New 4-Plex with Private
New
For Sale
$1,070,000
3638-3841 N Mezcal Drive, Pharr, TX 78577
Newly built 4-plex is fully leased and each unit includes a private patio and three-bedroom, two-bath layout.
Property Size4,250 SF
Days on Market6
Property Features for 3638-3841 N Mezcal Drive
General Information
Standard status
Active
Size
4,250 SF
Property subtype
Multi Family
Occupancy
100%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Opportunity Zone
Yes
Amenities
large private patios
walk-in closets
custom floor-to-ceiling wood cabinetry
luxury lighting
stainless steel appliances
Building Details
Building Size
4,250 SF
Year Built
2025
Buildings
1
Tenancy
Multi
Listing Agency:
Texas Landmark Realty LLC
(956) 492-5638
Listed By:
Irene Uribe Manrique de Lara
Source:
Primeluxuryrealestate
Added: Jul 30
Changed: Jul 31
Last Checked: Aug 3 at 11:28AM
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 Texas Landmark Realty LLC
Investment Insights
Based on property information with market context.
New 4-plex (quadplex) built in 2025 at 3638–3841 N Mezcal Drive, Pharr, TX 78577. The property consists of four spacious units, each laid out as three bedrooms and two bathrooms and featuring walk-in closets. Interiors include custom floor-to-ceiling wood cabinetry, luxury lighting, and stainless steel appliances included, while every unit also offers a large private patio.
The building is positioned next to Wilson Park and is located within Pharr ETJ in Hidalgo County. The property is described as being in an IRS-designated Opportunity Zone, which may offer potential tax advantages. One unit is available for showings.
Operating costs are described as low, with NAWS and MVECO utilities serving the property. With all units stated as fully leased, this is positioned as a cash-flowing rental asset geared toward tenants who value private outdoor space and convenient local access.
The building is positioned next to Wilson Park and is located within Pharr ETJ in Hidalgo County. The property is described as being in an IRS-designated Opportunity Zone, which may offer potential tax advantages. One unit is available for showings.
Operating costs are described as low, with NAWS and MVECO utilities serving the property. With all units stated as fully leased, this is positioned as a cash-flowing rental asset geared toward tenants who value private outdoor space and convenient local access.
Key Highlights
- Built in 2025 quadplex with four units
- Fully leased 4‑plex with one unit available for showings
- Each unit offers three bedrooms and two bathrooms with walk‑in closets
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 | $59.7k | $14.04 |
| − Vacancy | −$6.6k | −$1.55 |
| EGI | $53.1k | $12.49 |
| − OpEx | −$15.9k | −$3.75 |
| NOI | $37.2k | $8.74 |
4,250 SF · lease $14.04/SF/yr · vacancy 11.02% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$530.9K
$464.6K – $619.4K
NOI $37,166 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$488.8K
$427.7K – $570.3K
NOI $34,219 @ 7.0% cap · market cap 3.20%
Theoretical Best
Hotel Hospitality
$3.20M
$2.80M – $3.73M
NOI $224,081 @ 7.0% cap · market cap 20.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
184
Businesses Nearby
Explore this area
Business Placement
Demographics for 78577, TX
79,937
Population
26,568
Households
3
Avg Household Size
30
Median Age
18%
College-Educated
70%
High-School Grad
26.0 sq mi
ZIP Area
3,075
Density / Sq Mi
$49,768
Median Household Income
$28,186
Median Earnings
$988
Median Rent
$111,500
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?
Quadplex - Newly built 4-plex is fully leased and each unit includes a private patio and three-bedroom, two-bath layout.
Where is this quadplex located?
The property is located at 3638-3841 N Mezcal Drive Pharr, TX.
What is the asking price?
The asking price for this property is $1,070,000.
What are key features of this property?
This property features: Built in 2025 quadplex with four units; Fully leased 4‑plex with one unit available for showings; Each unit offers three bedrooms and two bathrooms with walk‑in closets
