Modern Triplex with Separate
2208 Galveston Ave McAllen, TX 78501
New
For Sale
$455,000
Newly built 2023 triplex with three leased units, each with three bedrooms, two baths, and separate utility metering.
Property Size3,024 SF
Price / SF$150.46
Days on Market4
Property Features for 2208 Galveston Ave
General Information
- Standard status
- Active
- Size
- 3,024 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 2023
Listing Agency:
BIG Realty
Listed By:
Jose L. Aguilar
Source:
Aregtx
Added: Jul 20
Changed: Jul 21
Last Checked: Jul 23 at 5:21AM
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 BIG Realty
Investment Insights
Based on property information with market context.
Built in 2023, this modern triplex features three identical residential units. Each unit includes three bedrooms and two bathrooms with about 1,008 square feet of living space, along with modern interior finishes such as quartz counters in the kitchen and baths, tiled backsplash, tiled shower walls, ceiling fans, and tiled flooring. The units are equipped with appliances including a refrigerator, stove, and microwave, and each has its own separate utility meters.
Parking is available at both the front and rear of the property, with convenient alley access for vehicles.
All three units are currently leased, providing immediate rental income.
Parking is available at both the front and rear of the property, with convenient alley access for vehicles.
All three units are currently leased, providing immediate rental income.
Key Highlights
- Newly built 2023 triplex with 3 identical units and separate utility metering
- Each unit offers 3 bedrooms, 2 bathrooms, and 1,008 sf of living space (3,024 sf total)
- All 3 units are leased at $1,300 per month ($3,900 total)
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.7k | $13.80 |
| − Vacancy | −$2.7k | −$0.89 |
| EGI | $39.0k | $12.91 |
| − OpEx | −$11.7k | −$3.87 |
| NOI | $27.3k | $9.04 |
3,024 SF · lease $13.80/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$390.4K
$341.6K – $455.4K
NOI $27,325 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$358.7K
$313.9K – $418.5K
NOI $25,112 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$821.1K
$718.5K – $958.0K
NOI $57,480 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Newly built 2023 triplex with three leased units, each with three bedrooms, two baths, and separate utility metering.
Where is this triplex located?
The property is located at 2208 Galveston Ave McAllen, TX.
What is the asking price?
The asking price for this property is $455,000.
What are key features of this property?
This property features: Newly built 2023 triplex with 3 identical units and separate utility metering; Each unit offers 3 bedrooms, 2 bathrooms, and 1,008 sf of living space (3,024 sf total); All 3 units are leased at $1,300 per month ($3,900 total)
