Four-Unit Brick
For Sale
$379,000
1602 Portales Drive, Edinburg, TX 78541
Residential Income, Edinburg, TX
Property Size3,808 SF
Lot Size0.32 Acres
Price / SF$99.53
Days on Market107
Property Features for 1602 Portales Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking
8
Parking features
None
Exterior features
Sprinkler System
Fencing
Privacy
Appliances
Electric Water Heater, Dryer, Refrigerator, Stove/Range, Washer
Subdivision
Los Portales
Lot features
Corner Lot, Curb & Gutters, Mature Trees, Sidewalks, Sprinkler System
Elementary school
Truman
Middle school
B.L. Gray Junior High
High school
Edinburg H.S.
Elementary school district
Edinburg ISD
Middle school district
Edinburg ISD
High school district
Edinburg ISD
Directions
North from 107 on Sugar Rd, turn West on Los Portales
Standard status
Active
APN
L635700000002800
Size
3,808 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5752
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2003
Floors in Building
1
Number of units
4
Building materials
Brick
Roof type
Composition
Listing Agency:
Distinguished Properties
Listed By:
Elena Rodriguez
(956) 222-6303
Added: Jul 1
Changed: Oct 8
Last Checked: Oct 15 at 12:06AM
MLS# 507860
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.
Investment Insights
Based on property information with market context.
This 2003 brick quadplex contains four 2-bedroom, 2-bath residences within 3,808 square feet. Each unit features tile flooring, while the property is equipped with central electric heating and central air conditioning. The units include refrigerators, stove/ranges, washers, dryers, and electric water heaters.
The 0.3183-acre property is located in Edinburg, TX, with public water service, composition roofing, privacy fencing, and a sprinkler system. The property may be acquired individually or included in a larger package of six separate quadplexes totaling 24 units.
The 0.3183-acre property is located in Edinburg, TX, with public water service, composition roofing, privacy fencing, and a sprinkler system. The property may be acquired individually or included in a larger package of six separate quadplexes totaling 24 units.
Key Highlights
- Four 2‑bedroom, 2‑bath units
- 3,808 square feet on 0.3183 acres
- Built in 2003 with brick construction
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.
How Realmo checks its estimates
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
Explore this area
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom residences with tile flooring, central systems, and in-unit laundry appliances.
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 square feet on 0.3183 acres; Built in 2003 with brick construction
