12-Unit Condominium
New
For Sale
$2,400,000
4305-4209 Heron Avenue, McAllen, TX 78504
Each residence has three bedrooms, two bathrooms, and a private patio.
Property Size19,000 SF
Price / SF$126.32
Days on Market7
Property Features for 4305-4209 Heron Avenue
General Information
Standard status
Active
Size
19,000 SF
Total Parking Spaces
24
Property subtype
Multi Family Home
Units
Unit Mix
12 x 3BR/2BA
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$57,000
Amenities
courts
pickleball
playground
gated access
BBQ areas
jogging trails
Ceiling Fan(s)
Decorative/High Ceilings
Dryer
Microwave
Walk-In Closet(s)
Washer
Building Details
Building Size
19,000 SF
Year Built
2026
Buildings
12
Stories
2
Units
12
Listing Agency:
Texas Landmark Realty LLC
Listed By:
Irene Uribe Manrique De Lara · License #801067752
(956) 492-5638
Source:
Gdvrealty
Added: Oct 19
Changed: Oct 23
Last Checked: Oct 23 at 2:02PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 12-unit condominium portfolio was built in 2026. Each residence is configured with 3 bedrooms and 2 bathrooms, plus a private patio. Kitchens include a stainless-steel stove, refrigerator, and microwave hood, along with a pantry and space for a dishwasher. Two units include model-home furnishings.
The properties are within gated Sunset Valley in McAllen. Community features include sports courts, pickleball, a playground, BBQ areas, and jogging trails. HOA services cover trash, sprinkler service, and grass trimming in accessible areas; tenants pay water and electricity.
A 6-month builder warranty covers structural components, A/C, electrical systems, and the roof.
The properties are within gated Sunset Valley in McAllen. Community features include sports courts, pickleball, a playground, BBQ areas, and jogging trails. HOA services cover trash, sprinkler service, and grass trimming in accessible areas; tenants pay water and electricity.
A 6-month builder warranty covers structural components, A/C, electrical systems, and the roof.
Key Highlights
- 12 condominiums built in 2026
- Each unit has 3 bedrooms, 2 bathrooms, and a private patio
- Stainless‑steel stove, refrigerator, and microwave hood in each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$157,778
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,155,560
$3.2M
Cap Rate 7%
$2,253,971
$2.3M
Cap Rate 9%
$1,753,089
$1.8M
Market Conditions
NOI Build-Up for 19,000 SF
Gross rent
$307.8K $16.20/SF
− Vacancy
−$20.9K −$1.10/SF
EGI
$286.9K $15.10/SF
− OpEx
−$129.1K −$6.79/SF
NOI
$157.8K $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%
$3,155,560
Cap Rate 7%
$2,253,971
Cap Rate 9%
$1,753,089
Alternative Uses
Best Use
Apartment 5plus
$2.25M
$1.97M – $2.63M
NOI $157,778 @ 7.0% cap · market cap 6.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.16M
$4.51M – $6.02M
NOI $361,152 @ 7.0% cap · market cap 15.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
Explore this area
Business Placement
Demographics for 78504, TX
56,830
Population
21,417
Households
2.7
Avg Household Size
35
Median Age
40%
College-Educated
86%
High-School Grad
19.6 sq mi
ZIP Area
2,899
Density / Sq Mi
$77,627
Median Household Income
$41,632
Median Earnings
$1,178
Median Rent
$203,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Each residence has three bedrooms, two bathrooms, and a private patio.
Where is this multifamily property located?
The property is located at 4305-4209 Heron Avenue McAllen, TX.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 12 condominiums built in 2026; Each unit has 3 bedrooms, 2 bathrooms, and a private patio; Stainless‑steel stove, refrigerator, and microwave hood in each residence
