Fully Leased
For Sale
$510,000
1425 E Iris Avenue, McAllen, TX 78501
Residential Income, McAllen, TX
Property Size4,320 SF
Lot Size0.21 Acres
Price / SF$118.06
Days on Market130
Property Features for 1425 E Iris Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
8
Parking features
Garage
Appliances
Electric Water Heater, Dryer, Refrigerator, Stove/Range-Electric Smooth, Washer
Subdivision
Park Terrace
Lot features
Irregular Lot
Elementary school
Milam
Middle school
Cathey
High school
Memorial H.S.
Elementary school district
McAllen ISD
Middle school district
McAllen ISD
High school district
McAllen ISD
Directions
From 495/Ferguson Ave head north on Jackson Rd, turn left onto Jonquil Ave. Park Terrace subdivision will be on the left hand side.
Standard status
Active
APN
P375800000004500
Size
4,320 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15118
HOA Fee
$500 Annually
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2023
Floors in Building
1
Number of units
4
Building materials
Stucco
Roof type
Shingle
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Jaime Lee Gonzalez · License #713189
(956) 599-8400
Added: Jun 8
Changed: Oct 8
Last Checked: Oct 15 at 11:06PM
MLS# 506697
Copyright © 2026 Greater McAllen Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 2023, this 4,320-square-foot quadplex contains four units across two buildings on a 0.2087-acre lot. Each building includes one 2-bedroom, 2-bathroom residence and one 1-bedroom, 1-bathroom residence, creating an even unit mix. The property is fully occupied and features stucco construction, shingle roofing, central heating, central air, public water, and garage parking. Appliances include refrigerators, electric ranges, washers, dryers, and an electric water heater.
The property is located at 1425 E Iris Avenue in McAllen’s Park Terrace subdivision, at the southwest corner of Jackson Road and Jonquil Avenue. DHR, the medical district, dining, and retail destinations are located minutes away.
The property is located at 1425 E Iris Avenue in McAllen’s Park Terrace subdivision, at the southwest corner of Jackson Road and Jonquil Avenue. DHR, the medical district, dining, and retail destinations are located minutes away.
Key Highlights
- Four units across two buildings with one 2‑bedroom and one 1‑bedroom residence in each building
- 4,320 square feet on a 0.2087‑acre lot
- Fully occupied and fully leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,035
Cap Rate
7.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$780,700
$780.7K
Cap Rate 7%
$557,643
$557.6K
Cap Rate 9%
$433,722
$433.7K
Market Conditions
NOI Build-Up for 4,320 SF
Gross rent
$59.6K $13.80/SF
− Vacancy
−$3.9K −$0.89/SF
EGI
$55.8K $12.91/SF
− OpEx
−$16.7K −$3.87/SF
NOI
$39.0K $9.04/SF
Area
McAllen, TX
Vacancy
6.46%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$780,700
Cap Rate 7%
$557,643
Cap Rate 9%
$433,722
Alternative Uses
Best Use
Multifamily LT 5
$557.6K
$487.9K – $650.6K
NOI $39,035 @ 7.0% cap · market cap 7.65%
Second Best
Apartment 5plus
$512.5K
$448.4K – $597.9K
NOI $35,874 @ 7.0% cap · market cap 7.03%
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,115 @ 7.0% cap · market cap 16.10%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,113
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Two-building residential income property with a balanced one- and two-bedroom unit mix and central heating and cooling.
Where is this quadplex located?
The property is located at 1425 E Iris Avenue McAllen, TX.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Four units across two buildings with one 2‑bedroom and one 1‑bedroom residence in each building; 4,320 square feet on a 0.2087‑acre lot; Fully occupied and fully leased
