Turnkey Fully Leased
3618 Gloria Ave McAllen, TX 78503
New
For Sale
$244,000
Fully leased multifamily property with multiple income-generating units and 100% occupancy.
Property Size2,414 SF
Price / SF$101.08
Days on Market4
Property Features for 3618 Gloria Ave
General Information
- Standard status
- Active
- Size
- 2,414 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1980
Listing Agency:
SANETI Realty Group
(956) 520-2333
Listed By:
Alberto Sanchez Vega
Source:
Aregtx
Added: Jul 20
Changed: Jul 21
Last Checked: Jul 23 at 5:22AM
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 SANETI Realty Group
Investment Insights
Based on property information with market context.
This turnkey multifamily property is offered for sale with multiple income-generating units and 100% occupancy. The asset is fully leased, providing immediate rental income from day one and a consistent base of stabilized tenant occupancy.
The property is located at 3618 Gloria Ave in McAllen, Texas. With its current fully leased status, it presents a straightforward option for buyers looking to add an income-producing multifamily asset to their portfolio.
Based on the provided information, the property is sized at 2,414 (property size) and is presented as a fully leased, income-generating investment with multiple units.
The property is located at 3618 Gloria Ave in McAllen, Texas. With its current fully leased status, it presents a straightforward option for buyers looking to add an income-producing multifamily asset to their portfolio.
Based on the provided information, the property is sized at 2,414 (property size) and is presented as a fully leased, income-generating investment with multiple units.
Key Highlights
- Year built: 1980
- Fully leased multifamily property with multiple income‑generating units
- 100% occupancy (fully occupied)
Financial Insights For Apartment 5plus
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 | $39.1k | $16.20 |
| − Vacancy | −$2.7k | −$1.10 |
| EGI | $36.4k | $15.10 |
| − OpEx | −$16.4k | −$6.79 |
| NOI | $20.0k | $8.30 |
2,414 SF · lease $16.20/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$286.4K
$250.6K – $334.1K
NOI $20,046 @ 7.0% cap · market cap 8.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$655.5K
$573.6K – $764.8K
NOI $45,885 @ 7.0% cap · market cap 18.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Multifamily properties
FAQs
What type of property is this?
Multifamily property - Fully leased multifamily property with multiple income-generating units and 100% occupancy.
Where is this multifamily property located?
The property is located at 3618 Gloria Ave McAllen, TX.
What is the asking price?
The asking price for this property is $244,000.
What are key features of this property?
This property features: Year built: 1980; Fully leased multifamily property with multiple income‑generating units; 100% occupancy (fully occupied)
