8-Unit Two-Story Apartment
New
For Sale
$675,000
417 N 28th Street, McAllen, TX 78501
Each residence offers two bedrooms and one-and-a-half baths in a multi-level layout.
Property Size6,486 SF
Price / SF$104.07
Days on Market2
Property Features for 417 N 28th Street
General Information
Standard status
Active
Size
6,486 SF
Property subtype
Multi Family
Units
Unit Mix
8 x 2BR/1.5BA
Multifamily Units
8
Building Details
Year Built
1994
Listing Agency:
SANETI REALTY GROUP
Listed By:
Alberto Sanchez
(956) 215-1125
Source:
Sanetirealty
Added: Nov 1
Last Checked: Nov 1 at 3:07PM
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 8-unit apartment property contains two-story residences, each configured with 2 bedrooms and 1.5 baths. The building totals 6,486 square feet and was constructed in 1994.
The property is located blocks from South Texas College and the McAllen Convention Center.
The property is located blocks from South Texas College and the McAllen Convention Center.
Key Highlights
- 8 two‑story apartment units
- Each unit has 2 bedrooms and 1.5 baths
- 6,486 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,861
Cap Rate
7.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,077,220
$1.1M
Cap Rate 7%
$769,443
$769.4K
Cap Rate 9%
$598,456
$598.5K
Market Conditions
NOI Build-Up for 6,486 SF
Gross rent
$105.1K $16.20/SF
− Vacancy
−$7.1K −$1.10/SF
EGI
$97.9K $15.10/SF
− OpEx
−$44.1K −$6.79/SF
NOI
$53.9K $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%
$1,077,220
Cap Rate 7%
$769,443
Cap Rate 9%
$598,456
Alternative Uses
Best Use
Apartment 5plus
$769.4K
$673.3K – $897.7K
NOI $53,861 @ 7.0% cap · market cap 7.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $123,286 @ 7.0% cap · market cap 18.26%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
899
Businesses Nearby
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Business Placement
Demographics for 78501, TX
60,817
Population
24,807
Households
2.5
Avg Household Size
37
Median Age
27%
College-Educated
77%
High-School Grad
15.5 sq mi
ZIP Area
3,924
Density / Sq Mi
$49,451
Median Household Income
$29,092
Median Earnings
$943
Median Rent
$149,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Each residence offers two bedrooms and one-and-a-half baths in a multi-level layout.
Where is this apartment building located?
The property is located at 417 N 28th Street McAllen, TX.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 8 two‑story apartment units; Each unit has 2 bedrooms and 1.5 baths; 6,486 square feet
