4-Unit Multifamily
New
For Sale
$410,000
2511 E Garfield Avenue, Mission, TX 78573
All residences are leased within a gated community near shopping, dining, schools, and major roadways.
Property Size4,000 SF
Price / SF$102.50
Days on Market5
Property Features for 2511 E Garfield Avenue
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$11,778
Amenities
gated community
Listing Agency:
OAKK REAL ESTATE LLC
Listed By:
Karina Martinez
(956) 562-4736
Source:
Exprealty
Added: Oct 9
Changed: Oct 13
Last Checked: Oct 13 at 2:24AM
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 OAKK REAL ESTATE LLC
Investment Insights
Based on property information with market context.
This four-unit multifamily property is fully occupied, with all four residences currently rented. The property is situated within a gated community, and advance notice is requested for showings; tenants should not be disturbed.
Shopping, dining, schools, and major roadways are identified among the nearby conveniences. The property offers a four-unit configuration with existing tenancy.
Shopping, dining, schools, and major roadways are identified among the nearby conveniences. The property offers a four-unit configuration with existing tenancy.
Key Highlights
- Four residential units, all currently rented
- Located within a gated community
- Near shopping, dining, schools, and major roadways
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,980
Cap Rate
8.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$699,600
$699.6K
Cap Rate 7%
$499,714
$499.7K
Cap Rate 9%
$388,667
$388.7K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$56.2K $14.04/SF
− Vacancy
−$6.2K −$1.55/SF
EGI
$50.0K $12.49/SF
− OpEx
−$15.0K −$3.75/SF
NOI
$35.0K $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%
$699,600
Cap Rate 7%
$499,714
Cap Rate 9%
$388,667
Alternative Uses
Best Use
Multifamily LT 5
$499.7K
$437.3K – $583.0K
NOI $34,980 @ 7.0% cap · market cap 8.53%
Second Best
Apartment 5plus
$460.1K
$402.6K – $536.8K
NOI $32,206 @ 7.0% cap · market cap 7.86%
Theoretical Best
Hotel Hospitality
$3.01M
$2.64M – $3.52M
NOI $210,900 @ 7.0% cap · market cap 51.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
187
Businesses Nearby
Explore this area
Business Placement
Demographics for 78573, TX
42,229
Population
13,339
Households
3.2
Avg Household Size
29
Median Age
15%
College-Educated
63%
High-School Grad
36.7 sq mi
ZIP Area
1,151
Density / Sq Mi
$51,185
Median Household Income
$27,730
Median Earnings
$909
Median Rent
$154,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - All residences are leased within a gated community near shopping, dining, schools, and major roadways.
Where is this quadplex located?
The property is located at 2511 E Garfield Avenue Mission, TX.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Four residential units, all currently rented; Located within a gated community; Near shopping, dining, schools, and major roadways
