Fully Leased Duplex
For Sale
Contact for pricing
1001 E Owassa Road, Edinburg, TX 78542
Fourteen duplex buildings offer consistently occupied two-bedroom, one-bath residences near Expressway 281.
Property Size10,400 SF
Price / SF$278.85
Days on Market1070
Property Features for 1001 E Owassa Road
General Information
Standard status
Active
Size
10,400 SF
Total Parking Spaces
1
Property subtype
Multifamily
Occupancy
100%
Units
Unit Mix
28 x 2BR/1BA
Multifamily Units
28
Additional Details
Highway Access
Yes
Building Details
Year Built
2016
Buildings
14
Units
28
Listing Agency:
Big Realty
Listed By:
Ricardo Benavides · License #TREC # 574075
(956) 283-4082
Source:
Crexi
Added: Nov 11, 2023
Changed: Sep 6
Last Checked: Oct 14 at 11:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Big Realty
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Investment Insights
Based on property information with market context.
This multifamily property comprises 14 duplex buildings with 28 total units. Each residence includes two bedrooms and one bathroom, while the buildings provide a combined property size of 10,400 square feet. Constructed in 2016, the duplexes have updated roofs and are described as being in excellent condition.
All 28 units are fully leased. The property is located on Owassa Road in Edinburg, near Dove Road and approximately one minute from Expressway 281. Major shopping centers, schools, and entertainment districts are located within a short drive, providing access to established daily-use amenities and regional transportation.
The portfolio combines a defined unit configuration with current occupancy across the entire 14-building layout. Its location within the McAllen-Edinburg-Mission Metropolitan area adds regional context for evaluating the asset.
All 28 units are fully leased. The property is located on Owassa Road in Edinburg, near Dove Road and approximately one minute from Expressway 281. Major shopping centers, schools, and entertainment districts are located within a short drive, providing access to established daily-use amenities and regional transportation.
The portfolio combines a defined unit configuration with current occupancy across the entire 14-building layout. Its location within the McAllen-Edinburg-Mission Metropolitan area adds regional context for evaluating the asset.
Key Highlights
- 28 total units across 14 duplex buildings
- All 28 units are fully leased
- Each unit has 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$97,701
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,954,020
$2.0M
Cap Rate 7%
$1,395,729
$1.4M
Cap Rate 9%
$1,085,567
$1.1M
Market Conditions
NOI Build-Up for 10,400 SF
Gross rent
$143.5K $13.80/SF
− Vacancy
−$3.9K −$0.38/SF
EGI
$139.6K $13.42/SF
− OpEx
−$41.9K −$4.03/SF
NOI
$97.7K $9.39/SF
Area
Edinburg, TX
Vacancy
2.75%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,954,020
Cap Rate 7%
$1,395,729
Cap Rate 9%
$1,085,567
Alternative Uses
Best Use
Multifamily LT 5
$1.40M
$1.22M – $1.63M
NOI $97,701 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$1.25M
$1.09M – $1.46M
NOI $87,311 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$2.70M
$2.36M – $3.15M
NOI $188,897 @ 7.0% cap · market cap 6.51%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
28
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
171
Businesses Nearby
Explore this area
Business Placement
Demographics for 78542, TX
84,678
Population
25,198
Households
3.4
Avg Household Size
28
Median Age
13%
College-Educated
64%
High-School Grad
176.0 sq mi
ZIP Area
481
Density / Sq Mi
$52,962
Median Household Income
$30,377
Median Earnings
$876
Median Rent
$123,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Fourteen duplex buildings offer consistently occupied two-bedroom, one-bath residences near Expressway 281.
Where is this duplex located?
The property is located at 1001 E Owassa Road Edinburg, TX.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 28 total units across 14 duplex buildings; All 28 units are fully leased; Each unit has 2 bedrooms and 1 bathroom
