Four-Unit Quadplex with Leased
For Sale
$375,000
1613 Tampa St, Edinburg, TX 78541
Fully leased fourplex with two-bedroom residences, two bathrooms per unit, and included kitchen appliances.
Property Size4,088 SF
Price / SF$91.73
Days on Market83
Property Features for 1613 Tampa St
General Information
Standard status
Active
Size
4,088 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Building Details
Year Built
2004
Listing Agency:
Empower Realty Group
Listed By:
Daniel Diaz · License #TREC#0609682
(956) 332-3231
Source:
Aregtx
Added: Jul 24
Changed: Oct 13
Last Checked: Oct 12 at 9:03PM
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 Empower Realty Group
Investment Insights
Based on property information with market context.
Built in 2004, this fourplex contains four residential units, each arranged with two bedrooms, two bathrooms, and approximately 1,022 square feet of living area. The residences include kitchen appliances, and all four units are currently leased, providing an occupied multifamily configuration.
The property is located within the Summer Winds subdivision in Edinburg and sits near UTRGV, shopping centers, and major highways. Its four-unit layout offers a straightforward residential income property format with consistent unit design across the building.
The property is located within the Summer Winds subdivision in Edinburg and sits near UTRGV, shopping centers, and major highways. Its four-unit layout offers a straightforward residential income property format with consistent unit design across the building.
Key Highlights
- Fourplex with 4 units, each offering 2 bedrooms and 2 bathrooms
- Each residence contains approximately 1,022 sq. ft. of living space
- All 4 units are currently leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,320
Cap Rate
9.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$686,400
$686.4K
Cap Rate 7%
$490,286
$490.3K
Cap Rate 9%
$381,333
$381.3K
Market Conditions
NOI Build-Up for 4,088 SF
Gross rent
$64.3K $15.72/SF
− Vacancy
−$1.9K −$0.46/SF
EGI
$62.4K $15.26/SF
− OpEx
−$28.1K −$6.87/SF
NOI
$34.3K $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%
$686,400
Cap Rate 7%
$490,286
Cap Rate 9%
$381,333
Alternative Uses
Best Use
Multifamily LT 5
$548.6K
$480.1K – $640.1K
NOI $38,404 @ 7.0% cap · market cap 10.24%
Second Best
Apartment 5plus
$490.3K
$429.0K – $572.0K
NOI $34,320 @ 7.0% cap · market cap 9.15%
Theoretical Best
Office A
$1.06M
$928.1K – $1.24M
NOI $74,251 @ 7.0% cap · market cap 19.80%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
91
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 - Fully leased fourplex with two-bedroom residences, two bathrooms per unit, and included kitchen appliances.
Where is this quadplex located?
The property is located at 1613 Tampa St Edinburg, TX.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Fourplex with 4 units, each offering 2 bedrooms and 2 bathrooms; Each residence contains approximately 1,022 sq. ft. of living space; All 4 units are currently leased
