Fourplex with Two-Bedroom
For Sale
$375,000
1620 Norma Ln, Edinburg, TX 78539
Four-unit property with appliance packages and tile flooring in every residence.
Property Size3,920 SF
Price / SF$95.66
Days on Market51
Property Features for 1620 Norma Ln
General Information
Standard status
Active
Size
3,920 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Building Details
Year Built
1980
Buildings
1
Listing Agency:
Keller Williams Realty RGV
Listed By:
Jaime Lee Gonzalez · License #713189
(956) 599-8400
Source:
Aregtx
Added: Sep 5
Changed: Oct 25
Last Checked: Oct 7 at 2:57PM
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 Keller Williams Realty RGV
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Investment Insights
Based on property information with market context.
This fourplex contains four residential units, each configured with 2 bedrooms and 2 baths. The 3,920-square-foot property was built in 1980, and every unit includes a washer, dryer, stove, refrigerator, and tile flooring.
The property is located on Norma Ln in Edinburg, between Sugar Road and Freddy Gonzalez Drive. Expressway 83, HEB, schools, and dining destinations are situated within a short drive, providing convenient access to everyday services and transportation routes.
The property is located on Norma Ln in Edinburg, between Sugar Road and Freddy Gonzalez Drive. Expressway 83, HEB, schools, and dining destinations are situated within a short drive, providing convenient access to everyday services and transportation routes.
Key Highlights
- Fourplex with four residential units
- Each unit includes 2 bedrooms and 2 baths
- 3,920 square feet; built in 1980
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,909
Cap Rate
8.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$658,180
$658.2K
Cap Rate 7%
$470,129
$470.1K
Cap Rate 9%
$365,656
$365.7K
Market Conditions
NOI Build-Up for 3,920 SF
Gross rent
$61.6K $15.72/SF
− Vacancy
−$1.8K −$0.46/SF
EGI
$59.8K $15.26/SF
− OpEx
−$26.9K −$6.87/SF
NOI
$32.9K $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%
$658,180
Cap Rate 7%
$470,129
Cap Rate 9%
$365,656
Alternative Uses
Best Use
Multifamily LT 5
$526.1K
$460.3K – $613.8K
NOI $36,826 @ 7.0% cap · market cap 9.82%
Second Best
Apartment 5plus
$470.1K
$411.4K – $548.5K
NOI $32,909 @ 7.0% cap · market cap 8.78%
Theoretical Best
Office A
$1.02M
$890.0K – $1.19M
NOI $71,200 @ 7.0% cap · market cap 18.99%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
175
Businesses Nearby
Explore this area
Business Placement
Demographics for 78539, TX
37,686
Population
15,759
Households
2.4
Avg Household Size
34
Median Age
37%
College-Educated
84%
High-School Grad
12.2 sq mi
ZIP Area
3,089
Density / Sq Mi
$64,864
Median Household Income
$38,413
Median Earnings
$1,034
Median Rent
$198,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property with appliance packages and tile flooring in every residence.
Where is this quadplex located?
The property is located at 1620 Norma Ln 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 four residential units; Each unit includes 2 bedrooms and 2 baths; 3,920 square feet; built in 1980
