Harlingen Multifamily Investment
1921 Dennis Street, Harlingen, TX 78550
New
MULTI_FAMILY - Harlingen, TX
Property size:
2,808 SFLot size:
0.27 AcresPrice / SF:
$137/SF- Added:
- May 16, 2026
- Days on Market:
- 1
- Last Refresh:
- May 16 at 3:06 pm
Property Features for 1921 Dennis Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Other, Carport, Garage
- Patio and Porch features
- Patio
- Exterior features
- Mature Trees
- Fencing
- Privacy
- Appliances
- Electric Water Heater, Water Heater (Other Location), Refrigerator, Stove/Range
- Standard status
- Active
- APN
- 1836800010001000
- Size
- 2,808 SF
- Lot size
- 0.27 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 6263
Utilities
- Heating system
- Central, Electric (Heating)
- Cooling system
- Electric, Central Air
- Water source
- Public
Building Details
- Year built
- 2005
- Floors in Building
- 2
- Number of units
- 4
- Building materials
- Brick, Wood Siding
- Roof type
- Shingle
Listing agent Diana Martinez-Moon (956) 456-6103
Listing office RE/MAX Platinum 1200 Auburn Ave Suite 285 Suite 220, McAllen, TX (956) 668-8555
Listing date May 16, 2026
MLS# 504440
Listing URL
Copyright © 2026 Greater McAllen Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Turnkey and fully leased, providing immediate rental income with stable, long‑term tenants.
- Significant future development potential with nearly 12,000 sq ft lot and space to potentially add an additional 4‑plex.
- Low‑maintenance operation with owner‑paid water and minimal expenses.
- Well‑maintained property reflecting pride of ownership, including a roof replaced in 2018.
- Convenient location on a quiet dead‑end street with easy access to schools, grocery stores, and public transportation (Bus 77 Sunshine Strip).
- Six parking spaces available, including carport and garage.
Overview
This multifamily property in Harlingen, Texas, presents a turnkey investment opportunity. The property features four 2-bedroom, 1-bath units, all currently leased to long-term tenants. The property has been exceptionally maintained. The roof was replaced in 2018. The operation is low-maintenance, with owner-paid water and minimal expenses. Situated on a nearly 12,000 square foot lot, the property includes 6 parking spaces and offers future development potential, including the possibility of adding an additional 4-plex. The property is located on a quiet dead-end street with minimal traffic, while still providing convenient access to schools, grocery stores, and Bus 77 Sunshine Strip. The property size is 2,808 square feet and the lot size is 0.2713 acres. This well-cared-for asset with a strong occupancy history and expansion potential is an excellent addition to an investment portfolio.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$257.4K
NOI $23,167 @ 9.00% cap · cautious / downside scenario
Moderate
$331.0K
NOI $23,167 @ 7.00% cap · market / base-case scenario
Aggressive
$463.3K
NOI $23,167 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.4k | $12.60 |
| − Vacancy | −$2.3k | −$0.81 |
| EGI | $33.1k | $11.79 |
| − OpEx | −$9.9k | −$3.54 |
| NOI | $23.2k | $8.25 |
2,808 SF · lease $12.60/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$331.0K
$289.6K – $386.1K
NOI $23,167 @ 7.0% cap · market cap 6.02%
Second Best
Apartment 5plus
$303.5K
$265.6K – $354.1K
NOI $21,245 @ 7.0% cap · market cap 5.52%
Theoretical Best
Healthcare Medical
$483.5K
$423.1K – $564.1K
NOI $33,844 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Harlingen
- County
- Cameron
- State
- Texas
- Longitude
- -97.700095
- Latitude
- 26.21182
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Turnkey, fully leased four-unit property with expansion potential.
Where is this quadplex located?
The property is located at 1921 Dennis Street Harlingen, TX.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Turnkey and fully leased, providing immediate rental income with stable, long‑term tenants.; Significant future development potential with nearly 12,000 sq ft lot and space to potentially add an additional 4‑plex.; Low‑maintenance operation with owner‑paid water and minimal expenses.
