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    1208 Diplomat Dr Pharr, TX 78577

    For Sale
    $398,000

    Fourplex, High-Income Potential, Updated Units

    Property size:
    3,692 SF

    Description

    Added:
    Feb 11, 2025
    Days on Market:
    307
    This exceptional fourplex investment property in Pharr, Texas, presents a compelling opportunity. Located at 1208 S Diplomat Drive, 78577, this property boasts 3,692 square feet on an 8,288.16 square foot lot. Built in 2006, the property comprises two buildings housing four individual units, currently generating a gross annual income of $39,240. Recent upgrades include a new exterior AC unit for Apartment #4 and brand-new tankless water heaters installed in the attic for all four units in 2024. Apartments #2 and #4 have undergone significant renovations, featuring updated light fixtures, modern sink faucets, new hardware, freshly painted gray cabinets, and contemporary ceiling fans. The property's prime location near Frontage Road, Top Golf, upscale restaurants, and McAllen medical centers ensures strong tenant demand and rental income. This fully occupied property offers immediate cash flow and significant upside potential. The asking price is $398,000. Showings are by appointment only, following contract acceptance. Please do not disturb tenants.

    Property Features for 1208 Diplomat Dr

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,692 SF

    Building Details

    Year Built
    2006
    Buildings
    2
    Units
    4

    HighLights

    • $398,000 asking price.
    • Four‑unit multifamily apartment building.
    • 3,692 square feet on an 8,288 square foot lot.
    • Built in 2006, two buildings.
    • Located at 1208 S Diplomat Drive, Pharr, TX 78577.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pharr
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2015176
    Latitude
    26.1857013

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    FAQs

    What type of property is this?
    Multifamily property - Fourplex, High-Income Potential, Updated Units
    Where is this multifamily property located?
    The property is located at 1208 Diplomat Dr Pharr, TX.
    What is the asking price?
    The asking price for this property is $398,000.
    What are key features of this property?
    This property features: $398,000 asking price.; Four-unit multifamily apartment building.; 3,692 square feet on an 8,288 square foot lot.
    Request Owner's contact information
    1208 Diplomat Dr Pharr, TX 78577
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1208 Diplomat Dr Pharr, TX 78577
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