Triplex with Separate
For Sale
$295,000
2820 Wichita Ave, McAllen, TX 78503
Main residence paired with two rental apartments, offering a three-unit configuration near everyday services.
Property Size3,034 SF
Price / SF$97.23
Days on Market47
Property Features for 2820 Wichita Ave
General Information
Standard status
Active
Size
3,034 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA, 1 x 2BR/2BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Building Details
Year Built
1975
Buildings
2
Listing Agency:
Coldwell Banker La Mansion
Listed By:
Jessica Moreno Castellanos · License #801068682
Source:
Aregtx
Added: Sep 6
Changed: Oct 12
Last Checked: Oct 7 at 3:46PM
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 Coldwell Banker La Mansion
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Investment Insights
Based on property information with market context.
This 3,034-square-foot triplex, built in 1975, combines a primary residence with two separate apartments. The main home includes three bedrooms, two bathrooms, and a den. A detached two-story addition contains the remaining units: a one-bedroom, one-bath apartment on the first floor and a two-bedroom, two-bath apartment above.
The property is positioned near an expressway, shopping, restaurants, hospitals, and other everyday amenities. Its configuration supports a live-in arrangement with rental units or use as a three-unit residential income property, consistent with the property's triplex classification.
The property is positioned near an expressway, shopping, restaurants, hospitals, and other everyday amenities. Its configuration supports a live-in arrangement with rental units or use as a three-unit residential income property, consistent with the property's triplex classification.
Key Highlights
- 3,034‑square‑foot triplex built in 1975
- Main home includes 3 bedrooms, 2 baths, and a den
- Separate two‑story addition contains 2 apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,195
Cap Rate
8.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$503,900
$503.9K
Cap Rate 7%
$359,929
$359.9K
Cap Rate 9%
$279,944
$279.9K
Market Conditions
NOI Build-Up for 3,034 SF
Gross rent
$49.2K $16.20/SF
− Vacancy
−$3.3K −$1.10/SF
EGI
$45.8K $15.10/SF
− OpEx
−$20.6K −$6.79/SF
NOI
$25.2K $8.30/SF
Area
McAllen, TX
Vacancy
6.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$503,900
Cap Rate 7%
$359,929
Cap Rate 9%
$279,944
Alternative Uses
Best Use
Multifamily LT 5
$391.6K
$342.7K – $456.9K
NOI $27,415 @ 7.0% cap · market cap 9.29%
Second Best
Apartment 5plus
$359.9K
$314.9K – $419.9K
NOI $25,195 @ 7.0% cap · market cap 8.54%
Theoretical Best
Office A
$823.9K
$720.9K – $961.2K
NOI $57,670 @ 7.0% cap · market cap 19.55%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
296
Businesses Nearby
Explore this area
Business Placement
Demographics for 78503, TX
23,604
Population
8,090
Households
2.9
Avg Household Size
35
Median Age
25%
College-Educated
71%
High-School Grad
19.2 sq mi
ZIP Area
1,229
Density / Sq Mi
$48,765
Median Household Income
$27,514
Median Earnings
$1,087
Median Rent
$130,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Main residence paired with two rental apartments, offering a three-unit configuration near everyday services.
Where is this triplex located?
The property is located at 2820 Wichita Ave McAllen, TX.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 3,034‑square‑foot triplex built in 1975; Main home includes 3 bedrooms, 2 baths, and a den; Separate two‑story addition contains 2 apartments
