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 Market87
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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
Listed By:
Catalina Presas · License #0546920
(956) 459-4116
Source:
Accessrealtyrgv
Added: Jul 21
Changed: Oct 3
Last Checked: Oct 7 at 4:47PM
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 / Yr
$147,998
Cap Rate
6.18%
Suggested Prices Based on Cap Rates
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
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 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.
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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
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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?
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
