New 4-Plex in Mission,
7111 N 59th Lane, Mission, TX 78573
MULTI_FAMILY - Mission, TX
Property size:
4,131 SFLot size:
0.30 AcresPrice / SF:
$122/SF- Added:
- Apr 17, 2026
- Days on Market:
- 45
- Last Refresh:
- May 31 at 10:06 pm
Property Features for 7111 N 59th Lane
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 2
- Parking features
- Garage
- Exterior features
- Motorized Gate, Sprinkler System
- Fencing
- Gate
- Appliances
- Electric Water Heater, Smooth Electric Cooktop, Dryer, Oven-Single, Refrigerator, Washer
- Standard status
- Active
- APN
- 1371371
- Size
- 4,131 SF
- Lot size
- 0.30 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 12364
Utilities
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2022
- Floors in Building
- 1
- Number of units
- 4
- Building materials
- Brick
- Roof type
- Shingle
Listing agent Jalyssa Garza (956) 655-2191
Listing office Keller Williams Realty RGV 3300 N Mccoll. Ste P & Q, McAllen, TX (956) 928-1155
Listing date Apr 17, 2026
MLS# 501411
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
- Built in 2022: Relatively new construction minimizes potential maintenance issues.
- Strong Rental Demand: Multiple unit sizes attract a broad tenant base, ensuring consistent occupancy.
- Excellent Investment Opportunity: Steady cash flow potential and long‑term upside.
- Functional Floor Plans: Each unit features private living spaces, full kitchens, and well‑sized bedrooms and bathrooms.
- Convenient Location: Proximity to schools, shopping, dining, and major roadways enhances tenant desirability.
- Vacant Unit: Immediate income potential or owner‑occupant opportunity.
Overview
This well-maintained 4-plex, constructed in 2022, presents an excellent investment opportunity. The property features a desirable unit mix, including three 3-bedroom, 2-bath units and one 2-bedroom, 2-bath unit. Each unit is designed with functional floor plans, private living spaces, full kitchens, and well-sized bedrooms and bathrooms, intended to attract long-term tenants. The property's multiple unit sizes appeal to a broad tenant base, contributing to strong rental demand. One unit is currently vacant, offering immediate income potential or the option for owner occupancy. The property is conveniently located near schools, shopping, dining, and major roadways. This multi-family asset offers steady cash flow potential and long-term upside. The property size is 4131 square feet and it sits on a lot of 0.2952 acres.
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 | $58.0k | $14.04 |
| − Vacancy | −$6.4k | −$1.55 |
| EGI | $51.6k | $12.49 |
| − OpEx | −$15.5k | −$3.75 |
| NOI | $36.1k | $8.74 |
4,131 SF · lease $14.04/SF/yr · vacancy 11.02% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$516.1K
$451.6K – $602.1K
NOI $36,125 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$475.2K
$415.8K – $554.4K
NOI $33,261 @ 7.0% cap · market cap 6.59%
Theoretical Best
Hotel Hospitality
$3.11M
$2.72M – $3.63M
NOI $217,807 @ 7.0% cap · market cap 43.13%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Quadplexes
Map
- City
- Mission
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.275207
- Latitude
- 26.271478
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Well-maintained 4-plex built in 2022, great investment opportunity.
Where is this quadplex located?
The property is located at 7111 N 59th Lane Mission, TX.
What is the asking price?
The asking price for this property is $505,000.
What are key features of this property?
This property features: Built in 2022: Relatively new construction minimizes potential maintenance issues.; Strong Rental Demand: Multiple unit sizes attract a broad tenant base, ensuring consistent occupancy.; Excellent Investment Opportunity: Steady cash flow potential and long‑term upside.
