Four-Unit Multifamily Property with New
For Sale
Contact for pricing
3115 E Diamondhead Avenue, Mission, TX 78573
Fully occupied property with renovated interiors, refreshed exteriors, and updated operating equipment.
Property Size3,640 SF
Price / SF$105.77
Days on Market13
Property Features for 3115 E Diamondhead Avenue
General Information
Standard status
Active
Size
3,640 SF
Total Parking Spaces
8
Property subtype
Multifamily
Occupancy
100%
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Additional Details
Gross Income
$40,800
Building Details
Year Built
2007
Buildings
2
Units
4
Tenancy
Multi
Listing Agency:
eXp Realty, LLC
(888) 519-7431
Listed By:
Nacole Ricks
Source:
Crexi
Added: Jul 24
Changed: Aug 4
Last Checked: Aug 4 at 1:52AM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This 3,640-square-foot quadplex contains four two-bedroom, two-bath residences and was built in 2007. All units are currently occupied. Recent improvements include a new roof, complete exterior repainting, security cameras, exterior lighting, cleaned A/C condenser units and dryer vents, and new thermostats. Unit D has been fully renovated, while Units B and D include new washers and dryers.
The property is located at 3115 E Diamondhead Avenue in Mission, Texas, within walking distance of Jensen Elementary. The surrounding street includes newer multifamily properties, providing a residential income property setting with established nearby multifamily development.
The property is located at 3115 E Diamondhead Avenue in Mission, Texas, within walking distance of Jensen Elementary. The surrounding street includes newer multifamily properties, providing a residential income property setting with established nearby multifamily development.
Key Highlights
- Four 2‑bedroom, 2‑bath units totaling 3,640 SF
- Fully occupied quadplex built in 2007
- Brand‑new roof and complete exterior repaint
Financial Insights For Multifamily LT 5
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 | $51.1k | $14.04 |
| − Vacancy | −$5.6k | −$1.55 |
| EGI | $45.5k | $12.49 |
| − OpEx | −$13.6k | −$3.75 |
| NOI | $31.8k | $8.74 |
3,640 SF · lease $14.04/SF/yr · vacancy 11.02% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$454.7K
$397.9K – $530.5K
NOI $31,832 @ 7.0% cap · market cap 8.27%
Second Best
Apartment 5plus
$418.7K
$366.3K – $488.5K
NOI $29,307 @ 7.0% cap · market cap 7.61%
Theoretical Best
Hotel Hospitality
$2.74M
$2.40M – $3.20M
NOI $191,919 @ 7.0% cap · market cap 49.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
Explore this area
Business Placement
Demographics for 78573, TX
42,229
Population
13,339
Households
3.2
Avg Household Size
29
Median Age
15%
College-Educated
63%
High-School Grad
36.7 sq mi
ZIP Area
1,151
Density / Sq Mi
$51,185
Median Household Income
$27,730
Median Earnings
$909
Median Rent
$154,800
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 - Fully occupied property with renovated interiors, refreshed exteriors, and updated operating equipment.
Where is this quadplex located?
The property is located at 3115 E Diamondhead Avenue Mission, TX.
What is the asking price?
The asking price for this property is $384,999.
What are key features of this property?
This property features: Four 2‑bedroom, 2‑bath units totaling 3,640 SF; Fully occupied quadplex built in 2007; Brand‑new roof and complete exterior repaint
