Fourplex with Covered
2805 E Garfield Avenue, Alton, TX 78573
For Sale
$420,000
All four residences are leased, with three-bedroom, two-bathroom layouts and in-unit washers and dryers.
Property Size4,440 SF
Price / SF$94.59
Days on Market12
Property Features for 2805 E Garfield Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
covered parking
full appliance package
Ceiling Fan(s)
Decorative/High Ceilings
Dryer
Split Bedrooms
Walk-In Closet(s)
Washer
Building Details
Building Size
Year Built
Buildings
Stories
Units
Tenancy
Listing Agency:
RE/MAX Integrity
(281) 370-5100
Listed By:
Carlos Cordova · License #696567
(956) 655-4381
Source:
Justrealty
Added: Oct 26
Changed: Nov 6
Last Checked: Nov 6 at 1:18PM
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 RE/MAX Integrity
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2018, this fourplex contains 4,440 square feet across four three-bedroom, two-bathroom residences. Each unit has an open living area, tile flooring, granite countertops, and a full appliance package that includes a washer and dryer. Covered parking serves the property.
The building is located at 2805 E Garfield Avenue in Alton and is within Sharyland ISD. All four units are currently leased.
The building is located at 2805 E Garfield Avenue in Alton and is within Sharyland ISD. All four units are currently leased.
Key Highlights
- Four units, each with three bedrooms and two bathrooms
- 4,440 square feet; built in 2018
- All four units currently leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,749
Cap Rate
8.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$714,980
$715.0K
Cap Rate 7%
$510,700
$510.7K
Cap Rate 9%
$397,211
$397.2K
Market Conditions
NOI Build-Up for 4,440 SF
Gross rent
$73.5K $16.56/SF
− Vacancy
−$8.5K −$1.92/SF
EGI
$65.0K $14.64/SF
− OpEx
−$29.2K −$6.59/SF
NOI
$35.7K $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%
$714,980
Cap Rate 7%
$510,700
Cap Rate 9%
$397,211
Alternative Uses
Best Use
Multifamily LT 5
$554.7K
$485.4K – $647.1K
NOI $38,828 @ 7.0% cap · market cap 9.24%
Second Best
Apartment 5plus
$510.7K
$446.9K – $595.8K
NOI $35,749 @ 7.0% cap · market cap 8.51%
Theoretical Best
Hotel Hospitality
$3.34M
$2.93M – $3.90M
NOI $234,099 @ 7.0% cap · market cap 55.74%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
822
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
$154,800
Median Home Value
Market
Average Price Trend$/SF for Quadplexes in Alton, TX
Properties on Market for Quadplexes in Alton
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - All four residences are leased, with three-bedroom, two-bathroom layouts and in-unit washers and dryers.
Where is this quadplex located?
The property is located at 2805 E Garfield Avenue Alton, TX.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Four units, each with three bedrooms and two bathrooms; 4,440 square feet; built in 2018; All four units currently leased
