14-Unit Apartment
New
For Sale
$1,590,000
3001 Ashley Place, Pharr, TX 78577
Every residence has two bedrooms and two full bathrooms.
Property Size16,080 SF
Days on Market6
Property Features for 3001 Ashley Place
General Information
Standard status
Active
Size
16,080 SF
Property subtype
Multi Family
Units
Unit Mix
14 x 2BR/2BA
Multifamily Units
14
Additional Details
Average Monthly Rent
$985
Taxes and HOA fees
Annual Taxes
$36,589
Building Details
Building Size
16,080 SF
Year Built
1996
Listing Agency:
RE/MAX elite
Listed By:
Yanett Rodriguez · License #695607
(956) 330-3674
Source:
Primeluxuryrealestate
Added: Oct 2
Changed: Oct 3
Last Checked: Oct 5 at 11:18PM
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 elite
Investment Insights
Based on property information with market context.
This 14-unit apartment property was built in 1996. All units have a two-bedroom, two-bathroom layout, creating a consistent configuration across the building.
One unit is vacant. The property is located in Pharr, Texas.
One unit is vacant. The property is located in Pharr, Texas.
Key Highlights
- 14 apartment units
- Each unit has 2 bedrooms and 2 full bathrooms
- Built in 1996
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$129,468
Cap Rate
8.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,589,360
$2.6M
Cap Rate 7%
$1,849,543
$1.8M
Cap Rate 9%
$1,438,533
$1.4M
Market Conditions
NOI Build-Up for 16,080 SF
Gross rent
$266.3K $16.56/SF
− Vacancy
−$30.9K −$1.92/SF
EGI
$235.4K $14.64/SF
− OpEx
−$105.9K −$6.59/SF
NOI
$129.5K $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%
$2,589,360
Cap Rate 7%
$1,849,543
Cap Rate 9%
$1,438,533
Alternative Uses
Best Use
Apartment 5plus
$1.85M
$1.62M – $2.16M
NOI $129,468 @ 7.0% cap · market cap 8.14%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$12.11M
$10.60M – $14.13M
NOI $847,818 @ 7.0% cap · market cap 53.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
14
Residential units
Location Intelligence
Trade Area within ½ mile
149
Businesses Nearby
Explore this area
Business Placement
Demographics for 78577, TX
79,937
Population
26,568
Households
3
Avg Household Size
30
Median Age
18%
College-Educated
70%
High-School Grad
26.0 sq mi
ZIP Area
3,075
Density / Sq Mi
$49,768
Median Household Income
$28,186
Median Earnings
$988
Median Rent
$111,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Every residence has two bedrooms and two full bathrooms.
Where is this apartment building located?
The property is located at 3001 Ashley Place Pharr, TX.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: 14 apartment units; Each unit has 2 bedrooms and 2 full bathrooms; Built in 1996
