3-Unit Multifamily
For Sale
Contact for pricing
1112 Fern Avenue, McAllen, TX 78501
Recently renovated rental property near shopping, dining, schools, and major thoroughfares.
Property Size2,894 SF
Price / SF$126.12
Days on Market71
Property Features for 1112 Fern Avenue
General Information
Standard status
Active
Size
2,894 SF
Total Parking Spaces
3
Property subtype
Multifamily
Units
Unit Mix
1 x 1BR/1BA, 2 x 2BR/1BA
Multifamily Units
3
Building Details
Year Built
1979
Buildings
1
Units
6
Listing Agency:
LPT Realty LLC
Listed By:
Brandy ruiz · License #801071740
(956) 249-7933
Source:
Crexi
Added: Aug 10
Changed: Oct 16
Last Checked: Oct 19 at 7:09AM
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 LPT Realty LLC
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Investment Insights
Based on property information with market context.
This 2,894-square-foot triplex, built in 1979, contains one one-bedroom, one-bath residence and two two-bedroom, one-bath residences. The property has undergone recent renovation and is positioned as a multifamily rental asset with a practical three-unit configuration.
Located in McAllen near major thoroughfares, the property is also close to shopping, dining, and schools. The Fern Avenue location provides access to established residential and commercial surroundings while maintaining a compact, manageable footprint for multifamily ownership.
Located in McAllen near major thoroughfares, the property is also close to shopping, dining, and schools. The Fern Avenue location provides access to established residential and commercial surroundings while maintaining a compact, manageable footprint for multifamily ownership.
Key Highlights
- Three‑unit triplex with one 1BR/1BA unit and two 2BR/1BA units
- 2,894 SF multifamily property
- Recently renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,150
Cap Rate
7.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$523,000
$523.0K
Cap Rate 7%
$373,571
$373.6K
Cap Rate 9%
$290,556
$290.6K
Market Conditions
NOI Build-Up for 2,894 SF
Gross rent
$39.9K $13.80/SF
− Vacancy
−$2.6K −$0.89/SF
EGI
$37.4K $12.91/SF
− OpEx
−$11.2K −$3.87/SF
NOI
$26.2K $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%
$523,000
Cap Rate 7%
$373,571
Cap Rate 9%
$290,556
Alternative Uses
Best Use
Multifamily LT 5
$373.6K
$326.9K – $435.8K
NOI $26,150 @ 7.0% cap · market cap 7.16%
Second Best
Apartment 5plus
$343.3K
$300.4K – $400.5K
NOI $24,032 @ 7.0% cap · market cap 6.58%
Theoretical Best
Office A
$785.8K
$687.6K – $916.8K
NOI $55,009 @ 7.0% cap · market cap 15.07%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
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?
Triplex - Recently renovated rental property near shopping, dining, schools, and major thoroughfares.
Where is this triplex located?
The property is located at 1112 Fern Avenue McAllen, TX.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Three‑unit triplex with one 1BR/1BA unit and two 2BR/1BA units; 2,894 SF multifamily property; Recently renovated
