12-Unit Apartment
3000 E Coby Drive Mission, TX 78574
For Sale
Contact for pricing
For sale: a 12-unit apartment complex comprised of two six-unit buildings on a corner lot.
Property Size8,391 SF
Lot Size1.00 Acre
Price / SF$116.20
Days on Market79
Property Features for 3000 E Coby Drive
General Information
- Standard status
- Active
- Size
- 8,391 SF
- Lot size
- 1.00 Acre
- Property subtype
- Multifamily
Building Details
- Year Built
- 2003
Listing Agency:
Dolce Vita Realty
(956) 784-2427
Listed By:
Olga Arriaga
Source:
Crexi
Added: May 7
Changed: Jul 23
Last Checked: Jul 23 at 11:54AM
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 Dolce Vita Realty
Investment Insights
Based on property information with market context.
This 12-unit apartment complex is offered for sale and consists of two separate six-unit buildings. The property is sited on a spacious corner lot and is presented as well-maintained.
Located at 3000 E Coby Drive in Mission, Texas, the complex is positioned on the corner of La Homa Rd and Coby Dr.
The configuration provides a clear two-building layout within a single multifamily asset, suitable for investors seeking a small, manageable apartment portfolio.
Located at 3000 E Coby Drive in Mission, Texas, the complex is positioned on the corner of La Homa Rd and Coby Dr.
The configuration provides a clear two-building layout within a single multifamily asset, suitable for investors seeking a small, manageable apartment portfolio.
Key Highlights
- 12‑unit apartment complex with two separate six‑unit buildings
- Built in 2003
- Located on a 1‑acre corner lot on La Homa Rd and Coby Dr
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 | $139.0k | $16.56 |
| − Vacancy | −$16.1k | −$1.92 |
| EGI | $122.8k | $14.64 |
| − OpEx | −$55.3k | −$6.59 |
| NOI | $67.6k | $8.05 |
8,391 SF · lease $16.56/SF/yr · vacancy 11.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$965.1K
$844.5K – $1.13M
NOI $67,560 @ 7.0% cap · market cap 6.93%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$6.32M
$5.53M – $7.37M
NOI $442,415 @ 7.0% cap · market cap 45.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - For sale: a 12-unit apartment complex comprised of two six-unit buildings on a corner lot.
Where is this apartment building located?
The property is located at 3000 E Coby Drive Mission, TX.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 12‑unit apartment complex with two separate six‑unit buildings; Built in 2003; Located on a 1‑acre corner lot on La Homa Rd and Coby Dr
