Multifamily Apartment
For Sale
$795,000
2911 and 2913 N Veterans Boulevard, San Juan, TX 78589
Two-building multifamily property offers 12 apartments with dedicated parking spaces for each unit.
Property Size7,467 SF
Days on Market52
Property Features for 2911 and 2913 N Veterans Boulevard
General Information
Standard status
Active
Size
7,467 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$14,171
Building Details
Building Size
7,467 SF
Year Built
1980
Listing Agency:
Keller Williams Realty RGV
Listed By:
Jaime Lee Gonzalez · License #713189
(956) 566-8377
Source:
Primeluxuryrealestate
Added: Jul 18
Changed: Aug 14
Last Checked: Sep 6 at 11:06AM
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 Keller Williams Realty RGV
Investment Insights
Based on property information with market context.
This multifamily property consists of two addresses and includes 12 apartments. The unit mix features five two-bedroom, one-bath apartments and seven one-bedroom, one-bath apartments. Each apartment is described as having two dedicated parking spaces.
The property is centrally located in San Juan, Texas, and is presented as an investment opportunity.
Offered for sale, the buildings provide a straightforward rental configuration with apartment sizes spanning one- and two-bedroom layouts and parking included with each unit as described in the listing remarks.
The property is centrally located in San Juan, Texas, and is presented as an investment opportunity.
Offered for sale, the buildings provide a straightforward rental configuration with apartment sizes spanning one- and two-bedroom layouts and parking included with each unit as described in the listing remarks.
Key Highlights
- Multifamily property built in 1980 with two buildings totaling 12 apartments
- Unit mix includes 5 two‑bedroom, one‑bath apartments and 7 one‑bedroom, one‑bath apartments
- Each apartment includes two dedicated parking spaces
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
$60,120
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
7.56%
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%
$1,202,400
$1.2M
Cap Rate 7%
$858,857
$858.9K
Cap Rate 9%
$668,000
$668.0K
Market Conditions
NOI Build-Up for 7,467 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
$123.7K $16.56/SF
− Vacancy
−$14.3K −$1.92/SF
EGI
$109.3K $14.64/SF
− OpEx
−$49.2K −$6.59/SF
NOI
$60.1K $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%
$1,202,400
Cap Rate 7%
$858,857
Cap Rate 9%
$668,000
Alternative Uses
Best Use
Apartment 5plus
$858.9K
$751.5K – $1.00M
NOI $60,120 @ 7.0% cap · market cap 7.56%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$5.62M
$4.92M – $6.56M
NOI $393,698 @ 7.0% cap · market cap 49.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
371
Businesses Nearby
Explore this area
Business Placement
Demographics for 78589, TX
38,987
Population
12,393
Households
3.1
Avg Household Size
32
Median Age
13%
College-Educated
62%
High-School Grad
25.5 sq mi
ZIP Area
1,529
Density / Sq Mi
$51,662
Median Household Income
$27,679
Median Earnings
$926
Median Rent
$112,400
Median Home Value
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 - Two-building multifamily property offers 12 apartments with dedicated parking spaces for each unit.
Where is this apartment building located?
The property is located at 2911 and 2913 N Veterans Boulevard San Juan, TX.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Multifamily property built in 1980 with two buildings totaling 12 apartments; Unit mix includes 5 two‑bedroom, one‑bath apartments and 7 one‑bedroom, one‑bath apartments; Each apartment includes two dedicated parking spaces
