78-Unit Apartment
For Sale
$7,500,000
3801 Moreland Dr, Weslaco, TX 78596
Four development phases offer a mix of one-, two-, and three-bedroom apartments, including a unit with a two-car garage.
Property Size77,325 SF
Price / SF$96.99
Days on Market21
Property Features for 3801 Moreland Dr
General Information
Standard status
Active
Size
77,325 SF
Property subtype
Residential Income
Occupancy
98%
Additional Details
Highway Access
Yes
Multifamily Units
78
Taxes and HOA fees
Annual Taxes
$110,000
Listing Agency:
Marcus Phipps Real Estate LLC
Listed By:
Marcus Phipps · License #450735
(956) 423-5300
Source:
Exprealty
Added: Sep 24
Changed: Oct 12
Last Checked: Oct 12 at 11:14PM
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 Marcus Phipps Real Estate LLC
Investment Insights
Based on property information with market context.
This 78-unit apartment property in Weslaco is arranged across four phases and includes a range of floor plans. Phase 1 contains 19 apartments: five one-bedroom units and 14 two-bedroom units. Phase 2 adds six one-bedroom apartments, 17 two-bedroom apartments, and one three-bedroom unit with a two-car garage. Phases 3 and 4 consist entirely of two-bedroom apartments. Most one-bedroom units contain 875 square feet, with one at 775 square feet; the two-bedroom units are 1,000 square feet, and the three-bedroom apartment is 1,800 square feet.
The property is near the expressway, dining, and entertainment options. Reported occupancy was 98.4% in 2025. The apartment mix spans three bedroom configurations across the four phases.
The property is near the expressway, dining, and entertainment options. Reported occupancy was 98.4% in 2025. The apartment mix spans three bedroom configurations across the four phases.
Key Highlights
- 78 apartments in four phases
- 98.4% occupancy in 2025
- 11 one‑bedroom units: 10 at 875 square feet and one at 775 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$622,580
Cap Rate
8.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,451,600
$12.5M
Cap Rate 7%
$8,894,000
$8.9M
Cap Rate 9%
$6,917,556
$6.9M
Market Conditions
NOI Build-Up for 77,325 SF
Gross rent
$1.28M $16.56/SF
− Vacancy
−$148.5K −$1.92/SF
EGI
$1.13M $14.64/SF
− OpEx
−$509.4K −$6.59/SF
NOI
$622.6K $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%
$12,451,600
Cap Rate 7%
$8,894,000
Cap Rate 9%
$6,917,556
Alternative Uses
Best Use
Apartment 5plus
$8.89M
$7.78M – $10.38M
NOI $622,580 @ 7.0% cap · market cap 8.30%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$58.24M
$50.96M – $67.95M
NOI $4,076,961 @ 7.0% cap · market cap 54.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
78
Residential units
98.4%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
318
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Four development phases offer a mix of one-, two-, and three-bedroom apartments, including a unit with a two-car garage.
Where is this apartment building located?
The property is located at 3801 Moreland Dr Weslaco, TX.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: 78 apartments in four phases; 98.4% occupancy in 2025; 11 one‑bedroom units: 10 at 875 square feet and one at 775 square feet
