4-Unit Quadplex with Gated
For Sale
Contact for pricing
3703 Sheraton Avenue, Pharr, TX 78577
Gated fourplex with updated interiors, private patios, carports, and a balanced two- and three-bedroom unit mix.
Property Size4,600 SF
Price / SF$95.65
Days on Market127
Property Features for 3703 Sheraton Avenue
General Information
Standard status
Active
Size
4,600 SF
Total Parking Spaces
8
Property subtype
Multifamily
Occupancy
100%
Units
Unit Mix
2 x 2BR/2BA, 2 x 3BR/2BA
Multifamily Units
4
Parking per Unit
2
Additional Details
Highway Access
Yes
Amenities
gated community
private fenced patio
carport
Building Details
Year Built
2006
Buildings
2
Units
4
Listing Agency:
RE/MAX elite
(956) 330-3674
Listed By:
Elizabeth Gomez · License #772669
Source:
Crexi
Added: Apr 27
Changed: Aug 30
Last Checked: Aug 30 at 5:54PM
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 RE/MAX elite
Investment Insights
Based on property information with market context.
Built in 2006, this 4,600-square-foot quadplex contains four residential units: two with two bedrooms and two bathrooms, plus two with three bedrooms and two bathrooms. Each residence offers an open interior arrangement with granite countertops, custom cabinetry, tile flooring, contemporary lighting, and ceiling fans in the living room and bedrooms. Kitchens include stainless steel appliances, microwaves, refrigerators, stoves, and washer/dryer units. Private fenced patios and two-vehicle carports serve each unit, while the property is located within a gated community.
The property is in Pharr near shopping centers, restaurants, entertainment, hospitals, and schools. Access to Expressway 83 and 281 is convenient for connectivity throughout the area. All four units are currently leased, providing an existing income-producing configuration.
The property is in Pharr near shopping centers, restaurants, entertainment, hospitals, and schools. Access to Expressway 83 and 281 is convenient for connectivity throughout the area. All four units are currently leased, providing an existing income-producing configuration.
Key Highlights
- 4,600 SF quadplex built in 2006
- Two 2‑bedroom/2‑bath units and two 3‑bedroom/2‑bath units
- All four units are leased
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,227
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$804,540
$804.5K
Cap Rate 7%
$574,671
$574.7K
Cap Rate 9%
$446,967
$447.0K
Market Conditions
NOI Build-Up for 4,600 SF
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.
Gross rent
$64.6K $14.04/SF
− Vacancy
−$7.1K −$1.55/SF
EGI
$57.5K $12.49/SF
− OpEx
−$17.2K −$3.75/SF
NOI
$40.2K $8.74/SF
Area
Hidalgo County, TX
Vacancy
11.02%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$804,540
Cap Rate 7%
$574,671
Cap Rate 9%
$446,967
Alternative Uses
Best Use
Multifamily LT 5
$574.7K
$502.8K – $670.5K
NOI $40,227 @ 7.0% cap · market cap 9.14%
Second Best
Apartment 5plus
$529.1K
$463.0K – $617.3K
NOI $37,037 @ 7.0% cap · market cap 8.42%
Theoretical Best
Hotel Hospitality
$3.46M
$3.03M – $4.04M
NOI $242,535 @ 7.0% cap · market cap 55.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
83
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 - Gated fourplex with updated interiors, private patios, carports, and a balanced two- and three-bedroom unit mix.
Where is this quadplex located?
The property is located at 3703 Sheraton Avenue Pharr, TX.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: 4,600 SF quadplex built in 2006; Two 2‑bedroom/2‑bath units and two 3‑bedroom/2‑bath units; All four units are leased
