Four-Unit Apartment
New
For Sale
$425,000
2213 N Erica Street, Pharr, TX 78577
Four residences with long-term tenants are located within a gated community.
Property Size3,952 SF
Price / SF$107.54
Days on Market4
Property Features for 2213 N Erica Street
General Information
Standard status
Active
Size
3,952 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Parking per Unit
2
Additional Details
Gross Income
$31,200
Highway Access
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$6,840
Amenities
granite counters
tile flooring
custom cabinetry
laundry rooms
Ceiling Fan(s)
Decorative/High Ceilings
Microwave
Other
Walk-In Closet(s)
Mature Trees
Sprinkler System
Building Details
Building Size
3,952 SF
Year Built
2005
Buildings
2
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Israel Esquivel
(956) 655-5715
Source:
Gdvrealty
Added: Oct 22
Changed: Oct 23
Last Checked: Oct 23 at 3:57PM
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 eXp Realty LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2005, this 3,952-square-foot quadplex contains four 2-bedroom, 2-bathroom residences. Interior features include granite countertops, tile floors, custom cabinetry, and a laundry room in each unit. Each residence also has two covered parking spaces.
The property is in a gated community just off an expressway. Long-term tenants are in place across the four units.
The property is in a gated community just off an expressway. Long-term tenants are in place across the four units.
Key Highlights
- Four units, each with 2 bedrooms and 2 bathrooms
- 3,952 square feet; built in 2005
- Granite countertops, tile floors, and custom cabinetry in the units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,560
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$691,200
$691.2K
Cap Rate 7%
$493,714
$493.7K
Cap Rate 9%
$384,000
$384.0K
Market Conditions
NOI Build-Up for 3,952 SF
Gross rent
$55.5K $14.04/SF
− Vacancy
−$6.1K −$1.55/SF
EGI
$49.4K $12.49/SF
− OpEx
−$14.8K −$3.75/SF
NOI
$34.6K $8.74/SF
Area
Hidalgo County, TX
Vacancy
11.02%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$691,200
Cap Rate 7%
$493,714
Cap Rate 9%
$384,000
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 authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
582
Businesses Nearby
Explore this area
Business Placement
Demographics for 78577, TX
79,937
Population
26,568
Households
3
Avg Household Size
30
Median Age
18%
College-Educated
70%
High-School Grad
26.0 sq mi
ZIP Area
3,075
Density / Sq Mi
$49,768
Median Household Income
$28,186
Median Earnings
$988
Median Rent
$111,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residences with long-term tenants are located within a gated community.
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: Four units, each with 2 bedrooms and 2 bathrooms; 3,952 square feet; built in 2005; Granite countertops, tile floors, and custom cabinetry in the units
