Two-Story
For Sale
$465,000
1607 W Omni Avenue, Pharr, TX 78577
Residential Income, Pharr, TX
Property Size4,800 SF
Lot Size0.20 Acres
Price / SF$96.88
Days on Market148
Property Features for 1607 W Omni Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
None
Appliances
Electric Water Heater
Subdivision
Jackson South Estates
Lot features
Sidewalks
Elementary school
Palmer
Middle school
Kennedy
High school
Southwest H.S.
Elementary school district
PSJA ISD
Middle school district
PSJA ISD
High school district
PSJA ISD
Directions
Head East on E El Rancho Ave toward S Jackson Rd. Turn right onto S Jackson Rd, left onto Hyatt St., right onto S Sheraton Ave, left onto W Omni Ave - Property located on the left on the corner.
Standard status
Active
APN
J235500000010600
Size
4,800 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11432
HOA Fee
$750 Annually
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
gated community
Building Details
Year built
2007
Floors in Building
2
Number of units
4
Building materials
Brick, Stone
Roof type
Shingle
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Jaime Lee Gonzalez · License #713189
(956) 599-8400
Added: May 13
Changed: Sep 4
Last Checked: Oct 7 at 5:06PM
MLS# 488985
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 2007 quadplex in Pharr contains four residential units across approximately 4,800 square feet of living space. The two exterior residences each provide 3 bedrooms and 2.5 baths, while the two interior residences each include 2 bedrooms and 2.5 baths. Brick and stone construction, shingle roofing, central heating, central air, and an electric water heater are included.
The property occupies 0.2025 acres at 1607 W Omni Avenue in Pharr, Texas, within a gated community. Shopping, restaurants, and nearby attractions are located in the surrounding area. Public water serves the property, and no parking features are identified.
The property occupies 0.2025 acres at 1607 W Omni Avenue in Pharr, Texas, within a gated community. Shopping, restaurants, and nearby attractions are located in the surrounding area. Public water serves the property, and no parking features are identified.
Key Highlights
- Four‑unit quadplex built in 2007
- Approximately 4,800 sq. ft. of living space on 0.2025 acres
- Two outer units with 3 bedrooms and 2.5 baths each
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,976
Cap Rate
9.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$839,520
$839.5K
Cap Rate 7%
$599,657
$599.7K
Cap Rate 9%
$466,400
$466.4K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$67.4K $14.04/SF
− Vacancy
−$7.4K −$1.55/SF
EGI
$60.0K $12.49/SF
− OpEx
−$18.0K −$3.75/SF
NOI
$42.0K $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%
$839,520
Cap Rate 7%
$599,657
Cap Rate 9%
$466,400
Alternative Uses
Best Use
Multifamily LT 5
$599.7K
$524.7K – $699.6K
NOI $41,976 @ 7.0% cap · market cap 9.03%
Second Best
Apartment 5plus
$552.1K
$483.1K – $644.1K
NOI $38,647 @ 7.0% cap · market cap 8.31%
Theoretical Best
Hotel Hospitality
$3.62M
$3.16M – $4.22M
NOI $253,080 @ 7.0% cap · market cap 54.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
66
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
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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 - Gated four-unit property with varied floor plans, central heating and cooling, and public water service.
Where is this quadplex located?
The property is located at 1607 W Omni Avenue Pharr, TX.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 2007; Approximately 4,800 sq. ft. of living space on 0.2025 acres; Two outer units with 3 bedrooms and 2.5 baths each
