Fourplex with Covered
3505 Frio Drive McAllen, TX 78504
For Sale
$515,000
MULTI_FAMILY - McAllen, TX
Property Size4,236 SF
Lot Size0.25 Acres
Price / SF$121.58
Days on Market24
Property Features for 3505 Frio Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 8
- Parking features
- Garage
- Patio and Porch features
- Patio
- Fencing
- Privacy
- Appliances
- Electric Water Heater, Dryer, Refrigerator, Stove/Range, Washer
- Standard status
- Active
- APN
- S644300000000900
- Size
- 4,236 SF
- Lot size
- 0.25 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 9860
Utilities
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Electric
- Water source
- Public
Building Details
- Year built
- 2022
- Floors in Building
- 1
- Number of units
- 4
- Building materials
- Stucco
- Roof type
- Composition
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Jaime Lee Gonzalez
(956) 599-8400
Added: Jun 30
Last Checked: Jul 23 at 9:06PM
MLS# 481376
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 beautifully designed fourplex offers four separate units, each with three bedrooms and two bathrooms. Interiors include tile flooring, granite countertops, and primary suites with private bathrooms and spacious walk-in closets. Kitchens come equipped with stainless steel appliances in every unit, including a stove, refrigerator, microwave, washer, and dryer. The exterior features a stone-and-stucco finish, supported by a sprinkler system. Alley access connects to 8 covered parking spaces, with units arranged to support convenient day-to-day living.
The property is located in McAllen near 23rd Street, Bicentennial, and 10th Street, placing it within an established residential area. The combination of alley access and covered parking is designed to keep off-street vehicle use functional and straightforward for tenants.
For investors or owner-operators seeking a purpose-built rental with consistent unit layouts, this fourplex provides uniform 3-bedroom/2-bath configurations and a matching amenity package across all units. With covered parking, in-unit laundry, and durable finishes such as tile and granite, the home is set up for practical, tenant-friendly occupancy. The property includes a lot size of 0.2528 acres and a total size of 4,236 square feet.
The property is located in McAllen near 23rd Street, Bicentennial, and 10th Street, placing it within an established residential area. The combination of alley access and covered parking is designed to keep off-street vehicle use functional and straightforward for tenants.
For investors or owner-operators seeking a purpose-built rental with consistent unit layouts, this fourplex provides uniform 3-bedroom/2-bath configurations and a matching amenity package across all units. With covered parking, in-unit laundry, and durable finishes such as tile and granite, the home is set up for practical, tenant-friendly occupancy. The property includes a lot size of 0.2528 acres and a total size of 4,236 square feet.
Key Highlights
- Newer 4‑plex built in 2022
- Four units total—each unit features 3 bedrooms and 2 bathrooms
- Interiors include tile flooring and granite countertops
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 | $58.5k | $13.80 |
| − Vacancy | −$3.8k | −$0.89 |
| EGI | $54.7k | $12.91 |
| − OpEx | −$16.4k | −$3.87 |
| NOI | $38.3k | $9.04 |
4,236 SF · lease $13.80/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$546.8K
$478.5K – $637.9K
NOI $38,276 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$502.5K
$439.7K – $586.3K
NOI $35,176 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,518 @ 7.0% cap · market cap 15.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Well-appointed fourplex featuring four 3-bedroom, 2-bath units, stainless appliances, and alley access with covered parking.
Where is this quadplex located?
The property is located at 3505 Frio Drive 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: Newer 4‑plex built in 2022; Four units total—each unit features 3 bedrooms and 2 bathrooms; Interiors include tile flooring and granite countertops
