New Construction Multifamily
For Sale
Contact for pricing
219 W Diamond Avenue, Alton, TX 78573
Fully leased property with new appliances, granite countertops, kitchen island, and tile flooring.
Property Size4,200 SF
Price / SF$111.67
Days on Market105
Property Features for 219 W Diamond Avenue
General Information
Standard status
Active
Size
4,200 SF
Total Parking Spaces
8
Property subtype
Multifamily
Building Details
Year Built
2024
Buildings
2
Units
4
Listing Agency:
Star Realty Group, LLC
(956) 330-2507
Listed By:
Juan Lozano
Source:
Crexi
Added: May 19
Changed: Aug 30
Last Checked: Aug 30 at 2:15PM
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
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.
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 = 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
$33,816
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
7.21%
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%
$676,320
$676.3K
Cap Rate 7%
$483,086
$483.1K
Cap Rate 9%
$375,733
$375.7K
Market Conditions
NOI Build-Up for 4,200 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
$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 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%
$676,320
Cap Rate 7%
$483,086
Cap Rate 9%
$375,733
Alternative Uses
Best Use
Apartment 5plus
$483.1K
$422.7K – $563.6K
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
NOI $221,445 @ 7.0% cap · market cap 47.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
