Income Producing Multifamily
Mike Chapa Avenue La Villa, TX 78562
Mike Chapa Avenue, La Villa, TX, 78562
$645,000
For Sale
$645,000
COMMERCIAL - La Villa, TX
Property Size5,824 SF
Lot Size0.50 Acres
Price / SF$110.75
Days on Market125
Property Features for Mike Chapa Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- RM
- Parking
- 8
- Appliances
- Electric Water Heater
- Standard status
- Active
- APN
- A125000000000200
- Size
- 5,824 SF
- Lot size
- 0.50 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Annual Amount
- 15330
Utilities
- Heating system
- Central
- Cooling system
- Central Air
Building Details
- Year built
- 2018
- Floors in Building
- 1
- Building materials
- Brick
- Roof type
- Shingle
Listing Agency
Keller Williams Realty RGV
(956) 928-1155
3300 N Mccoll. Ste P & Q, McAllen, TX
Listed by
Juan Guerra
(956) 563-4645
Added: Mar 15 Checked: Jul 17 at 7:06 am
MLS# 449641
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 multifamily property in La Villa, Texas, presents an opportunity for investors seeking income-producing assets. The property features two fully leased fourplexes, totaling 8 units. Additionally, there is another fourplex that is 70% completed, offering the potential for increased rental income upon completion. The listing also includes land with the potential to build another fourplex, providing further expansion possibilities. The property is zoned RM. The property size is 5,824 square feet and the lot size is approximately 0.4991 acres.
Key Highlights
- Fully leased 8‑unit apartment complex providing immediate income.
- Additional fourplex 70% completed, offering near‑term expansion potential.
- Land included with potential to build another fourplex, allowing for future growth.
Local Financial Insights For Apartment 5plus
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 | $96.4k | $16.56 |
| − Vacancy | −$11.2k | −$1.92 |
| EGI | $85.3k | $14.64 |
| − OpEx | −$38.4k | −$6.59 |
| NOI | $46.9k | $8.05 |
5,824 SF · lease $16.56/SF/yr · vacancy 11.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$669.9K
$586.2K – $781.5K
NOI $46,892 @ 7.0% cap · market cap 7.27%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$4.39M
$3.84M – $5.12M
NOI $307,070 @ 7.0% cap · market cap 47.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Fully leased 8-unit apartments with expansion potential in La Villa.
Where is this apartment building located?
The property is located at Mike Chapa Avenue La Villa, TX.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Fully leased 8‑unit apartment complex providing immediate income.; Additional fourplex 70% completed, offering near‑term expansion potential.; Land included with potential to build another fourplex, allowing for future growth.
