22-Unit Apartment
For Sale
$1,750,000
303 Gastel Cir, Edinburg, TX 78539
Apartment property near UTRGV with a 2003 construction date and established multifamily configuration.
Property Size16,506 SF
Price / SF$106.02
Days on Market94
Property Features for 303 Gastel Cir
General Information
Standard status
Active
Size
16,506 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
22
Building Details
Year Built
2003
Listing Agency:
Keller Williams Realty RGV
Listed By:
Jaime Lee Gonzalez · License #713189
(956) 599-8400
Source:
Aregtx
Added: Aug 1
Changed: Oct 25
Last Checked: Oct 7 at 3:53PM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This apartment building contains 22 units within a 16,506-square-foot multifamily property constructed in 2003. The asset is identified as an apartment building and is offered for sale as a multifamily property.
Located at 303 Gastel Cir in Edinburg, Texas, the property is near UTRGV. Its unit count, building area, construction year, and proximity to the university provide the primary physical and locational reference points for evaluating the asset.
Located at 303 Gastel Cir in Edinburg, Texas, the property is near UTRGV. Its unit count, building area, construction year, and proximity to the university provide the primary physical and locational reference points for evaluating the asset.
Key Highlights
- 22‑unit apartment building
- 16,506‑square‑foot multifamily property
- Built in 2003
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$138,572
Cap Rate
7.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,771,440
$2.8M
Cap Rate 7%
$1,979,600
$2.0M
Cap Rate 9%
$1,539,689
$1.5M
Market Conditions
NOI Build-Up for 16,506 SF
Gross rent
$259.5K $15.72/SF
− Vacancy
−$7.5K −$0.46/SF
EGI
$251.9K $15.26/SF
− OpEx
−$113.4K −$6.87/SF
NOI
$138.6K $8.40/SF
Area
Edinburg, TX
Vacancy
2.90%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,771,440
Cap Rate 7%
$1,979,600
Cap Rate 9%
$1,539,689
Alternative Uses
Best Use
Apartment 5plus
$1.98M
$1.73M – $2.31M
NOI $138,572 @ 7.0% cap · market cap 7.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.28M
$3.75M – $5.00M
NOI $299,802 @ 7.0% cap · market cap 17.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
22
Residential units
Location Intelligence
Trade Area within ½ mile
847
Businesses Nearby
Explore this area
Business Placement
Demographics for 78539, TX
37,686
Population
15,759
Households
2.4
Avg Household Size
34
Median Age
37%
College-Educated
84%
High-School Grad
12.2 sq mi
ZIP Area
3,089
Density / Sq Mi
$64,864
Median Household Income
$38,413
Median Earnings
$1,034
Median Rent
$198,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Apartment property near UTRGV with a 2003 construction date and established multifamily configuration.
Where is this apartment building located?
The property is located at 303 Gastel Cir Edinburg, TX.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 22‑unit apartment building; 16,506‑square‑foot multifamily property; Built in 2003
