4-Unit Quadplex with Open-Concept
For Sale
$600,000
3005 S K Center St, McAllen, TX 78503
Quadplex with four three-bedroom, three-bath units and open-concept layouts built in 2016.
Property Size5,502 SF
Price / SF$109.05
Days on Market52
Property Features for 3005 S K Center St
General Information
Standard status
Active
Size
5,502 SF
Property subtype
Multi-Family
Building Details
Year Built
2016
Listing Agency:
Keller Williams Realty RGV
Listed By:
Jaime Lee Gonzalez · License #713189
(956) 566-8377
Source:
Aregtx
Added: Jul 29
Changed: Sep 8
Last Checked: Sep 15 at 10:50PM
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 four-unit quadplex offers an open-concept layout in each home, with three bedrooms and three bathrooms per unit. The property totals 5,502 SF and was built in 2016, providing a newer residential income asset with consistent unit configuration.
The property is located at 3005 S K Center St in McAllen, placing it near La Plaza Mall along with shopping and major conveniences. The proximity to retail and everyday services can support tenant appeal in a multi-family setting.
With four separate units, this quadplex is set up for buyers seeking a small, manageable multifamily investment where each unit maintains the same three-bedroom, three-bath open layout.
The property is located at 3005 S K Center St in McAllen, placing it near La Plaza Mall along with shopping and major conveniences. The proximity to retail and everyday services can support tenant appeal in a multi-family setting.
With four separate units, this quadplex is set up for buyers seeking a small, manageable multifamily investment where each unit maintains the same three-bedroom, three-bath open layout.
Key Highlights
- Four‑unit quadplex with open‑concept layouts
- Each unit features three bedrooms and three bathrooms
- 5,502 SF total building area
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
$49,716
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
8.29%
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%
$994,320
$994.3K
Cap Rate 7%
$710,229
$710.2K
Cap Rate 9%
$552,400
$552.4K
Market Conditions
NOI Build-Up for 5,502 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
$75.9K $13.80/SF
− Vacancy
−$4.9K −$0.89/SF
EGI
$71.0K $12.91/SF
− OpEx
−$21.3K −$3.87/SF
NOI
$49.7K $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 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%
$994,320
Cap Rate 7%
$710,229
Cap Rate 9%
$552,400
Alternative Uses
Best Use
Multifamily LT 5
$710.2K
$621.5K – $828.6K
NOI $49,716 @ 7.0% cap · market cap 8.29%
Second Best
Apartment 5plus
$652.7K
$571.1K – $761.5K
NOI $45,689 @ 7.0% cap · market cap 7.61%
Theoretical Best
Office A
$1.49M
$1.31M – $1.74M
NOI $104,582 @ 7.0% cap · market cap 17.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Quadplex with four three-bedroom, three-bath units and open-concept layouts built in 2016.
Where is this quadplex located?
The property is located at 3005 S K Center 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: Four‑unit quadplex with open‑concept layouts; Each unit features three bedrooms and three bathrooms; 5,502 SF total building area
