Modern Fourplex with Covered
For Sale
$550,000
1600 W Violet Drive, Pharr, TX 78577
Fully leased multifamily property with in-unit appliances and covered parking.
Property Size4,412 SF
Days on Market32
Property Features for 1600 W Violet Drive
General Information
Standard status
Active
Size
4,412 SF
Property subtype
Quadruplex
Occupancy
100%
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$6,572
Amenities
stove
refrigerator
microwave
washer
dryer
tile flooring
ceiling fans
covered parking
Building Details
Building Size
4,412 SF
Year Built
2024
Construction
modern
Listing Agency:
Omega Realty Group
Listed By:
Gabriela Cano
(956) 457-1006
Source:
Primeluxuryrealestate
Added: Sep 6
Changed: Sep 27
Last Checked: Oct 5 at 9:43PM
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 Omega Realty Group
Investment Insights
Based on property information with market context.
Completed in 2024, this fourplex contains four two-bedroom, two-bath units with practical layouts designed for everyday residential use. Each unit includes a stove, refrigerator, microwave, washer, and dryer. Tile flooring and ceiling fans are installed throughout, while covered parking accommodates two vehicles per unit.
The property is fully leased and located near medical services, schools, shopping, and dining options. Its residential configuration, recent construction, included appliances, and on-site covered parking provide a clearly defined multifamily asset for an income-property portfolio.
The property is fully leased and located near medical services, schools, shopping, and dining options. Its residential configuration, recent construction, included appliances, and on-site covered parking provide a clearly defined multifamily asset for an income-property portfolio.
Key Highlights
- Four units, each with a 2 bed/2 bath layout
- Completed in 2024
- Stove, refrigerator, microwave, washer, and dryer in every unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,583
Cap Rate
7.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$771,660
$771.7K
Cap Rate 7%
$551,186
$551.2K
Cap Rate 9%
$428,700
$428.7K
Market Conditions
NOI Build-Up for 4,412 SF
Gross rent
$61.9K $14.04/SF
− Vacancy
−$6.8K −$1.55/SF
EGI
$55.1K $12.49/SF
− OpEx
−$16.5K −$3.75/SF
NOI
$38.6K $8.74/SF
Area
Hidalgo County, TX
Vacancy
11.02%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$771,660
Cap Rate 7%
$551,186
Cap Rate 9%
$428,700
Alternative Uses
Best Use
Multifamily LT 5
$551.2K
$482.3K – $643.1K
NOI $38,583 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$507.5K
$444.0K – $592.1K
NOI $35,523 @ 7.0% cap · market cap 6.46%
Theoretical Best
Hotel Hospitality
$3.32M
$2.91M – $3.88M
NOI $232,623 @ 7.0% cap · market cap 42.30%
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
Location Intelligence
Trade Area within ½ mile
564
Businesses Nearby
Explore this area
Business Placement
Demographics for 78577, TX
79,937
Population
26,568
Households
3
Avg Household Size
30
Median Age
18%
College-Educated
70%
High-School Grad
26.0 sq mi
ZIP Area
3,075
Density / Sq Mi
$49,768
Median Household Income
$28,186
Median Earnings
$988
Median Rent
$111,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased multifamily property with in-unit appliances and covered parking.
Where is this quadplex located?
The property is located at 1600 W Violet Drive Pharr, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Four units, each with a 2 bed/2 bath layout; Completed in 2024; Stove, refrigerator, microwave, washer, and dryer in every unit
