Two-Story 6-Unit-Over-6 Apartment
For Sale
$849,000
502 Miguel Hidalgo Street, San Juan, TX 78589
Well-maintained 12-unit apartment building built in 1996 with a two-story 6-up/6-down layout and individual electric and water meters.
Property Size6,600 SF
Days on Market96
Property Features for 502 Miguel Hidalgo Street
General Information
Standard status
Active
Size
6,600 SF
Property subtype
Apartment
Additional Details
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$13,854
Building Details
Building Size
6,600 SF
Year Built
1996
Stories
2
Listing Agency:
Abolengo Properties LLC
Listed By:
Leslie J. De Leon
(956) 328-6967
Source:
Primeluxuryrealestate
Added: Jul 29
Changed: Oct 31
Last Checked: Nov 1 at 2:28PM
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 Abolengo Properties LLC
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Investment Insights
Based on property information with market context.
This well-maintained 12-unit apartment complex was built in 1996 and organized in a practical two-story 6-up/6-down layout. Several units feature decorative epoxy-coated concrete flooring, offering a clean, durable, low-maintenance finish.
Operationally, each unit is individually metered for electricity and water, allowing tenants to pay their own utilities and helping keep operating expenses efficient. The property does not have washer/dryer connections, which can help avoid maintenance and plumbing issues, and a laundromat is conveniently located nearby.
Recent capital improvements include a new roof and most A/C units replaced, supporting reduced near-term maintenance. With a solid rental history and ongoing in-place appeal, the building offers a straightforward multifamily ownership opportunity.
Operationally, each unit is individually metered for electricity and water, allowing tenants to pay their own utilities and helping keep operating expenses efficient. The property does not have washer/dryer connections, which can help avoid maintenance and plumbing issues, and a laundromat is conveniently located nearby.
Recent capital improvements include a new roof and most A/C units replaced, supporting reduced near-term maintenance. With a solid rental history and ongoing in-place appeal, the building offers a straightforward multifamily ownership opportunity.
Key Highlights
- Built in 1996 12‑unit apartment complex with a two‑story 6‑up/6‑down layout
- New roof plus most A/C units replaced for reduced near‑term maintenance
- Each unit individually metered for electricity and water
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,140
Cap Rate
6.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,062,800
$1.1M
Cap Rate 7%
$759,143
$759.1K
Cap Rate 9%
$590,444
$590.4K
Market Conditions
NOI Build-Up for 6,600 SF
Gross rent
$109.3K $16.56/SF
− Vacancy
−$12.7K −$1.92/SF
EGI
$96.6K $14.64/SF
− OpEx
−$43.5K −$6.59/SF
NOI
$53.1K $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%
$1,062,800
Cap Rate 7%
$759,143
Cap Rate 9%
$590,444
Alternative Uses
Best Use
Apartment 5plus
$759.1K
$664.3K – $885.7K
NOI $53,140 @ 7.0% cap · market cap 6.26%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$4.97M
$4.35M – $5.80M
NOI $347,985 @ 7.0% cap · market cap 40.99%
Zoning and permitted uses should be independently verified with authorities.
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Who owns this building?
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Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
521
Businesses Nearby
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Business Placement
Demographics for 78589, TX
38,987
Population
12,393
Households
3.1
Avg Household Size
32
Median Age
13%
College-Educated
62%
High-School Grad
25.5 sq mi
ZIP Area
1,529
Density / Sq Mi
$51,662
Median Household Income
$27,679
Median Earnings
$926
Median Rent
$112,400
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 - Well-maintained 12-unit apartment building built in 1996 with a two-story 6-up/6-down layout and individual electric and water meters.
Where is this apartment building located?
The property is located at 502 Miguel Hidalgo Street San Juan, TX.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Built in 1996 12‑unit apartment complex with a two‑story 6‑up/6‑down layout; New roof plus most A/C units replaced for reduced near‑term maintenance; Each unit individually metered for electricity and water
