24-Unit Apartment
For Sale
$2,395,000
1800 Palm Blvd. Unit 206, Brownsville, TX 78520
Multifamily property with one- and two-bedroom residences near downtown Brownsville and UTB/TSC.
Property Size19,561 SF
Price / SF$122.44
Days on Market42
Property Features for 1800 Palm Blvd. Unit 206
General Information
Standard status
Active
Size
19,561 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1BA, 20 x 1BR/1BA
Multifamily Units
24
Amenities
wood floors
tile floors
granite counter tops
ceiling fans
refrigerator
stove
Building Details
Year Built
1950
Listing Agency:
RCR Real Connect Realty
(956) 459-4116
Listed By:
Catalina Presas · License #0546920
Source:
Accessrealtyrgv
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 30 at 8:50PM
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 RCR Real Connect Realty
Investment Insights
Based on property information with market context.
This 24-unit apartment property includes 19,561 SF of improvements built in 1950. The unit mix comprises four two-bedroom, one-bath residences and twenty one-bedroom, one-bath residences. Each apartment includes a living room and dining area, with finishes that include wood or tile flooring, granite countertops, and ceiling fans. Refrigerators and stoves are provided in all units.
The property is located minutes from Historic Downtown Brownsville and Gladys Porter Zoo, with UTB/TSC also identified in the surrounding context. Its address is 1800 Palm Blvd. Unit 206, Brownsville, TX 78520. The owner will consider owner financing.
The property is located minutes from Historic Downtown Brownsville and Gladys Porter Zoo, with UTB/TSC also identified in the surrounding context. Its address is 1800 Palm Blvd. Unit 206, Brownsville, TX 78520. The owner will consider owner financing.
Key Highlights
- 24‑unit apartment property with 19,561 SF of improvements
- Unit mix includes four two‑bedroom and twenty one‑bedroom residences
- All apartments include a refrigerator and stove
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$147,998
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,959,960
$3.0M
Cap Rate 7%
$2,114,257
$2.1M
Cap Rate 9%
$1,644,422
$1.6M
Market Conditions
NOI Build-Up for 19,561 SF
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.
Gross rent
$288.7K $14.76/SF
− Vacancy
−$19.6K −$1.00/SF
EGI
$269.1K $13.76/SF
− OpEx
−$121.1K −$6.19/SF
NOI
$148.0K $7.57/SF
Area
Brownsville, TX
Vacancy
6.80%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,959,960
Cap Rate 7%
$2,114,257
Cap Rate 9%
$1,644,422
Alternative Uses
Best Use
Apartment 5plus
$2.11M
$1.85M – $2.47M
NOI $147,998 @ 7.0% cap · market cap 6.18%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$3.37M
$2.95M – $3.93M
NOI $235,765 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24
Residential units
Location Intelligence
Trade Area within ½ mile
790
Businesses Nearby
Explore this area
Business Placement
Demographics for 78520, TX
64,949
Population
22,543
Households
2.9
Avg Household Size
34
Median Age
23%
College-Educated
69%
High-School Grad
39.7 sq mi
ZIP Area
1,636
Density / Sq Mi
$47,331
Median Household Income
$27,529
Median Earnings
$842
Median Rent
$129,200
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?
Apartment building - Multifamily property with one- and two-bedroom residences near downtown Brownsville and UTB/TSC.
Where is this apartment building located?
The property is located at 1800 Palm Blvd. Unit 206 Brownsville, TX.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: 24‑unit apartment property with 19,561 SF of improvements; Unit mix includes four two‑bedroom and twenty one‑bedroom residences; All apartments include a refrigerator and stove
