Quadplex with Covered
For Sale
$520,000
1012 E Myrtle Beach Ave, McAllen, TX 78503
Fully leased quadplex with contemporary finishes, appliance packages, and covered parking at each apartment.
Property Size4,320 SF
Price / SF$120.37
Days on Market72
Property Features for 1012 E Myrtle Beach Ave
General Information
Standard status
Active
Size
4,320 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/2BA, 2 x 3BR/2BA
Multifamily Units
4
Parking per Unit
2
Building Details
Year Built
2017
Listing Agency:
Coldwell Banker La Mansion
Listed By:
Patricia Fogg · License #801070614
Source:
Aregtx
Added: Aug 4
Changed: Oct 6
Last Checked: Oct 7 at 3:46PM
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 Coldwell Banker La Mansion
Investment Insights
Based on property information with market context.
Built in 2017, this 4,320-square-foot quadplex contains four apartments with a two-bedroom, two-bath configuration in two units and a three-bedroom, two-bath layout in the other two. The property occupies a corner lot and is fully leased. Each apartment includes a smooth-top electric range, refrigerator, microwave, washer, and dryer, along with two covered carport parking spaces.
The property is located in McAllen, approximately 5 minutes from McAllen International Airport and La Plaza Mall. Nearby conveniences identified for the property include hospitals, medical clinics, shopping centers, restaurants, and Vanguard Academy. Contemporary finishes and the included appliance packages support a consistent, low-maintenance residential configuration.
The property is located in McAllen, approximately 5 minutes from McAllen International Airport and La Plaza Mall. Nearby conveniences identified for the property include hospitals, medical clinics, shopping centers, restaurants, and Vanguard Academy. Contemporary finishes and the included appliance packages support a consistent, low-maintenance residential configuration.
Key Highlights
- 4,320 SF quadplex built in 2017
- Four units: two 2‑bedroom, 2‑bath units and two 3‑bedroom, 2‑bath units
- Fully leased residential property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,035
Cap Rate
7.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$780,700
$780.7K
Cap Rate 7%
$557,643
$557.6K
Cap Rate 9%
$433,722
$433.7K
Market Conditions
NOI Build-Up for 4,320 SF
Gross rent
$59.6K $13.80/SF
− Vacancy
−$3.9K −$0.89/SF
EGI
$55.8K $12.91/SF
− OpEx
−$16.7K −$3.87/SF
NOI
$39.0K $9.04/SF
Area
McAllen, TX
Vacancy
6.46%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$780,700
Cap Rate 7%
$557,643
Cap Rate 9%
$433,722
Alternative Uses
Best Use
Multifamily LT 5
$557.6K
$487.9K – $650.6K
NOI $39,035 @ 7.0% cap · market cap 7.51%
Second Best
Apartment 5plus
$512.5K
$448.4K – $597.9K
NOI $35,874 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,115 @ 7.0% cap · market cap 15.79%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
204
Businesses Nearby
Explore this area
Business Placement
Demographics for 78503, TX
23,604
Population
8,090
Households
2.9
Avg Household Size
35
Median Age
25%
College-Educated
71%
High-School Grad
19.2 sq mi
ZIP Area
1,229
Density / Sq Mi
$48,765
Median Household Income
$27,514
Median Earnings
$1,087
Median Rent
$130,100
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased quadplex with contemporary finishes, appliance packages, and covered parking at each apartment.
Where is this quadplex located?
The property is located at 1012 E Myrtle Beach Ave McAllen, TX.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: 4,320 SF quadplex built in 2017; Four units: two 2‑bedroom, 2‑bath units and two 3‑bedroom, 2‑bath units; Fully leased residential property
