Brick Quadplex with Modern
For Sale
$475,000
1004 W Mahala Avenue, Alton, TX 78573
Residential Income, Alton, TX
Property Size3,416 SF
Lot Size0.21 Acres
Price / SF$139.05
Days on Market92
Property Features for 1004 W Mahala Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
8
Patio and Porch features
Patio
Fencing
Privacy
Appliances
Electric Water Heater, Water Heater (Laundry Room), Electric Cooktop, Dryer
Subdivision
Sunset Valley Apartments Ph. 2
Lot features
Curb & Gutters, Sidewalks
Elementary school
Cantu
Middle school
Alton-Memorial Junior High
High school
Mission H.S.
Elementary school district
Mission ISD
Middle school district
Mission ISD
High school district
Mission ISD
Directions
From 107 go west until you get to Trosper road and then turn left and keep going until Sunset Valley and turn right and when you enter turn left on Kentucky St.
Standard status
Active
APN
S765702000005600
Size
3,416 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
8484
HOA Fee
$450 Annually
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 Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Maggie Harris · License #TREC#0530155
(956) 821-9990
Added: May 29
Changed: Aug 26
Last Checked: Aug 28 at 7:06PM
MLS# 505821
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.
Built in 2022, this 3,416-square-foot quadplex contains four residential units within a gated community. The brick property includes durable tile flooring, quartz countertops, and appliances including electric cooktops and a dryer. Central heating and central air serve the building, while each unit also has access to a patio.
All four units are currently leased, providing an occupied residential income asset in Alton, Texas. The 0.2138-acre property has privacy fencing, a shingle roof, and public water service. Its combination of contemporary interior finishes, durable construction materials, and established occupancy presents a clearly defined multifamily configuration.
All four units are currently leased, providing an occupied residential income asset in Alton, Texas. The 0.2138-acre property has privacy fencing, a shingle roof, and public water service. Its combination of contemporary interior finishes, durable construction materials, and established occupancy presents a clearly defined multifamily configuration.
Key Highlights
- Four‑unit quadplex with all four units currently leased
- 3,416 square feet on a 0.2138‑acre lot
- Built in 2022 with brick construction
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,873
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$597,460
$597.5K
Cap Rate 7%
$426,757
$426.8K
Cap Rate 9%
$331,922
$331.9K
Market Conditions
NOI Build-Up for 3,416 SF
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.
Gross rent
$48.0K $14.04/SF
− Vacancy
−$5.3K −$1.55/SF
EGI
$42.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$597,460
Cap Rate 7%
$426,757
Cap Rate 9%
$331,922
Alternative Uses
Best Use
Multifamily LT 5
$426.8K
$373.4K – $497.9K
NOI $29,873 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$392.9K
$343.8K – $458.4K
NOI $27,504 @ 7.0% cap · market cap 5.79%
Theoretical Best
Hotel Hospitality
$2.57M
$2.25M – $3.00M
NOI $180,109 @ 7.0% cap · market cap 37.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Explore this area
Business Placement
Demographics for 78573, TX
42,229
Population
13,339
Households
3.2
Avg Household Size
29
Median Age
15%
College-Educated
63%
High-School Grad
36.7 sq mi
ZIP Area
1,151
Density / Sq Mi
$51,185
Median Household Income
$27,730
Median Earnings
$909
Median Rent
$154,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Gated residential income property with leased units, tile flooring, quartz counters, and included appliances.
Where is this quadplex located?
The property is located at 1004 W Mahala Avenue Alton, TX.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Four‑unit quadplex with all four units currently leased; 3,416 square feet on a 0.2138‑acre lot; Built in 2022 with brick construction
