Fourplex in Gated
New
For Sale
$392,000
1623 Orlando Street, Edinburg, TX 78541
Four two-bedroom, two-bath apartments were built in 2004 and share access to a community pool.
Property Size4,088 SF
Price / SF$95.89
Days on Market4
Property Features for 1623 Orlando Street
General Information
Standard status
Active
Size
4,088 SF
Total Parking Spaces
8
Property subtype
Multi Family Home
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$6,015
Amenities
pool
Ceiling Fan(s)
Dryer
Washer
Mature Trees
Building Details
Building Size
4,088 SF
Year Built
2004
Buildings
2
Stories
1
Units
4
Listing Agency:
Distinguished Properties
Listed By:
Elena Rodriguez
(956) 222-6303
Source:
Gdvrealty
Added: Oct 22
Changed: Oct 23
Last Checked: Oct 23 at 4:54PM
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 Distinguished Properties
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Investment Insights
Based on property information with market context.
This 2004-built quadplex contains four apartments, each with two bedrooms and two bathrooms, within the gated Summer Winds subdivision. The building totals 4,088 square feet, and residents have access to a community pool amid mature trees and maintained grounds.
The property is at 1623 Orlando Street in Edinburg, Texas, with universities, shopping, restaurants, and major roadways noted nearby. It may be acquired individually or as part of a portfolio of six fourplexes comprising 24 units.
The property is at 1623 Orlando Street in Edinburg, Texas, with universities, shopping, restaurants, and major roadways noted nearby. It may be acquired individually or as part of a portfolio of six fourplexes comprising 24 units.
Key Highlights
- Four apartments, each configured with 2 bedrooms and 2 bathrooms
- 4,088‑square‑foot building completed in 2004
- Located within the gated Summer Winds subdivision
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,320
Cap Rate
8.76%
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 9.80%
Second Best
Apartment 5plus
$490.3K
$429.0K – $572.0K
NOI $34,320 @ 7.0% cap · market cap 8.76%
Theoretical Best
Office A
$1.06M
$928.1K – $1.24M
NOI $74,251 @ 7.0% cap · market cap 18.94%
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
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
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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
Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom, two-bath apartments were built in 2004 and share access to a community pool.
Where is this quadplex located?
The property is located at 1623 Orlando Street Edinburg, TX.
What is the asking price?
The asking price for this property is $392,000.
What are key features of this property?
This property features: Four apartments, each configured with 2 bedrooms and 2 bathrooms; 4,088‑square‑foot building completed in 2004; Located within the gated Summer Winds subdivision
