4-Unit Quadplex with Covered
New
For Sale
$515,000
3406 Frio Avenue, McAllen, TX 78504
All residences are occupied and offer in-unit laundry and backyard space.
Property Size3,504 SF
Price / SF$146.97
Days on Market4
Property Features for 3406 Frio Avenue
General Information
Standard status
Active
Size
3,504 SF
Total Parking Spaces
8
Property subtype
Multi Family Home
Occupancy
100%
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Parking per Unit
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$9,321
Amenities
Ceiling Fan(s)
Decorative/High Ceilings
Split Bedrooms
Walk-In Closet(s)
Sprinkler System
Building Details
Building Size
3,504 SF
Year Built
2024
Buildings
2
Stories
1
Units
10
Listing Agency:
Cameron Real Estate
Listed By:
Maria Martinez · License #3168912
(956) 688-9051
Source:
Gdvrealty
Added: Oct 22
Changed: Oct 23
Last Checked: Oct 23 at 3:46PM
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 Cameron Real Estate
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Investment Insights
Based on property information with market context.
Built in 2024, this 3,504-square-foot quadplex contains four residences, each with two bedrooms and two bathrooms. Interior features include open living areas, vaulted ceilings, tile flooring, and contemporary lighting. Kitchens are equipped with quartz countertops, cabinetry, a refrigerator, and a range. Each unit also has its own washer and dryer and a backyard.
Two covered parking spaces are assigned to each residence. The property is located in McAllen, Texas, and all four units are currently occupied.
Two covered parking spaces are assigned to each residence. The property is located in McAllen, Texas, and all four units are currently occupied.
Key Highlights
- Four 2‑bedroom, 2‑bath units in a 3,504‑square‑foot building
- Built in 2024; all four units are occupied
- Two covered parking spaces for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,662
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$633,240
$633.2K
Cap Rate 7%
$452,314
$452.3K
Cap Rate 9%
$351,800
$351.8K
Market Conditions
NOI Build-Up for 3,504 SF
Gross rent
$48.4K $13.80/SF
− Vacancy
−$3.1K −$0.89/SF
EGI
$45.2K $12.91/SF
− OpEx
−$13.6K −$3.87/SF
NOI
$31.7K $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 Rate 5%
$633,240
Cap Rate 7%
$452,314
Cap Rate 9%
$351,800
Alternative Uses
Best Use
Multifamily LT 5
$452.3K
$395.8K – $527.7K
NOI $31,662 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$415.7K
$363.7K – $485.0K
NOI $29,098 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$951.5K
$832.6K – $1.11M
NOI $66,604 @ 7.0% cap · market cap 12.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
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Business Placement
Demographics for 78504, TX
56,830
Population
21,417
Households
2.7
Avg Household Size
35
Median Age
40%
College-Educated
86%
High-School Grad
19.6 sq mi
ZIP Area
2,899
Density / Sq Mi
$77,627
Median Household Income
$41,632
Median Earnings
$1,178
Median Rent
$203,900
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 - All residences are occupied and offer in-unit laundry and backyard space.
Where is this quadplex located?
The property is located at 3406 Frio Avenue McAllen, TX.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Four 2‑bedroom, 2‑bath units in a 3,504‑square‑foot building; Built in 2024; all four units are occupied; Two covered parking spaces for each unit
