1425 E Iris Avenue, McAllen, TX 78501
Fully occupied fourplex with two buildings and a mix of one- and two-bedroom units.
- Added:
- Jun 9, 2026
- Days on Market:
- 12
- Last Refresh:
- Jun 20 at 4:07 am
Property Features for 1425 E Iris Avenue
General Information
- Standard status
- Active
- Size
- 4,320 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2023
Listing agent Jaime Lee Gonzalez License #TXTX
Listing office Keller Williams Realty RGV
Listing date Jun 9, 2026
Source Crexi
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 Keller Williams Realty RGV
HighLights
- 2023‑built fourplex with two buildings and a total of four fully occupied units
- Unit mix: two 2‑bedroom/2‑bath units and two 1‑bedroom/1‑bath units (one of each per building)
- Park Terrace subdivision location at the southwest corner of Jackson Road and Jonquil Avenue
Overview
The buildings are located in the Park Terrace subdivision at the southwest corner of Jackson Road and Jonquil Avenue, at 1425 E Iris Avenue in McAllen, Texas. The property is described as being minutes from DHR and the medical district, along with nearby dining and retail destinations.
For buyers seeking a manageable residential income property, this fourplex offers straightforward operations with only four units and a balanced mix of 1- and 2-bedroom floorplans. The seller’s remarks also indicate the property is well maintained and fully leased, which may appeal to investors looking for a currently occupied asset rather than a vacancy-dependent purchase.
Local 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 | $59.6k | $13.80 |
| − Vacancy | −$3.9k | −$0.89 |
| EGI | $55.8k | $12.91 |
| − OpEx | −$16.7k | −$3.87 |
| NOI | $39.0k | $9.04 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- McAllen
- County
- Hidalgo
- State
- Texas
- Longitude
- -98.229945
- Latitude
- 26.235293
