Five-Unit Apartment
For Sale
$399,000
2701 El Barquito Drive, Palmview, TX 78572
Residential Income, Palmview, TX
Property Size3,000 SF
Lot Size0.73 Acres
Price / SF$133
Days on Market150
Property Features for 2701 El Barquito Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
None
Fencing
Barbed Wire
Appliances
Electric Water Heater, Water Heater (Other), Refrigerator, Stove/Range
Subdivision
El Barquito
Lot features
Corner Lot
Elementary school
Flores
Middle school
Chavez
High school
La Joya H.S.
Elementary school district
La Joya ISD
Middle school district
La Joya ISD
High school district
La Joya ISD
Directions
FROM EXP 83 HEAD SOUTH ON ABRAMS RD, UNTIL CORNER WITH EL BARQUITO ST. TURN RIGHT, HOUSE ON CORNER ON LEFT.
Standard status
Active
APN
E348000000003400
Size
3,000 SF
Lot size
0.73 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
7409
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
AC mini splits
security cameras
Building Details
Year built
2005
Floors in Building
1
Number of units
5
Building materials
Brick
Roof type
Composition
Listing Agency:
Alliance Real Estate Group
(956) 340-4633
Listed By:
Francisco G. Pacheco
(956) 309-2422
Added: Apr 18
Changed: Sep 5
Last Checked: Sep 14 at 4:06AM
MLS# 491334
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 3,000-square-foot apartment property contains five units: two studio layouts, two one-bedroom residences, and one two-bedroom residence. The units include full bathrooms, and the property was built in 2005 with brick construction, a composition roof, central heating, and central air. Appliances include refrigerators, stoves/ranges, and electric water heaters. Eight security cameras convey with the sale.
Set on 0.7316 acres at the corner of El Barquito Drive and Abrams Road in Palmview, the property is near H-E-B, food establishments, and other services, with quick access to Expressway 83. Water and trash collection are included in the rent, while each unit has its own electric meter for tenant-paid electricity. The property carries a 7.5% cap rate and has barbed-wire fencing and no designated parking.
Set on 0.7316 acres at the corner of El Barquito Drive and Abrams Road in Palmview, the property is near H-E-B, food establishments, and other services, with quick access to Expressway 83. Water and trash collection are included in the rent, while each unit has its own electric meter for tenant-paid electricity. The property carries a 7.5% cap rate and has barbed-wire fencing and no designated parking.
Key Highlights
- Five‑unit configuration with 2 studios, 2 one‑bedroom units, and 1 two‑bedroom unit
- 3,000 square feet on 0.7316 acres
- Corner location at El Barquito Drive and Abrams Road in Palmview
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,154
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
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Current Use
Lease Details
5
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
87
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Corner-lot multifamily property with a varied unit mix, individual electric meters, and convenient access to local services and major routes.
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‑unit configuration with 2 studios, 2 one‑bedroom units, and 1 two‑bedroom unit; 3,000 square feet on 0.7316 acres; Corner location at El Barquito Drive and Abrams Road in Palmview
