8-Unit Brick Apartment
For Sale
$850,000
2402 Tahiti Drive, Edinburg, TX 78541
Residential Income, Edinburg, TX
Property Size7,848 SF
Lot Size0.69 Acres
Price / SF$108.31
Days on Market140
Property Features for 2402 Tahiti Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
16
Parking features
None
Patio and Porch features
Patio
Appliances
Electric Water Heater, Dryer, Refrigerator, Stove/Range, Washer
Subdivision
Paradise Estates
Lot features
Curb & Gutters
Elementary school
Cavazos
Middle school
B.L. Garza
High school
Edinburg North H.S.
Elementary school district
Edinburg ISD
Middle school district
Edinburg ISD
High school district
Edinburg ISD
Directions
From Intersection of Russell Rd and McColl go East to Aruba Dr; South on Aruba Dr to Tahiti Dr; East to property
Standard status
Active
APN
P323500000001700
Size
7,848 SF
Lot size
0.69 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
16452
HOA Fee
$315 Annually
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
2004
Floors in Building
1
Number of units
8
Building materials
Brick
Roof type
Shingle
Listing Agency:
BIG Realty
(956) 465-0011
Listed By:
Irving N. Kim
(956) 520-4573
Added: Jun 10
Changed: Oct 26
Last Checked: Oct 27 at 4:06PM
MLS# 506737
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.
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Investment Insights
Based on property information with market context.
This 8-unit multifamily property contains 7,848 square feet on a 0.6905-acre parcel and was built in 2004. Brick construction, shingle roofing, central electric heating, and central air conditioning provide a durable, conventional building profile. Each unit is supported by a practical appliance package including a refrigerator, stove/range, washer, dryer, and electric water heater, with patios included as an exterior feature.
The property is situated at the end of a quiet cul-de-sac in Edinburg, offering a lower-traffic residential setting. Local shopping, schools, and major commuter highways are located minutes away. Public water service supports the property, while the site includes low-maintenance landscaping and an established multifamily configuration.
The property is situated at the end of a quiet cul-de-sac in Edinburg, offering a lower-traffic residential setting. Local shopping, schools, and major commuter highways are located minutes away. Public water service supports the property, while the site includes low-maintenance landscaping and an established multifamily configuration.
Key Highlights
- 8‑unit multifamily property totaling 7,848 square feet
- Situated on 0.6905 acres at the end of a quiet cul‑de‑sac
- Built in 2004 with brick construction and a shingle roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,886
Cap Rate
7.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,317,720
$1.3M
Cap Rate 7%
$941,229
$941.2K
Cap Rate 9%
$732,067
$732.1K
Market Conditions
NOI Build-Up for 7,848 SF
Gross rent
$123.4K $15.72/SF
− Vacancy
−$3.6K −$0.46/SF
EGI
$119.8K $15.26/SF
− OpEx
−$53.9K −$6.87/SF
NOI
$65.9K $8.40/SF
Area
Edinburg, TX
Vacancy
2.90%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,317,720
Cap Rate 7%
$941,229
Cap Rate 9%
$732,067
Alternative Uses
Best Use
Apartment 5plus
$941.2K
$823.6K – $1.10M
NOI $65,886 @ 7.0% cap · market cap 7.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.04M
$1.78M – $2.38M
NOI $142,545 @ 7.0% cap · market cap 16.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
Explore this area
Business Placement
Demographics for 78541, TX
48,513
Population
17,669
Households
2.7
Avg Household Size
28
Median Age
25%
College-Educated
77%
High-School Grad
290.2 sq mi
ZIP Area
167
Density / Sq Mi
$50,567
Median Household Income
$30,752
Median Earnings
$945
Median Rent
$142,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained multifamily property with individual patios, central systems, and a residential cul-de-sac setting.
Where is this apartment building located?
The property is located at 2402 Tahiti Drive Edinburg, TX.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 8‑unit multifamily property totaling 7,848 square feet; Situated on 0.6905 acres at the end of a quiet cul‑de‑sac; Built in 2004 with brick construction and a shingle roof
