Turnkey Fully Leased
For Sale
$244,000
3618 Gloria Ave, McAllen, TX 78503
Fully leased multifamily property with multiple income-generating units and 100% occupancy.
Property Size2,414 SF
Price / SF$101.08
Days on Market95
Property Features for 3618 Gloria Ave
General Information
Standard status
Active
Size
2,414 SF
Property subtype
Multi-Family
Occupancy
100%
Building Details
Year Built
1980
Listing Agency:
SANETI Realty Group
Listed By:
Alberto Sanchez Vega · License #801067546
(956) 520-2333
Source:
Aregtx
Added: Jul 20
Changed: Oct 3
Last Checked: Oct 21 at 12:50AM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$20,046
Cap Rate
8.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$400,920
$400.9K
Cap Rate 7%
$286,371
$286.4K
Cap Rate 9%
$222,733
$222.7K
Market Conditions
NOI Build-Up for 2,414 SF
Gross rent
$39.1K $16.20/SF
− Vacancy
−$2.7K −$1.10/SF
EGI
$36.4K $15.10/SF
− OpEx
−$16.4K −$6.79/SF
NOI
$20.0K $8.30/SF
Area
McAllen, TX
Vacancy
6.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$400,920
Cap Rate 7%
$286,371
Cap Rate 9%
$222,733
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 authorities.
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Open Analytics
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
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Business Placement
Demographics for 78503, TX
23,604
Population
8,090
Households
2.9
Avg Household Size
35
Median Age
25%
College-Educated
71%
High-School Grad
19.2 sq mi
ZIP Area
1,229
Density / Sq Mi
$48,765
Median Household Income
$27,514
Median Earnings
$1,087
Median Rent
$130,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
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)
