Quadplex with Covered
For Sale
$520,000
1012 E Myrtle Beach, 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 Market27
Property Features for 1012 E Myrtle Beach
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:
Ryanandbrian
Added: Aug 4
Changed: Aug 28
Last Checked: Aug 29 at 6:18AM
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 = 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
$39,035
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
7.51%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
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 - 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 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
