Triplex with Coin-Operated
New
For Sale
$240,000
600 S Canal Street, La Feria, TX 78559
Three residential units share on-site laundry, with a separate garage unit offering an additional rental option.
Property Size1,640 SF
Lot Size1.13 Acres
Price / SF$146.34
Days on Market3
Property Features for 600 S Canal Street
General Information
Standard status
Active
Size
1,640 SF
Lot size
1.13 Acres
Property subtype
Multi Family
Units
Unit Mix
3 x 1BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$25,800
Tenant in Place
Yes
Amenities
coin-operated laundry facility
Building Details
Year Built
1980
Buildings
1
Listing Agency:
SANETI REALTY GROUP
Listed By:
Alberto Sanchez
(956) 215-1125
Source:
Sanetirealty
Added: Nov 1
Last Checked: Nov 1 at 1:45AM
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 1980-built triplex contains 1,640 square feet across three 1-bedroom, 1-bathroom units. A coin-operated laundry facility serves residents, and a separate garage unit may provide another rental option. The 1.13-acre property also includes parking and mature trees.
Stores, restaurants, schools, and a church are within walking distance in La Feria, Texas.
Stores, restaurants, schools, and a church are within walking distance in La Feria, Texas.
Key Highlights
- Three 1‑bedroom, 1‑bathroom units in one building
- 1,640 square feet on 1.13 acres
- Coin‑operated laundry facility for residents
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,530
Cap Rate
5.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$270,600
$270.6K
Cap Rate 7%
$193,286
$193.3K
Cap Rate 9%
$150,333
$150.3K
Market Conditions
NOI Build-Up for 1,640 SF
Gross rent
$20.7K $12.60/SF
− Vacancy
−$1.3K −$0.81/SF
EGI
$19.3K $11.79/SF
− OpEx
−$5.8K −$3.54/SF
NOI
$13.5K $8.25/SF
Area
Cameron County, TX
Vacancy
6.46%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$270,600
Cap Rate 7%
$193,286
Cap Rate 9%
$150,333
Alternative Uses
Best Use
Multifamily LT 5
$193.3K
$169.1K – $225.5K
NOI $13,530 @ 7.0% cap · market cap 5.64%
Second Best
Apartment 5plus
$177.3K
$155.1K – $206.8K
NOI $12,408 @ 7.0% cap · market cap 5.17%
Theoretical Best
Healthcare Medical
$282.4K
$247.1K – $329.5K
NOI $19,767 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
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Business Placement
Demographics for 78559, TX
12,533
Population
5,047
Households
2.5
Avg Household Size
37
Median Age
14%
College-Educated
72%
High-School Grad
36.3 sq mi
ZIP Area
345
Density / Sq Mi
$48,117
Median Household Income
$31,927
Median Earnings
$985
Median Rent
$99,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units share on-site laundry, with a separate garage unit offering an additional rental option.
Where is this triplex located?
The property is located at 600 S Canal Street La Feria, TX.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Three 1‑bedroom, 1‑bathroom units in one building; 1,640 square feet on 1.13 acres; Coin‑operated laundry facility for residents
