8-Unit Apartment
New
For Sale
$1,550,000
3512 Vanessa Lane, Weslaco, TX 78596
Residential Income, Weslaco, TX
Property Size10,800 SF
Lot Size0.33 Acres
Price / SF$143.52
Days on Market3
Property Features for 3512 Vanessa Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
16
Parking features
None
Appliances
Electric Water Heater, Dryer, Refrigerator, Stove/Range, Washer
Subdivision
The Coves
Lot features
Sidewalks
Elementary school
Gonzalez
Middle school
Mary Hoge
High school
Weslaco East H.S.
Elementary school district
Weslaco ISD
Middle school district
Weslaco ISD
High school district
Weslaco ISD
Directions
north on 1015, take a right on pike, take a right on cove lane
Standard status
Active
APN
T302500000003A01 (+multiple GEO IDS)
Size
10,800 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
38183
HOA Fee
$250 Annually
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
patio backyard spaces
all appliances included
Building Details
Year built
2024
Floors in Building
2
Number of units
8
Building materials
Stucco
Roof type
Shingle
Listing Agency:
Keller Williams Realty RGV
(956) 928-1155
Listed By:
Jaime Lee Gonzalez · License #713189
(956) 599-8400
Added: Oct 8
Last Checked: Oct 10 at 2:06PM
MLS# 517321
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.
Built in 2024, this eight-unit apartment property contains 10,800 square feet on a 0.3273-acre parcel. Each residence has three bedrooms, two full bathrooms, and one half bathroom, for a property total of 24 bedrooms, 16 full bathrooms, and 8 half bathrooms. Patio and backyard areas serve the units, and appliances include a refrigerator, stove/range, washer, and dryer. The building has stucco exterior construction, a shingle roof, central heating and central air conditioning, and public water service.
The property is at 3512 Vanessa Lane in Weslaco, Texas, with access to the expressway, local shops, restaurants, and everyday services.
The property is at 3512 Vanessa Lane in Weslaco, Texas, with access to the expressway, local shops, restaurants, and everyday services.
Key Highlights
- Eight residences, each with 3 bedrooms, 2 full bathrooms, and 1 half bathroom
- 10,800 square feet on a 0.3273‑acre parcel
- Built in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,956
Cap Rate
5.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,739,120
$1.7M
Cap Rate 7%
$1,242,229
$1.2M
Cap Rate 9%
$966,178
$966.2K
Market Conditions
NOI Build-Up for 10,800 SF
Gross rent
$178.8K $16.56/SF
− Vacancy
−$20.7K −$1.92/SF
EGI
$158.1K $14.64/SF
− OpEx
−$71.1K −$6.59/SF
NOI
$87.0K $8.05/SF
Area
Hidalgo County, TX
Vacancy
11.60%
Lease Rate
$16.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,739,120
Cap Rate 7%
$1,242,229
Cap Rate 9%
$966,178
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $86,956 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$8.13M
$7.12M – $9.49M
NOI $569,430 @ 7.0% cap · market cap 36.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
Explore this area
Business Placement
Demographics for 78596, TX
37,329
Population
15,824
Households
2.4
Avg Household Size
36
Median Age
21%
College-Educated
75%
High-School Grad
40.1 sq mi
ZIP Area
931
Density / Sq Mi
$53,797
Median Household Income
$31,618
Median Earnings
$917
Median Rent
$92,800
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?
Apartment building - Individual residences include patio and backyard areas, along with a full set of household appliances.
Where is this apartment building located?
The property is located at 3512 Vanessa Lane Weslaco, TX.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Eight residences, each with 3 bedrooms, 2 full bathrooms, and 1 half bathroom; 10,800 square feet on a 0.3273‑acre parcel; Built in 2024
