Fourplex Rental Property with Covered
For Sale
Contact for pricing
1608 Portales Drive, Edinburg, TX 78541
Well-maintained fourplex with four two-bedroom, two-bath units and rear covered parking.
Property Size3,808 SF
Price / SF$101.10
Days on Market10
Property Features for 1608 Portales Drive
General Information
Standard status
Active
Size
3,808 SF
Property subtype
Multifamily
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Building Details
Year Built
2003
Listing Agency:
Capital Advisors Real Estate Group
Listed By:
Alvaro Longoria · License #0759136
Source:
Crexi
Added: Jul 27
Changed: Jul 30
Last Checked: Aug 4 at 10:58AM
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 Capital Advisors Real Estate Group
Investment Insights
Based on property information with market context.
This well-maintained fourplex offers four residential units, each with two bedrooms and two bathrooms. The units include durable tile flooring throughout and come equipped with a refrigerator, stove/oven, and washer and dryer for added tenant convenience. Covered parking is located at the rear of the property, supporting day-to-day resident access.
The property is located at 1608 Portales Drive in Edinburg, TX, just two blocks from the University of Texas Rio Grande Valley (UTRGV). This close proximity is positioned to support consistent tenant demand.
Built in 2003, the building is supported by a straightforward unit configuration that can appeal to tenants seeking a turn-key in-unit appliance package and covered parking.
The property is located at 1608 Portales Drive in Edinburg, TX, just two blocks from the University of Texas Rio Grande Valley (UTRGV). This close proximity is positioned to support consistent tenant demand.
Built in 2003, the building is supported by a straightforward unit configuration that can appeal to tenants seeking a turn-key in-unit appliance package and covered parking.
Key Highlights
- Four‑unit quadplex with four two‑bedroom, two‑bath units
- Tile flooring throughout each unit
- In‑unit appliances include refrigerator and stove/oven
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.9k | $15.72 |
| − Vacancy | −$1.7k | −$0.46 |
| EGI | $58.1k | $15.26 |
| − OpEx | −$26.2k | −$6.87 |
| NOI | $32.0k | $8.40 |
3,808 SF · lease $15.72/SF/yr · vacancy 2.90% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$511.1K
$447.2K – $596.2K
NOI $35,774 @ 7.0% cap · market cap 9.29%
Second Best
Apartment 5plus
$456.7K
$399.6K – $532.8K
NOI $31,969 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$988.1K
$864.6K – $1.15M
NOI $69,165 @ 7.0% cap · market cap 17.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained fourplex with four two-bedroom, two-bath units and rear covered parking.
Where is this quadplex located?
The property is located at 1608 Portales Drive Edinburg, TX.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Four‑unit quadplex with four two‑bedroom, two‑bath units; Tile flooring throughout each unit; In‑unit appliances include refrigerator and stove/oven
