Six-Unit Multifamily
For Sale
$379,000
613 S 12th Street McAllen, McAllen, TX 78501
Fully occupied six-unit multifamily property with all units leased and generating rental income.
Property Size3,343 SF
Days on Market35
Property Features for 613 S 12th Street McAllen
General Information
Standard status
Active
Size
3,343 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Cap Rate
7.7%
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$7,689
Building Details
Building Size
3,343 SF
Year Built
1971
Listing Agency:
RE/MAX elite
(956) 330-3674
Listed By:
Erasmo Arjona
Source:
Primeluxuryrealestate
Added: Jul 20
Changed: Aug 7
Last Checked: Aug 22 at 11:10AM
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 RE/MAX elite
Investment Insights
Based on property information with market context.
This fully occupied six-unit multifamily property is designed for straightforward rental income. The existing units are described as well-maintained and leased, supporting an all-units-in-place configuration.
The property is located in the 78501 zip code in Downtown McAllen and is positioned just minutes from 10th Street and Expressway 83, providing convenient access for tenants.
For sale as an income-producing investment, the offering includes current rent performance as well as an estimated cap rate referenced in the remarks.
The property is located in the 78501 zip code in Downtown McAllen and is positioned just minutes from 10th Street and Expressway 83, providing convenient access for tenants.
For sale as an income-producing investment, the offering includes current rent performance as well as an estimated cap rate referenced in the remarks.
Key Highlights
- Fully occupied 6‑unit multifamily property with all units leased
- Year built: 1971
- Nearly $4,000/month in rents
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,761
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$555,220
$555.2K
Cap Rate 7%
$396,586
$396.6K
Cap Rate 9%
$308,456
$308.5K
Market Conditions
NOI Build-Up for 3,343 SF
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.
Gross rent
$54.2K $16.20/SF
− Vacancy
−$3.7K −$1.10/SF
EGI
$50.5K $15.10/SF
− OpEx
−$22.7K −$6.79/SF
NOI
$27.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$555,220
Cap Rate 7%
$396,586
Cap Rate 9%
$308,456
Alternative Uses
Best Use
Apartment 5plus
$396.6K
$347.0K – $462.7K
NOI $27,761 @ 7.0% cap · market cap 7.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$907.8K
$794.3K – $1.06M
NOI $63,544 @ 7.0% cap · market cap 16.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,435
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied six-unit multifamily property with all units leased and generating rental income.
Where is this apartment building located?
The property is located at 613 S 12th Street McAllen McAllen, TX.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: Fully occupied 6‑unit multifamily property with all units leased; Year built: 1971; Nearly $4,000/month in rents
