8-Unit Apartment
2300 N 32nd Street McAllen, TX 78501
2300 N 32nd Street, McAllen, TX, 78501
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For Sale
Contact for pricing
8-unit multifamily property with eight 2-bedroom, 1-bath units, offered for sale.
Property Size5,400 SF
Price / SF$116.67
Days on Market80
Property Features for 2300 N 32nd Street
General Information
- Standard status
- Active
- Size
- 5,400 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1982
Listing agency
Keller Williams Realty RGV
(956) 566-8377
Listed by
Julian Ayala
Source
Crexi
Added: May 5 Updated: Jul 21 at 9:06PM Checked: Jul 21 at 9:06PM
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 Keller Williams Realty RGV
Investment Insights
Based on property information with market context.
This 8-unit apartment building is configured with eight spacious units, each offering 2 bedrooms and 1 bathroom. The property is described as having some light updates and improvements, supporting an income-focused ownership opportunity.
Located in McAllen, the building is positioned near major roads and within convenient reach of schools, shopping, and dining.
With all units contained within a single property, the asset provides a straightforward 8-plex layout for prospective buyers looking to own multiple residences under one roof.
Located in McAllen, the building is positioned near major roads and within convenient reach of schools, shopping, and dining.
With all units contained within a single property, the asset provides a straightforward 8-plex layout for prospective buyers looking to own multiple residences under one roof.
Key Highlights
- 8‑plex multifamily built in 1982, offered for sale in McAllen
- Eight units total, each with 2 bedrooms and 1 bathroom
- Property available for buyers looking to expand or start a multifamily portfolio
Local Financial Insights For Apartment 5plus
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 | $87.5k | $16.20 |
| − Vacancy | −$5.9k | −$1.10 |
| EGI | $81.5k | $15.10 |
| − OpEx | −$36.7k | −$6.79 |
| NOI | $44.8k | $8.30 |
5,400 SF · lease $16.20/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$640.6K
$560.5K – $747.4K
NOI $44,842 @ 7.0% cap · market cap 7.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,643 @ 7.0% cap · market cap 16.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - 8-unit multifamily property with eight 2-bedroom, 1-bath units, offered for sale.
Where is this apartment building located?
The property is located at 2300 N 32nd Street McAllen, TX.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: 8‑plex multifamily built in 1982, offered for sale in McAllen; Eight units total, each with 2 bedrooms and 1 bathroom; Property available for buyers looking to expand or start a multifamily portfolio
