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Mission, TX Multifamily Investment

3115 E Diamondhead Avenue Mission, TX 78573

3115 E Diamondhead Avenue, Mission, TX, 78573

$370,000

For Sale

$370,000

MULTI_FAMILY - Mission, TX

Property Size3,640 SF

Lot Size0.22 Acres

Price / SF$101.65

AddedFeb 26

Days on Market138

Last RefreshJul 14 at 4:06 pm

Property Features for 3115 E Diamondhead Avenue

General Information

Property type: Residential Multi Family
Property subtype: Other
Parking: 8
Parking features: Garage
Exterior features: Mature Trees
Fencing: Privacy
Appliances: Electric Water Heater, Dryer, Stove/Range, Washer
Standard status: Active
APN: E443500000002400
Size: 3,640 SF
Lot size: 0.22 Acres

Taxes and HOA fees

Tax Year: 2024
Tax Annual Amount: 7026

Utilities

Heating system: Central, Electric (Heating)
Cooling system: Central Air, Electric
Water source: Public

Building Details

Year built: 2007
Floors in Building: 1
Number of units: 4
Building materials: Brick
Roof type: Shingle

Listing agent Nacole Ricks

Listing office eXp Realty LLC 9600 Great Hills Trail #150w, Austin, TX

Listing date Feb 26, 2026

MLS# 479768 Listing URL

Copyright © 2026 Greater McAllen Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This multifamily property, located within walking distance of Jensen Elementary, presents a solid investment opportunity with potential for income growth. The property features four units, each containing two bedrooms and two bathrooms. The property is currently 100% occupied with long-term tenants who have been in place for 5-8 years. There is potential for rent increases to $950-$975 per month, totaling $3,600 - $3,850 per month. Over $42,000 has been invested in the property. Improvements include a roof repair in 2023, new paint and repairs for the entire four-plex in 2023, and new exterior paint in 2024. The AC exterior units have been cleaned in 2023, and the dryer exhaust roof vents have been cleaned. New exterior lights and cameras have been installed, adding value for tenants. New thermostats have been installed in Apartments B and D, along with new washers and dryers in Apartments B and D. Apartment D has been fully rehabbed. The property is situated on a street lined with other four-plexes, some as new as 2015, indicating strong demand and profitability. The property size is 3,640 square feet and the lot size is 0.2194 acres.

Key Highlights

2007‑built 4‑plex with 4 units, each a 2 bed / 2 bath layout
100% occupied with long‑term tenants in place for 5–8 years
Recent improvements: repaired roof (2023), new paint and repairs for the entire 4‑plex (2023), and new exterior paint (2024)

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

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 (±1% cap)

NOI $31,832 @ 7.0% cap · market cap 8.60%

Second Best

Apartment 5plus

$418.7K

$366.3K – $488.5K (±1% cap)

NOI $29,307 @ 7.0% cap · market cap 7.92%

Theoretical Best

Hotel Hospitality

$2.74M

$2.40M – $3.20M (±1% cap)

NOI $191,919 @ 7.0% cap · market cap 51.87%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

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For sale
Quadplexes
TX
Mission
78573
3115 E Diamondhead Avenue

What type of property is this?

Quadplex - Four-unit property with income potential in a desirable location.

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 $370,000.

What are key features of this property?

This property features: 2007‑built 4‑plex with 4 units, each a 2 bed / 2 bath layout; 100% occupied with long‑term tenants in place for 5–8 years; Recent improvements: repaired roof (2023), new paint and repairs for the entire 4‑plex (2023), and new exterior paint (2024)

3115 E Diamondhead Avenue Mission, TX 78573

MULTI_FAMILY - Mission, TX

Property Features for 3115 E Diamondhead Avenue

General Information

Taxes and HOA fees

Utilities

Building Details

Investment Insights

Key Highlights

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

Alternative Uses

Property Analytics

Current Use by Public Records

Suggested Use

Similar For Sale Nearby

Car Wash and Quick Lube Facility

Mission, TX Commercial Opportunity

Medical Office Building with Parking

Convenience Store with Drive-Through

Restaurant-Ready Drive-Through Property

Commercial Property on Half Acre

Freestanding Retail with Warehouse

Multifamily Apartment Building

Nine-Unit Apartment Building

Four-Bay Mechanic Shop Building

Four-Unit Residential Income Property

Commercial Condo Units Portfolio

FAQs