New Fourplex in Gated
For Sale
Contact for pricing
1307 Lore Drive, Weslaco, TX 78599
New, fully leased fourplex in Weslaco's Verona gated community.
Property Size4,050 SF
Price / SF$110.86
Days on Market631
Property Features for 1307 Lore Drive
General Information
Standard status
Active
Size
4,050 SF
Property subtype
Multifamily
Building Details
Year Built
2022
Listing Agency:
Imperio Real Estate LLC
Listed By:
Bryanna Hernandez · License #TREC # 0755547
Source:
Crexi
Added: Nov 6, 2024
Changed: Jul 6
Last Checked: Jul 29 at 12:31PM
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 Imperio Real Estate LLC
Investment Insights
Based on property information with market context.
This new fourplex is located within the Verona gated community in Weslaco. The property is situated minutes from shopping centers, grocery stores, and dining options. It comes equipped with appliances and is currently fully leased, providing an income stream. The property size is 4050 square feet.
Key Highlights
- Fully leased fourplex PROVIDING A STEADY INCOME STREAM.
- Located in the gated community of Verona.
- Brand new construction (built in 2022).
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 | $56.9k | $14.04 |
| − Vacancy | −$6.3k | −$1.55 |
| EGI | $50.6k | $12.49 |
| − OpEx | −$15.2k | −$3.75 |
| NOI | $35.4k | $8.74 |
4,050 SF · lease $14.04/SF/yr · vacancy 11.02% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$506.0K
$442.7K – $590.3K
NOI $35,417 @ 7.0% cap · market cap 7.89%
Second Best
Apartment 5plus
$465.8K
$407.6K – $543.5K
NOI $32,608 @ 7.0% cap · market cap 7.26%
Theoretical Best
Hotel Hospitality
$3.05M
$2.67M – $3.56M
NOI $213,536 @ 7.0% cap · market cap 47.56%
Zoning and permitted uses should be independently verified with authorities.
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - New, fully leased fourplex in Weslaco's Verona gated community.
Where is this quadplex located?
The property is located at 1307 Lore Drive Weslaco, TX.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Fully leased fourplex PROVIDING A STEADY INCOME STREAM.; Located in the gated community of Verona.; Brand new construction (built in 2022).
