Four-Unit Apartment
For Sale
$425,000
6509 N 8th St, McAllen, TX 78504
All residences are leased and include indoor laundry areas, tile flooring, and open dining space.
Property Size4,480 SF
Price / SF$94.87
Days on Market10
Property Features for 6509 N 8th St
General Information
Standard status
Active
Size
4,480 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Amenities
indoor laundry
Building Details
Year Built
2000
Tenancy
Multi
Listing Agency:
Imperio Real Estate LLC
Listed By:
Jorge Valdez
(956) 803-0341
Source:
Aregtx
Added: Sep 28
Last Checked: Oct 5 at 10:36PM
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.
Built in 2000, this four-unit residential property contains 4,480 square feet. Each apartment has two bedrooms, two bathrooms, an indoor laundry area, tile flooring, and an open dining area. Kitchens include cabinet storage, while the bedrooms are described as spacious.
The property is on the north side of McAllen, near DHR Health Hospital, HEB, Walmart, Sam’s Club, shopping centers, restaurants, and major thoroughfares. All four apartments are currently leased.
The property is on the north side of McAllen, near DHR Health Hospital, HEB, Walmart, Sam’s Club, shopping centers, restaurants, and major thoroughfares. All four apartments are currently leased.
Key Highlights
- Four apartments, each with 2 bedrooms and 2 bathrooms
- 4,480 square feet; built in 2000
- All four units currently leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,202
Cap Rate
8.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$744,040
$744.0K
Cap Rate 7%
$531,457
$531.5K
Cap Rate 9%
$413,356
$413.4K
Market Conditions
NOI Build-Up for 4,480 SF
Gross rent
$72.6K $16.20/SF
− Vacancy
−$4.9K −$1.10/SF
EGI
$67.6K $15.10/SF
− OpEx
−$30.4K −$6.79/SF
NOI
$37.2K $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%
$744,040
Cap Rate 7%
$531,457
Cap Rate 9%
$413,356
Alternative Uses
Best Use
Multifamily LT 5
$578.3K
$506.0K – $674.7K
NOI $40,481 @ 7.0% cap · market cap 9.52%
Second Best
Apartment 5plus
$531.5K
$465.0K – $620.0K
NOI $37,202 @ 7.0% cap · market cap 8.75%
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,156 @ 7.0% cap · market cap 20.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,001
Businesses Nearby
Explore this area
Business Placement
Demographics for 78504, TX
56,830
Population
21,417
Households
2.7
Avg Household Size
35
Median Age
40%
College-Educated
86%
High-School Grad
19.6 sq mi
ZIP Area
2,899
Density / Sq Mi
$77,627
Median Household Income
$41,632
Median Earnings
$1,178
Median Rent
$203,900
Median Home Value
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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?
Quadplex - All residences are leased and include indoor laundry areas, tile flooring, and open dining space.
Where is this quadplex located?
The property is located at 6509 N 8th St McAllen, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 2 bathrooms; 4,480 square feet; built in 2000; All four units currently leased
