Four-Unit Residential Income
For Sale
$600,000
3004 L St, McAllen, TX 78503
Four-unit residential property offers 3-bedroom, 3-bath units with open-concept layouts.
Property Size5,480 SF
Price / SF$109.49
Days on Market99
Property Features for 3004 L St
General Information
Standard status
Active
Size
5,480 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Building Details
Year Built
2014
Listing Agency:
Keller Williams Realty RGV
Listed By:
Jaime Lee Gonzalez · License #713189
(956) 599-8400
Source:
Aregtx
Added: Jul 16
Changed: Oct 4
Last Checked: Oct 7 at 5:43PM
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
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Investment Insights
Based on property information with market context.
This four-unit residential income property features four separate units, each offering a 3-bedroom, 3-bath configuration with an open-concept layout.
The property is located near La Plaza Mall, shopping, and major conveniences, supporting everyday tenant access to nearby goods and services.
Offered for sale as a multi-family investment opportunity, the building’s unit mix is consistent across all four units, providing a straightforward structure for an operator or investor to manage.
The property is located near La Plaza Mall, shopping, and major conveniences, supporting everyday tenant access to nearby goods and services.
Offered for sale as a multi-family investment opportunity, the building’s unit mix is consistent across all four units, providing a straightforward structure for an operator or investor to manage.
Key Highlights
- 2014‑built 4‑unit multi‑family property
- Each unit offers 3 bedrooms and 3 bathrooms
- Open‑concept layout in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,517
Cap Rate
8.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$990,340
$990.3K
Cap Rate 7%
$707,386
$707.4K
Cap Rate 9%
$550,189
$550.2K
Market Conditions
NOI Build-Up for 5,480 SF
Gross rent
$75.6K $13.80/SF
− Vacancy
−$4.9K −$0.89/SF
EGI
$70.7K $12.91/SF
− OpEx
−$21.2K −$3.87/SF
NOI
$49.5K $9.04/SF
Area
McAllen, TX
Vacancy
6.46%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$990,340
Cap Rate 7%
$707,386
Cap Rate 9%
$550,189
Alternative Uses
Best Use
Multifamily LT 5
$707.4K
$619.0K – $825.3K
NOI $49,517 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$650.1K
$568.8K – $758.5K
NOI $45,507 @ 7.0% cap · market cap 7.58%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,164 @ 7.0% cap · market cap 17.36%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
204
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential property offers 3-bedroom, 3-bath units with open-concept layouts.
Where is this quadplex located?
The property is located at 3004 L St McAllen, TX.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 2014‑built 4‑unit multi‑family property; Each unit offers 3 bedrooms and 3 bathrooms; Open‑concept layout in each unit
