Income-Producing Multifamily
2703 Garfield Mission, TX 78572
2703 Garfield, Mission, TX, 78572
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For Sale
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Income-producing multifamily property for sale in Mission, TX, described as near schools, shopping, restaurants, and major roadways.
Property Size4,088 SF
Price / SF$117.42
Days on Market13
Property Features for 2703 Garfield
General Information
- Standard status
- Active
- Size
- 4,088 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2017
Listing Agency
Modern Living Realty
Listed by
Maria Garza · License #TX
Source
Crexi
Added: Jul 5 Checked: Jul 13 at 3:04 am
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 Modern Living Realty
Investment Insights
Based on property information with market context.
This income-producing multifamily apartment building is being offered for sale at 2703 Garfield in Mission, Texas. The property is listed at $480,000 and has a reported size of 4,088. The seller’s remarks characterize the building as a steady cash-flow asset suited for long-term investment portfolios.
According to the public remarks, the property’s convenience is a key part of the offering, with proximity to schools, shopping, restaurants, and major roadways. For buyers and brokers, the next step is to schedule a private showing to review the current condition and confirm income details directly with the seller.
According to the public remarks, the property’s convenience is a key part of the offering, with proximity to schools, shopping, restaurants, and major roadways. For buyers and brokers, the next step is to schedule a private showing to review the current condition and confirm income details directly with the seller.
Key Highlights
- Income‑producing multifamily property in Mission, TX
- Year built: 2017
- Described as conveniently located near schools, shopping, restaurants, and major roadways
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 | $67.7k | $16.56 |
| − Vacancy | −$7.9k | −$1.92 |
| EGI | $59.8k | $14.64 |
| − OpEx | −$26.9k | −$6.59 |
| NOI | $32.9k | $8.05 |
4,088 SF · lease $16.56/SF/yr · vacancy 11.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$470.2K
$411.4K – $548.6K
NOI $32,914 @ 7.0% cap · market cap 6.86%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$3.08M
$2.69M – $3.59M
NOI $215,540 @ 7.0% cap · market cap 44.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Income-producing multifamily property for sale in Mission, TX, described as near schools, shopping, restaurants, and major roadways.
Where is this apartment building located?
The property is located at 2703 Garfield Mission, TX.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Income‑producing multifamily property in Mission, TX; Year built: 2017; Described as conveniently located near schools, shopping, restaurants, and major roadways
