Four-Unit Residential Income
For Sale
$600,000
3004 L St, McAllen, TX 78503
Four-unit residential property offers 3-bedroom, 3-bath units with open-concept layouts.
Property Size5,480 SF
Price / SF$109.49
Days on Market20
Property Features for 3004 L St
General Information
Standard status
Active
Size
5,480 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Building Details
Year Built
2014
Listing Agency:
Keller Williams Realty RGV
(956) 566-8377
Listed By:
Jaime Lee Gonzalez
Source:
Aregtx
Added: Jul 16
Changed: Jul 17
Last Checked: Aug 3 at 8:53AM
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 Keller Williams Realty RGV
Investment Insights
Based on property information with market context.
This four-unit residential income property features four separate units, each offering a 3-bedroom, 3-bath configuration with an open-concept layout.
The property is located near La Plaza Mall, shopping, and major conveniences, supporting everyday tenant access to nearby goods and services.
Offered for sale as a multi-family investment opportunity, the building’s unit mix is consistent across all four units, providing a straightforward structure for an operator or investor to manage.
The property is located near La Plaza Mall, shopping, and major conveniences, supporting everyday tenant access to nearby goods and services.
Offered for sale as a multi-family investment opportunity, the building’s unit mix is consistent across all four units, providing a straightforward structure for an operator or investor to manage.
Key Highlights
- 2014‑built 4‑unit multi‑family property
- Each unit offers 3 bedrooms and 3 bathrooms
- Open‑concept layout in each unit
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $75.6k | $13.80 |
| − Vacancy | −$4.9k | −$0.89 |
| EGI | $70.7k | $12.91 |
| − OpEx | −$21.2k | −$3.87 |
| NOI | $49.5k | $9.04 |
5,480 SF · lease $13.80/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$707.4K
$619.0K – $825.3K
NOI $49,517 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$650.1K
$568.8K – $758.5K
NOI $45,507 @ 7.0% cap · market cap 7.58%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,164 @ 7.0% cap · market cap 17.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
548
Businesses Nearby
Explore this area
Business Placement
Demographics for 78503, TX
23,604
Population
8,090
Households
2.9
Avg Household Size
35
Median Age
25%
College-Educated
71%
High-School Grad
19.2 sq mi
ZIP Area
1,229
Density / Sq Mi
$48,765
Median Household Income
$27,514
Median Earnings
$1,087
Median Rent
$130,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential property offers 3-bedroom, 3-bath units with open-concept layouts.
Where is this quadplex located?
The property is located at 3004 L St McAllen, TX.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 2014‑built 4‑unit multi‑family property; Each unit offers 3 bedrooms and 3 bathrooms; Open‑concept layout in each unit
