Fourplex with Private
New
For Sale
$515,000
3500 Frio Avenue, McAllen, TX 78504
Each residence has two bedrooms, two baths, in-unit laundry, and covered parking.
Property Size3,504 SF
Price / SF$146.97
Days on Market7
Property Features for 3500 Frio Avenue
General Information
Standard status
Active
Size
3,504 SF
Total Parking Spaces
8
Property subtype
Multi Family Home
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Parking per Unit
2
Additional Details
Gross Income
$58,800
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$9,321
Amenities
in-unit washer and dryer
private backyard
Ceiling Fan(s)
Decorative/High Ceilings
Microwave
Split Bedrooms
Walk-In Closet(s)
Sprinkler System
Building Details
Building Size
3,504 SF
Year Built
2025
Buildings
2
Stories
1
Units
10
Listing Agency:
Cameron Real Estate
Listed By:
Maria Martinez · License #3168912
(956) 688-9051
Source:
Gdvrealty
Added: Oct 19
Changed: Oct 23
Last Checked: Oct 23 at 2:02PM
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 2025, this fourplex contains four residences totaling approximately 3,504 square feet. Each unit offers a two-bedroom, two-bath layout with an open living plan, vaulted ceilings, tile flooring, quartz counters, contemporary cabinetry, and stainless steel appliances. In-unit washers and dryers, walk-in closets, and private backyards are also included, along with two covered parking spaces per residence.
The property is in McAllen, near UTRGV, shopping, dining, and major roadways. Two units are leased for long-term occupancy, while the other two operate as Airbnbs.
The property is in McAllen, near UTRGV, shopping, dining, and major roadways. Two units are leased for long-term occupancy, while the other two operate as Airbnbs.
Key Highlights
- Four units, each with 2 bedrooms and 2 baths
- Approximately 3,504 square feet; built in 2025
- Two covered parking spaces per 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.
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Lease Details
4
Residential units
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence has two bedrooms, two baths, in-unit laundry, and covered parking.
Where is this quadplex located?
The property is located at 3500 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 units, each with 2 bedrooms and 2 baths; Approximately 3,504 square feet; built in 2025; Two covered parking spaces per unit
