Edinburg Multifamily Investment
2616 Fern Avenue Edinburg, TX 78541
2616 Fern Avenue, Edinburg, TX, 78541
$750,000
For Sale
$750,000
MULTI_FAMILY - Edinburg, TX
Property Size3,966 SF
Lot Size0.33 Acres
Price / SF$189.11
Days on Market169
Property Features for 2616 Fern Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 10
- Parking features
- Garage
- Exterior features
- Sprinkler System
- Appliances
- Electric Water Heater, Electric Cooktop, Dryer, Microwave, Refrigerator, Washer
- Standard status
- Active
- APN
- M256000000003700
- Size
- 3,966 SF
- Lot size
- 0.33 Acres
Taxes and HOA fees
- Tax Year
- 2022
- Tax Annual Amount
- 2175
Utilities
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Electric
Building Details
- Year built
- 2023
- Floors in Building
- 1
- Number of units
- 8
- Building materials
- Stucco
- Roof type
- Composition
Listing Agency
BIG Realty
(956) 465-0011
4847 S Jackson Rd., Pharr, TX
Listed by
Victor Fuentes
(956) 432-1351
Added: Jan 30 Checked: Jul 18 at 12:06 am
MLS# 458150
Listing URL
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.
Investment Insights
Based on property information with market context.
This multifamily complex is located in Edinburg, TX. The property has a size of 3966 square feet and is situated on a 0.3306-acre lot. Each unit features an open floor plan and modern amenities, including LED lighting, granite or quartz countertops, and appliances. The units also include spacious bedrooms and stylish bathrooms. The property is located approximately 5 minutes from UTRGV, with convenient access to major thoroughfares. It is also near retailers, restaurants, and the interstate. The property is intended for use as a multi-family complex.
Key Highlights
- New multi‑family complex built in 2023 in Edinburg, TX
- Approx. 8% cap rate, per public remarks
- Open floor plan in every unit with LED lighting and granite/quartz counters
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 | $62.3k | $15.72 |
| − Vacancy | −$1.8k | −$0.46 |
| EGI | $60.5k | $15.26 |
| − OpEx | −$27.2k | −$6.87 |
| NOI | $33.3k | $8.40 |
3,966 SF · lease $15.72/SF/yr · vacancy 2.90% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$475.7K
$416.2K – $554.9K
NOI $33,296 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$900.4K – $1.20M
NOI $72,035 @ 7.0% cap · market cap 9.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - New Edinburg multifamily complex near UTRGV with modern features.
Where is this apartment building located?
The property is located at 2616 Fern Avenue Edinburg, TX.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: New multi‑family complex built in 2023 in Edinburg, TX; Approx. 8% cap rate, per public remarks; Open floor plan in every unit with LED lighting and granite/quartz counters
