8-Unit Two-Story Apartment
For Sale
$675,000
417 N 28th St, McAllen, TX 78501
Consistent apartment layout with two bedrooms and one-and-a-half baths in each residence.
Property Size6,486 SF
Price / SF$104.07
Days on Market24
Property Features for 417 N 28th St
General Information
Standard status
Active
Size
6,486 SF
Property subtype
Multi-Family
Units
Unit Mix
8 x 2BR/1.5BA
Multifamily Units
8
Building Details
Year Built
1994
Listing Agency:
Realty Executives RGV
Listed By:
Romayeo (Ronnie) R. Esparza · License #0609166
(956) 433-9557
Source:
Aregtx
Added: Sep 14
Changed: Sep 24
Last Checked: Oct 5 at 11:27PM
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 Realty Executives RGV
Investment Insights
Based on property information with market context.
This 8-unit apartment building contains 6,486 square feet and was constructed in 1994. Each residence spans two stories and includes 2 bedrooms and 1.5 baths, providing a consistent configuration across the property.
The property is located at 417 N 28th St in McAllen, Texas, within blocks of South Texas College and the McAllen convention center. Its eight residences and established construction offer a clearly defined multifamily format.
The property is located at 417 N 28th St in McAllen, Texas, within blocks of South Texas College and the McAllen convention center. Its eight residences and established construction offer a clearly defined multifamily format.
Key Highlights
- 8‑unit apartment building
- 6,486 square feet
- Each unit includes 2 bedrooms and 1.5 baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,861
Cap Rate
7.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,077,220
$1.1M
Cap Rate 7%
$769,443
$769.4K
Cap Rate 9%
$598,456
$598.5K
Market Conditions
NOI Build-Up for 6,486 SF
Gross rent
$105.1K $16.20/SF
− Vacancy
−$7.1K −$1.10/SF
EGI
$97.9K $15.10/SF
− OpEx
−$44.1K −$6.79/SF
NOI
$53.9K $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 Rate 5%
$1,077,220
Cap Rate 7%
$769,443
Cap Rate 9%
$598,456
Alternative Uses
Best Use
Apartment 5plus
$769.4K
$673.3K – $897.7K
NOI $53,861 @ 7.0% cap · market cap 7.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $123,286 @ 7.0% cap · market cap 18.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
899
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Consistent apartment layout with two bedrooms and one-and-a-half baths in each residence.
Where is this apartment building located?
The property is located at 417 N 28th St McAllen, TX.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 8‑unit apartment building; 6,486 square feet; Each unit includes 2 bedrooms and 1.5 baths
