Building Details

Building Size 4,412 SF

Year Built 2024

Buildings 1

Listing Agency: SANETI Realty Group

Listed By: Edna Karen Baez · License #734197 Show Phone

Source: Primeluxuryrealestate

Added: Oct 20 Changed: Oct 21 Last Checked: Oct 24 at 10:47PM

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Investment Insights

Based on property information with market context.

Built in 2024, this fourplex contains two 2-bedroom, 2-bath units and two 3-bedroom, 2-bath units. Each residence has a washer, dryer, refrigerator, stove, and microwave. The property is fully leased.

The building is in San Diego Crossings in Pharr, between Jackson Road, 495, and Sioux Road. Expressway 281, Pharr Town Center, and UT Health RGV Cancer and Surgery Center are nearby.

Key Highlights

• Four residential units: two 2‑bedroom, 2‑bath layouts and two 3‑bedroom, 2‑bath layouts
• Built in 2024
• Fully leased

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

Is this asking price fair?

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 (±1% cap)

NOI $38,583 @ 7.0% cap · market cap 7.02%

Second Best

Apartment 5plus

$507.5K

$444.0K – $592.1K (±1% cap)

NOI $35,523 @ 7.0% cap · market cap 6.46%

Theoretical Best

Hotel Hospitality

$3.32M

$2.91M – $3.88M (±1% cap)

NOI $232,623 @ 7.0% cap · market cap 42.30%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Lease Details

4

Residential units

100%

Occupancy

Yes

Highway access

Yes

Paved road access

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

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - The four-unit property is fully leased and includes appliances in each residence.

Where is this quadplex located?

The property is located at 1602 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 residential units: two 2‑bedroom, 2‑bath layouts and two 3‑bedroom, 2‑bath layouts; Built in 2024; Fully leased