Income Producing Multifamily
For Sale
$645,000
Mike Chapa Avenue, La Villa, TX 78562
COMMERCIAL - La Villa, TX
Property Size5,824 SF
Lot Size0.50 Acres
Price / SF$110.75
Days on Market143
Property Features for Mike Chapa Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RM
Parking
8
Appliances
Electric Water Heater
Subdivision
La Villa South
Directions
Going East On 107,Go North On 491 (Left) Advance three Blocks To 8th St Properties Will Be On Your Right
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
Listed By:
Juan Guerra
(956) 563-4645
Added: Mar 15
Changed: Apr 15
Last Checked: Aug 4 at 7:06AM
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.
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Explore this area
Business Placement
Demographics for 78562, TX
3,081
Population
631
Households
4.9
Avg Household Size
34
Median Age
6%
College-Educated
53%
High-School Grad
21.5 sq mi
ZIP Area
143
Density / Sq Mi
$51,583
Median Household Income
$25,000
Median Earnings
$117,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
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.
