12-Unit Apartment
For Sale
$975,000
3000 E Coby Drive, Mission, TX 78574
MULTI_FAMILY - Mission, TX
Property Size8,391 SF
Lot Size1.01 Acres
Price / SF$116.20
Days on Market92
Property Features for 3000 E Coby Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Other
Exterior features
Mature Trees
Fencing
Privacy, Chain Link
Appliances
Electric Water Heater, Water Heater (Other Location), Electric Cooktop, Refrigerator
Subdivision
Kenwood Estates
Lot features
Corner Lot, Mature Trees
Elementary school
Diaz-Villarreal
Middle school
Trevino
High school
Juarez-Lincoln H.S.
Elementary school district
Mission ISD
Middle school district
Mission ISD
High school district
Mission ISD
Directions
Heading West on 7 Mile Line in Mission . Head South on La Homa Road. Take a left (go east) on Coby Drive, Property is on left side.
Standard status
Active
APN
K275002000003600
Size
8,391 SF
Lot size
1.01 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
11871
Utilities
Heating system
Heat Pump (Heating), Electric (Heating), Central
Cooling system
Electric, Heat Pump, Central Air
Water source
Public
Building Details
Year built
2003
Floors in Building
1
Number of units
12
Building materials
Block, Stucco
Roof type
Composition
Listing Agency:
Dolce Vita Realty
(956) 322-8478
Listed By:
Olga L Arriaga
(956) 827-5025
Added: May 6
Changed: Aug 4
Last Checked: Aug 5 at 10:06PM
MLS# 502132
Copyright © 2026 Greater McAllen Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 12-unit apartment complex is built as two well-maintained six-unit buildings on a 1.013-acre corner lot at 3000 E Coby Drive in Mission, TX. The property has a total size of 8,391 square feet and was built in 2003. Exterior features include mature trees, and the construction is block with stucco.
The building is served by public water. Heating includes heat pump (heating), central heating, and electric heating, and cooling includes heat pump, central air, and electric cooling. The roof is composition. On-site fencing includes privacy and chain link fencing.
For a multifamily buyer or tenant seeking a small, fixed-unit apartment configuration, this property’s two-building layout and central electric HVAC systems are core, practical attributes to review.
The building is served by public water. Heating includes heat pump (heating), central heating, and electric heating, and cooling includes heat pump, central air, and electric cooling. The roof is composition. On-site fencing includes privacy and chain link fencing.
For a multifamily buyer or tenant seeking a small, fixed-unit apartment configuration, this property’s two-building layout and central electric HVAC systems are core, practical attributes to review.
Key Highlights
- 12 units across two well‑maintained six‑unit buildings
- 1.013‑acre corner lot at 3000 E Coby Drive
- Built in 2003 with block and stucco construction
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
118
Businesses Nearby
Explore this area
Business Placement
Demographics for 78574, TX
63,627
Population
18,309
Households
3.5
Avg Household Size
28
Median Age
16%
College-Educated
58%
High-School Grad
51.9 sq mi
ZIP Area
1,226
Density / Sq Mi
$52,536
Median Household Income
$28,029
Median Earnings
$807
Median Rent
$119,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - 12-unit apartment complex on a corner lot with two six-unit buildings and central electric HVAC.
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 units across two well‑maintained six‑unit buildings; 1.013‑acre corner lot at 3000 E Coby Drive; Built in 2003 with block and stucco construction
