Profitable 4-Plex in Gated
2213 N Erica Street Pharr, TX 78577
2213 N Erica Street, Pharr, TX, 78577
$425,000
For Sale
$425,000
MULTI_FAMILY - Pharr, TX
Property Size3,952 SF
Lot Size0.21 Acres
Price / SF$107.54
Days on Market248
Property Features for 2213 N Erica Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 2
- Parking features
- Garage
- Exterior features
- Mature Trees, Sprinkler System
- Fencing
- Privacy
- Appliances
- Electric Water Heater, Dishwasher, Dryer, Microwave, Oven-Microwave, Refrigerator, Stove/Range, Stove/Range-Electric Coil, Washer
- Standard status
- Active
- APN
- V012500000002900
- Size
- 3,952 SF
- Lot size
- 0.21 Acres
Taxes and HOA fees
- Tax Year
- 2018
- Tax Annual Amount
- 6840
Utilities
- Heating system
- Electric (Heating), Zoned
- Cooling system
- Electric, Zoned
- Water source
- Public
Building Details
- Year built
- 2005
- Floors in Building
- 1
- Number of units
- 4
- Building materials
- Brick
- Roof type
- Shingle
Listing Agency
eXp Realty LLC
(888) 519-7431
9600 Great Hills Trail #150w, Austin, TX
Listed by
Israel Esquivel
(956) 655-5715
Added: Nov 11, 2025 Checked: Jul 17 at 2:06 am
MLS# 486350
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.
Investment Insights
Based on property information with market context.
This multifamily property, located just off the expressway in a secure gated community in Pharr, Texas, features four spacious units. Each unit includes 2 bedrooms and 2 bathrooms, granite counters, tile flooring, custom cabinetry, and laundry rooms. The property also offers two covered parking spaces per unit. The property generates a steady yearly gross income of $31,200+ with dependable, long-term tenants. The property size is 3,952 square feet on a lot of 0.2124 acres. This property is intended as an investment property.
Key Highlights
- 2005‑built brick 4‑plex in a secure gated community
- Four 2‑bed, 2‑bath units, each with laundry room and two covered parking spaces
- Units include granite counters, tile flooring, and custom cabinetry
Local 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 | $55.5k | $14.04 |
| − Vacancy | −$6.1k | −$1.55 |
| EGI | $49.4k | $12.49 |
| − OpEx | −$14.8k | −$3.75 |
| NOI | $34.6k | $8.74 |
3,952 SF · lease $14.04/SF/yr · vacancy 11.02% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$493.7K
$432.0K – $576.0K
NOI $34,560 @ 7.0% cap · market cap 8.13%
Second Best
Apartment 5plus
$454.6K
$397.7K – $530.3K
NOI $31,819 @ 7.0% cap · market cap 7.49%
Theoretical Best
Hotel Hospitality
$2.98M
$2.60M – $3.47M
NOI $208,369 @ 7.0% cap · market cap 49.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - Cash-flowing 4-unit property with long-term tenants in Pharr, TX.
Where is this quadplex located?
The property is located at 2213 N Erica Street Pharr, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 2005‑built brick 4‑plex in a secure gated community; Four 2‑bed, 2‑bath units, each with laundry room and two covered parking spaces; Units include granite counters, tile flooring, and custom cabinetry
