Apartment Building with On-Site
For Sale
$1,130,000
1108 Fern Avenue, McAllen, TX 78501
Twelve one-bedroom residences include central air, essential appliances, and shared laundry facilities.
Property Size7,632 SF
Days on Market425
Property Features for 1108 Fern Avenue
General Information
Standard status
Active
Size
7,632 SF
Property subtype
Apartment
Units
Unit Mix
12 x 1BR/1BA
Multifamily Units
12
Amenities
on-site laundry facility
Central
Central Air
Electric Water Heater
Dryer
Refrigerator
Stove/Range
Washer
Shingle
Building Details
Building Size
7,632 SF
Year Built
1976
Listing Agency:
RGV Venture Capital, LP d/b/a Keller Williams Realty - RGV
Listed By:
Jaime Lee Gonzalez · License #713189
(956) 599-8400
Source:
Kw
Added: Aug 18, 2025
Changed: Oct 15
Last Checked: Oct 14 at 9:43PM
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 RGV Venture Capital, LP d/b/a Keller Williams Realty - RGV
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Investment Insights
Based on property information with market context.
This 12-unit apartment property was built in 1976 and contains a consistent one-bedroom, one-bath layout throughout. Each residence is equipped with central air, an electric water heater, refrigerator, stove/range, washer, and dryer. An on-site laundry facility serves the property, and the building has a shingle exterior.
The property is located at 1108 Fern Avenue in McAllen, near the intersection of 10th and Fern and behind BMW. H-E-B, restaurants, and other amenities are within walking distance, adding convenience for residents. The combination of uniform unit configuration, in-place appliances, and a walkable setting provides a straightforward multifamily property profile.
The property is located at 1108 Fern Avenue in McAllen, near the intersection of 10th and Fern and behind BMW. H-E-B, restaurants, and other amenities are within walking distance, adding convenience for residents. The combination of uniform unit configuration, in-place appliances, and a walkable setting provides a straightforward multifamily property profile.
Key Highlights
- 12 units with a uniform 1‑bedroom, 1‑bath configuration
- On‑site laundry facility
- Central air in each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,377
Cap Rate
5.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,267,540
$1.3M
Cap Rate 7%
$905,386
$905.4K
Cap Rate 9%
$704,189
$704.2K
Market Conditions
NOI Build-Up for 7,632 SF
Gross rent
$123.6K $16.20/SF
− Vacancy
−$8.4K −$1.10/SF
EGI
$115.2K $15.10/SF
− OpEx
−$51.9K −$6.79/SF
NOI
$63.4K $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%
$1,267,540
Cap Rate 7%
$905,386
Cap Rate 9%
$704,189
Alternative Uses
Best Use
Apartment 5plus
$905.4K
$792.2K – $1.06M
NOI $63,377 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.07M
$1.81M – $2.42M
NOI $145,069 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,241
Businesses Nearby
Explore this area
Business Placement
Demographics for 78501, TX
60,817
Population
24,807
Households
2.5
Avg Household Size
37
Median Age
27%
College-Educated
77%
High-School Grad
15.5 sq mi
ZIP Area
3,924
Density / Sq Mi
$49,451
Median Household Income
$29,092
Median Earnings
$943
Median Rent
$149,000
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 - Twelve one-bedroom residences include central air, essential appliances, and shared laundry facilities.
Where is this apartment building located?
The property is located at 1108 Fern Avenue McAllen, TX.
What is the asking price?
The asking price for this property is $1,130,000.
What are key features of this property?
This property features: 12 units with a uniform 1‑bedroom, 1‑bath configuration; On‑site laundry facility; Central air in each residence
