Building Details

Year Built 2024

Buildings 2

Units 4

Listing Agency: Star Realty Group, LLC

Listed By: Juan Lozano Show Phone

Source: Crexi

Added: May 19 Changed: Oct 13 Last Checked: Oct 14 at 10:07PM

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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 Star Realty Group, LLC

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Investment Insights

Based on property information with market context.

Completed in 2024, this 4,200-square-foot multifamily property is fully leased and finished with new appliances, granite countertops, kitchen islands, and tile flooring. The interior package provides a contemporary finish across the property while supporting immediate occupancy under the existing leases.

Located at 219 W Diamond Avenue in Alton, the property sits just off N Conway with access to nearby shopping and dining options. Its leased status, recent construction, and installed residential finishes provide a clearly defined income-property profile.

Key Highlights

• 4,200‑square‑foot multifamily property completed in 2024
• Fully leased at the time of listing
• New appliances included throughout the property

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$33,816

Cap Rate

7.21%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$676,320 $676.3K

Cap Rate 7%

$483,086 $483.1K

Cap Rate 9%

$375,733 $375.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,200 SF

Gross rent

$69.6K $16.56/SF

− Vacancy

−$8.1K −$1.92/SF

EGI

$61.5K $14.64/SF

− OpEx

−$27.7K −$6.59/SF

NOI

$33.8K $8.05/SF

Area

Hidalgo County, TX

Vacancy

11.60%

Lease Rate

$16.56 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$676,320

Cap Rate 7%

$483,086

Cap Rate 9%

$375,733

Alternative Uses

Best Use

Apartment 5plus

$483.1K

$422.7K – $563.6K (±1% cap)

NOI $33,816 @ 7.0% cap · market cap 7.21%

Second Best

—

—

no second resolved use

Theoretical Best

Hotel Hospitality

$3.16M

$2.77M – $3.69M (±1% cap)

NOI $221,445 @ 7.0% cap · market cap 47.22%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Multifamily properties

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Electrical Service Kitchen & Bath Showroom Garden Center Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

64

Businesses Nearby

Explore this area Business Placement

Demographics for 78573, TX

42,229

Population

13,339

Households

3.2

Avg Household Size

29

Median Age

15%

College-Educated

63%

High-School Grad

36.7 sq mi

ZIP Area

1,151

Density / Sq Mi

$51,185

Median Household Income

$27,730

Median Earnings

$909

Median Rent

$154,800

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Multifamily property - Fully leased property with new appliances, granite countertops, kitchen island, and tile flooring.

Where is this multifamily property located?

The property is located at 219 W Diamond Avenue Alton, TX.

What is the asking price?

The asking price for this property is $469,000.

What are key features of this property?

This property features: 4,200‑square‑foot multifamily property completed in 2024; Fully leased at the time of listing; New appliances included throughout the property