5-Unit Apartment
2701 El Barquito Drive, Palmview, TX 78572
For Sale
New
$399,000
The apartment mix includes studios and one- and two-bedroom units, each with a mini-split AC system.
Property Size3,000 SF
Lot Size0.75 Acres
Price / SF$133
Days on Market1
Property Features for 2701 El Barquito Drive
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Highway Access
Road Access
Utilities to Site
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Cap Rate
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
security cameras
mini-split AC units
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Alliance Real Estate Group
(956) 340-4633
Listed By:
Francisco G. Pacheco
(956) 309-2422
Source:
Culturare
Added: Nov 6
Last Checked: Nov 6 at 2:28PM
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 Alliance Real Estate Group
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Investment Insights
Based on property information with market context.
This 5-unit apartment property contains 3,000 square feet across two studio units, two one-bedroom units, and one two-bedroom unit. Each apartment has one full bathroom and its own mini-split AC system. The building dates to 2005, and the sale includes eight security cameras. Each unit has a separate electric meter; water and trash collection are included in rent, while residents pay for electricity.
The property occupies a 0.75-acre corner parcel at Abrams Road and El Barquito Drive in Palmview. It is near Expressway 83, H-E-B, and food establishments. The lot is described as having room for one additional building.
The property occupies a 0.75-acre corner parcel at Abrams Road and El Barquito Drive in Palmview. It is near Expressway 83, H-E-B, and food establishments. The lot is described as having room for one additional building.
Key Highlights
- Five apartments: two studios, two 1‑bedroom units, and one 2‑bedroom unit
- 3,000 square feet on a 0.75‑acre corner lot
- One full bathroom and a mini‑split AC system in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,154
Cap Rate
6.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$483,080
$483.1K
Cap Rate 7%
$345,057
$345.1K
Cap Rate 9%
$268,378
$268.4K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$49.7K $16.56/SF
− Vacancy
−$5.8K −$1.92/SF
EGI
$43.9K $14.64/SF
− OpEx
−$19.8K −$6.59/SF
NOI
$24.2K $8.05/SF
Area
Hidalgo County, TX
Vacancy
11.60%
Lease Rate
$16.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$483,080
Cap Rate 7%
$345,057
Cap Rate 9%
$268,378
Alternative Uses
Best Use
Apartment 5plus
$345.1K
$301.9K – $402.6K
NOI $24,154 @ 7.0% cap · market cap 6.05%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$2.26M
$1.98M – $2.64M
NOI $158,175 @ 7.0% cap · market cap 39.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
76
Businesses Nearby
Explore this area
Business Placement
Demographics for 78572, TX
78,280
Population
32,696
Households
2.4
Avg Household Size
36
Median Age
25%
College-Educated
75%
High-School Grad
53.7 sq mi
ZIP Area
1,458
Density / Sq Mi
$54,029
Median Household Income
$30,004
Median Earnings
$900
Median Rent
$121,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Hidalgo County, TX
Properties on Market for Apartment buildings in Hidalgo County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - The apartment mix includes studios and one- and two-bedroom units, each with a mini-split AC system.
Where is this apartment building located?
The property is located at 2701 El Barquito Drive Palmview, TX.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Five apartments: two studios, two 1‑bedroom units, and one 2‑bedroom unit; 3,000 square feet on a 0.75‑acre corner lot; One full bathroom and a mini‑split AC system in each unit
