Four-Unit Two-Bedroom
For Sale
Contact for pricing
1602 Portales Drive, Edinburg, TX 78541
The property includes tile flooring and a multi-unit layout with two-bedroom, two-bath residences.
Property Size3,808 SF
Price / SF$99.53
Days on Market109
Property Features for 1602 Portales Drive
General Information
Standard status
Active
Size
3,808 SF
Total Parking Spaces
8
Property subtype
Multifamily
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Building Details
Year Built
2003
Buildings
2
Units
4
Listing Agency:
Distinguished Properties
Listed By:
Elena Rodriguez
(956) 222-6303
Source:
Crexi
Added: Jul 2
Changed: Oct 9
Last Checked: Oct 16 at 9:39AM
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 Distinguished Properties
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Investment Insights
Based on property information with market context.
The 3,808-square-foot quadplex, constructed in 2003, contains four residences, each with two bedrooms and two bathrooms. Tile flooring is included in the units, providing a consistent interior finish across the property.
Located at 1602 Portales Drive in Edinburg, Texas, the property offers access to universities, shopping, dining, and major roadways. It may be purchased individually or as part of a package containing six separate quadplexes totaling 24 units.
Located at 1602 Portales Drive in Edinburg, Texas, the property offers access to universities, shopping, dining, and major roadways. It may be purchased individually or as part of a package containing six separate quadplexes totaling 24 units.
Key Highlights
- Four 2‑bedroom, 2‑bath units
- 3,808 SF quadplex
- Built in 2003
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,969
Cap Rate
8.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$639,380
$639.4K
Cap Rate 7%
$456,700
$456.7K
Cap Rate 9%
$355,211
$355.2K
Market Conditions
NOI Build-Up for 3,808 SF
Gross rent
$59.9K $15.72/SF
− Vacancy
−$1.7K −$0.46/SF
EGI
$58.1K $15.26/SF
− OpEx
−$26.2K −$6.87/SF
NOI
$32.0K $8.40/SF
Area
Edinburg, TX
Vacancy
2.90%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$639,380
Cap Rate 7%
$456,700
Cap Rate 9%
$355,211
Alternative Uses
Best Use
Multifamily LT 5
$511.1K
$447.2K – $596.2K
NOI $35,774 @ 7.0% cap · market cap 9.44%
Second Best
Apartment 5plus
$456.7K
$399.6K – $532.8K
NOI $31,969 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$988.1K
$864.6K – $1.15M
NOI $69,165 @ 7.0% cap · market cap 18.25%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
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Business Placement
Demographics for 78541, TX
48,513
Population
17,669
Households
2.7
Avg Household Size
28
Median Age
25%
College-Educated
77%
High-School Grad
290.2 sq mi
ZIP Area
167
Density / Sq Mi
$50,567
Median Household Income
$30,752
Median Earnings
$945
Median Rent
$142,600
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 - The property includes tile flooring and a multi-unit layout with two-bedroom, two-bath residences.
Where is this quadplex located?
The property is located at 1602 Portales Drive Edinburg, TX.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: Four 2‑bedroom, 2‑bath units; 3,808 SF quadplex; Built in 2003
