6-Unit Apartment
New
For Sale
$720,000
11003 N 36th Lane, McAllen, TX 78504
Apartments combine in-unit laundry and kitchen appliances with private patios and landscaped outdoor areas.
Property Size5,901 SF
Price / SF$122.01
Days on Market6
Property Features for 11003 N 36th Lane
General Information
Standard status
Active
Size
5,901 SF
Total Parking Spaces
11
Property subtype
Multi Family Home
Additional Details
Multifamily Units
6
Currently Operating
Yes
Taxes and HOA fees
Annual Taxes
$15,880
Amenities
in-unit washer and dryer
stove
refrigerator
microwave hood
private patio with grass and sprinkler system
Ceiling Fan(s)
Other
Walk-In Closet(s)
Building Details
Building Size
5,901 SF
Year Built
2023
Buildings
3
Stories
1
Units
6
Listing Agency:
Effective Real Estate
(956) 322-8522
Listed By:
Jenny I. Avellaneda · License #846528321
(956) 250-7556
Source:
Dolcevitargv
Added: Oct 20
Changed: Oct 23
Last Checked: Oct 23 at 5:18PM
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 Effective Real Estate
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Investment Insights
Based on property information with market context.
Completed in 2023, this 5,901-square-foot apartment property contains six units. Five are leased for long-term occupancy, while the remaining unit operates as a short-term rental. Each apartment has a washer and dryer, stove, refrigerator, and microwave hood, along with a private patio, grass, and sprinkler system.
The property is at 11003 N 36th Lane in McAllen, with rear alley access and 11 parking spaces.
The property is at 11003 N 36th Lane in McAllen, with rear alley access and 11 parking spaces.
Key Highlights
- Six apartment units totaling 5,901 square feet
- Built in 2023
- Five long‑term rental units and one short‑term rental unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,003
Cap Rate
6.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$980,060
$980.1K
Cap Rate 7%
$700,043
$700.0K
Cap Rate 9%
$544,478
$544.5K
Market Conditions
NOI Build-Up for 5,901 SF
Gross rent
$95.6K $16.20/SF
− Vacancy
−$6.5K −$1.10/SF
EGI
$89.1K $15.10/SF
− OpEx
−$40.1K −$6.79/SF
NOI
$49.0K $8.30/SF
Area
McAllen, TX
Vacancy
6.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$980,060
Cap Rate 7%
$700,043
Cap Rate 9%
$544,478
Alternative Uses
Best Use
Apartment 5plus
$700.0K
$612.5K – $816.7K
NOI $49,003 @ 7.0% cap · market cap 6.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,166 @ 7.0% cap · market cap 15.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Explore this area
Business Placement
Demographics for 78504, TX
56,830
Population
21,417
Households
2.7
Avg Household Size
35
Median Age
40%
College-Educated
86%
High-School Grad
19.6 sq mi
ZIP Area
2,899
Density / Sq Mi
$77,627
Median Household Income
$41,632
Median Earnings
$1,178
Median Rent
$203,900
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?
Apartment building - Apartments combine in-unit laundry and kitchen appliances with private patios and landscaped outdoor areas.
Where is this apartment building located?
The property is located at 11003 N 36th Lane McAllen, TX.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: Six apartment units totaling 5,901 square feet; Built in 2023; Five long‑term rental units and one short‑term rental unit
