16-Unit Apartment
For Sale
$1,440,000
2428 Upas Avenue McAllen, McAllen, TX 78501
Multifamily property with varied floor plans, covered parking, appliances, laundry facilities, and a designated dog area.
Property Size10,464 SF
Days on Market69
Property Features for 2428 Upas Avenue McAllen
General Information
Standard status
Active
Size
10,464 SF
Property subtype
Multi Family
Units
Unit Mix
10 x 1BR/1BA, 6 x 2BR/1BA
Multifamily Units
16
Taxes and HOA fees
Annual Taxes
$15,328
Amenities
covered carport parking
additional front parking
appliances included in every unit
on-site laundry facility
designated dog area
Building Details
Building Size
10,464 SF
Year Built
1980
Listing Agency:
RE/MAX elite
Listed By:
Yanett Rodriguez · License #695607
(956) 330-3674
Source:
Primeluxuryrealestate
Added: Aug 9
Changed: Oct 15
Last Checked: Oct 15 at 6:30AM
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 RE/MAX elite
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Investment Insights
Based on property information with market context.
Located at 2428 Upas Avenue in McAllen, this apartment complex contains 16 units arranged as 10 one-bedroom, one-bath residences and 6 two-bedroom, one-bath residences. The property was constructed in 1980 and provides a mix of unit sizes suited to varied household needs.
Resident amenities include covered carport spaces, additional parking at the front of the property, and appliances in each apartment. An on-site laundry facility and designated dog area add further functional features for residents. The combination of unit mix and shared amenities defines the property’s multifamily configuration.
Resident amenities include covered carport spaces, additional parking at the front of the property, and appliances in each apartment. An on-site laundry facility and designated dog area add further functional features for residents. The combination of unit mix and shared amenities defines the property’s multifamily configuration.
Key Highlights
- 16‑unit apartment complex built in 1980
- Unit mix includes 10 one‑bedroom, one‑bath units and 6 two‑bedroom, one‑bath units
- Covered carport parking plus additional front parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,894
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,737,880
$1.7M
Cap Rate 7%
$1,241,343
$1.2M
Cap Rate 9%
$965,489
$965.5K
Market Conditions
NOI Build-Up for 10,464 SF
Gross rent
$169.5K $16.20/SF
− Vacancy
−$11.5K −$1.10/SF
EGI
$158.0K $15.10/SF
− OpEx
−$71.1K −$6.79/SF
NOI
$86.9K $8.30/SF
Area
McAllen, TX
Vacancy
6.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,737,880
Cap Rate 7%
$1,241,343
Cap Rate 9%
$965,489
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $86,894 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.84M
$2.49M – $3.32M
NOI $198,900 @ 7.0% cap · market cap 13.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
676
Businesses Nearby
Explore this area
Business Placement
Demographics for 78501, TX
60,817
Population
24,807
Households
2.5
Avg Household Size
37
Median Age
27%
College-Educated
77%
High-School Grad
15.5 sq mi
ZIP Area
3,924
Density / Sq Mi
$49,451
Median Household Income
$29,092
Median Earnings
$943
Median Rent
$149,000
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 - Multifamily property with varied floor plans, covered parking, appliances, laundry facilities, and a designated dog area.
Where is this apartment building located?
The property is located at 2428 Upas Avenue McAllen McAllen, TX.
What is the asking price?
The asking price for this property is $1,440,000.
What are key features of this property?
This property features: 16‑unit apartment complex built in 1980; Unit mix includes 10 one‑bedroom, one‑bath units and 6 two‑bedroom, one‑bath units; Covered carport parking plus additional front parking
