 705 Emerald Drive in Pharr, south of Nolana and east of Sugar Road. The surrounding area provides access to retail centers, restaurants, and major roadways. Parking features are listed as none.
Key Highlights
- Four‑unit multifamily property with all units fully leased
- 3,422 square feet on a 0.1949‑acre site
- Each unit includes 2 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,925
Cap Rate
7.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$598,500
$598.5K
Cap Rate 7%
$427,500
$427.5K
Cap Rate 9%
$332,500
$332.5K
Market Conditions
NOI Build-Up for 3,422 SF
Gross rent
$48.0K $14.04/SF
− Vacancy
−$5.3K −$1.55/SF
EGI
$42.8K $12.49/SF
− OpEx
−$12.8K −$3.75/SF
NOI
$29.9K $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 Rate 5%
$598,500
Cap Rate 7%
$427,500
Cap Rate 9%
$332,500
Alternative Uses
Best Use
Multifamily LT 5
$427.5K
$374.1K – $498.8K
NOI $29,925 @ 7.0% cap · market cap 7.58%
Second Best
Apartment 5plus
$393.6K
$344.4K – $459.2K
NOI $27,552 @ 7.0% cap · market cap 6.98%
Theoretical Best
Hotel Hospitality
$2.58M
$2.26M – $3.01M
NOI $180,425 @ 7.0% cap · market cap 45.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
416
Businesses Nearby
Explore this area
Business Placement
Demographics for 78577, TX
79,937
Population
26,568
Households
3
Avg Household Size
30
Median Age
18%
College-Educated
70%
High-School Grad
26.0 sq mi
ZIP Area
3,075
Density / Sq Mi
$49,768
Median Household Income
$28,186
Median Earnings
$988
Median Rent
$111,500
Median Home Value
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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 - Fully leased four-unit property with two-bedroom, two-bath residences and central heating and air conditioning.
Where is this quadplex located?
The property is located at 705 Emerald Drive Pharr, TX.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Four‑unit multifamily property with all units fully leased; 3,422 square feet on a 0.1949‑acre site; Each unit includes 2 bedrooms and 2 bathrooms
