Brand-New 4-Plex with
For Sale
$525,000
11415 N 24th, McAllen, TX 78504
New construction fourplex offering open-concept units, ample parking, and private patios.
Property Size4,000 SF
Price / SF$131.25
Days on Market95
Property Features for 11415 N 24th
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Amenities
private patios
Building Details
Year Built
2025
Tenancy
Multi
Listing Agency:
Effective Real Estate
Listed By:
Ryan J. McDaniel
(956) 299-2111
Source:
Aregtx
Added: Jul 20
Changed: Oct 11
Last Checked: Oct 7 at 4:14PM
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.
This brand-new fourplex includes four side-by-side buildings with spacious, open-concept unit layouts. Each unit is described as having contemporary finishes and premium craftsmanship. The property also offers private patios and ample parking for residents.
Located in McAllen, the property is presented as being close to shopping, dining, and top-rated schools.
As a residential income property, the configuration is designed to provide multiple separate units within a single fourplex ownership structure.
Located in McAllen, the property is presented as being close to shopping, dining, and top-rated schools.
As a residential income property, the configuration is designed to provide multiple separate units within a single fourplex ownership structure.
Key Highlights
- Brand‑new 4‑plex built in 2025
- Side‑by‑side building layout with open‑concept unit designs
- Each unit features spacious open‑concept layouts with contemporary finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,144
Cap Rate
6.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$722,880
$722.9K
Cap Rate 7%
$516,343
$516.3K
Cap Rate 9%
$401,600
$401.6K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$55.2K $13.80/SF
− Vacancy
−$3.6K −$0.89/SF
EGI
$51.6K $12.91/SF
− OpEx
−$15.5K −$3.87/SF
NOI
$36.1K $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%
$722,880
Cap Rate 7%
$516,343
Cap Rate 9%
$401,600
Alternative Uses
Best Use
Multifamily LT 5
$516.3K
$451.8K – $602.4K
NOI $36,144 @ 7.0% cap · market cap 6.88%
Second Best
Apartment 5plus
$474.5K
$415.2K – $553.6K
NOI $33,216 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$1.09M
$950.4K – $1.27M
NOI $76,032 @ 7.0% cap · market cap 14.48%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
85
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?
Quadplex - New construction fourplex offering open-concept units, ample parking, and private patios.
Where is this quadplex located?
The property is located at 11415 N 24th McAllen, TX.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Brand‑new 4‑plex built in 2025; Side‑by‑side building layout with open‑concept unit designs; Each unit features spacious open‑concept layouts with contemporary finishes
