New Fourplex in Gated
For Sale
Contact for pricing
1303 Marcela Drive, Weslaco, TX 78599
Recently built fourplex with modern amenities and steady rental demand.
Property Size3,990 SF
Price / SF$119.80
Days on Market699
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Property Features for 1303 Marcela Drive
General Information
Standard status
Active
Size
3,990 SF
Class
A
Total Parking Spaces
8
Property subtype
Multifamily
Net Operating Income
$35,792
Building Details
Year Built
2023
Buildings
2
Stories
1
Units
4
Listing Agency:
Big Realty
Listed By:
Gregorio (Beto) Resendez · License #0808865
Source:
Crexi
Added: Nov 15, 2024
Changed: Oct 2
Last Checked: Oct 14 at 9:18PM
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 Big Realty
Investment Insights
Based on property information with market context.
This fourplex, constructed in 2023, is located within the gated Verona subdivision in Weslaco. Each of the four units features two bedrooms and two bathrooms, designed with an open layout. Interior finishes include quartz counters and wood-look tile flooring. Each unit is equipped with appliances, a washer, and a dryer. Private fenced backyards are included for each unit. The property offers eight covered parking spaces. The location provides convenient access to nearby schools, shopping centers, and dining options. The property size is 3,990 square feet and is intended as a long-term income property.
Key Highlights
- New construction (2023) in a gated community.
- Four individual units, each with 2 beds and 2 baths.
- Each unit has private fenced backyards, washer/dryer, and appliances included.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,892
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$697,840
$697.8K
Cap Rate 7%
$498,457
$498.5K
Cap Rate 9%
$387,689
$387.7K
Market Conditions
NOI Build-Up for 3,990 SF
Gross rent
$56.0K $14.04/SF
− Vacancy
−$6.2K −$1.55/SF
EGI
$49.8K $12.49/SF
− OpEx
−$15.0K −$3.75/SF
NOI
$34.9K $8.74/SF
Area
Hidalgo County, TX
Vacancy
11.02%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$697,840
Cap Rate 7%
$498,457
Cap Rate 9%
$387,689
Alternative Uses
Best Use
Multifamily LT 5
$498.5K
$436.2K – $581.5K
NOI $34,892 @ 7.0% cap · market cap 7.30%
Second Best
Apartment 5plus
$458.9K
$401.6K – $535.4K
NOI $32,125 @ 7.0% cap · market cap 6.72%
Theoretical Best
Hotel Hospitality
$3.01M
$2.63M – $3.51M
NOI $210,373 @ 7.0% cap · market cap 44.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
984
Businesses Nearby
Explore this area
Business Placement
Demographics for 78599, TX
32,500
Population
9,945
Households
3.3
Avg Household Size
29
Median Age
16%
College-Educated
67%
High-School Grad
26.5 sq mi
ZIP Area
1,226
Density / Sq Mi
$55,939
Median Household Income
$27,841
Median Earnings
$954
Median Rent
$113,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Recently built fourplex with modern amenities and steady rental demand.
Where is this quadplex located?
The property is located at 1303 Marcela Drive Weslaco, TX.
What is the asking price?
The asking price for this property is $478,000.
What are key features of this property?
This property features: New construction (2023) in a gated community.; Four individual units, each with 2 beds and 2 baths.; Each unit has private fenced backyards, washer/dryer, and appliances included.
