Fully Occupied 6-Unit
For Sale
$379,000
613 S 12th St, McAllen, TX 78501
Fully occupied 6-unit multifamily property in Downtown McAllen with established monthly rent performance.
Property Size3,343 SF
Price / SF$113.37
Days on Market100
Property Features for 613 S 12th St
General Information
Standard status
Active
Size
3,343 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Cap Rate
7.7%
Highway Access
Yes
Multifamily Units
6
Building Details
Year Built
1971
Tenancy
Multi
Listing Agency:
RE/MAX elite
Listed By:
Erasmo Arjona
(956) 522-9632
Source:
Aregtx
Added: Jul 25
Changed: Oct 26
Last Checked: Oct 7 at 1:06PM
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 RE/MAX elite
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Investment Insights
Based on property information with market context.
This fully occupied 6-unit multifamily property is presented as a turnkey, income-producing investment. The units are described as well-maintained and leased, with nearly $4,000 per month in rents and an estimated 7.7% cap rate at the current asking price.
The property is located in Downtown McAllen in the 78501 zip code, positioned just minutes from 10th St and Expressway 83 for convenient tenant access.
For buyers seeking immediate occupancy and ongoing rental collections, this 6-unit asset is offered as a reliable addition to a multifamily portfolio.
The property is located in Downtown McAllen in the 78501 zip code, positioned just minutes from 10th St and Expressway 83 for convenient tenant access.
For buyers seeking immediate occupancy and ongoing rental collections, this 6-unit asset is offered as a reliable addition to a multifamily portfolio.
Key Highlights
- Fully occupied 6‑unit multifamily property in Downtown McAllen
- Year built 1971
- Nearly $4,000/month in rents reported
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,761
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$555,220
$555.2K
Cap Rate 7%
$396,586
$396.6K
Cap Rate 9%
$308,456
$308.5K
Market Conditions
NOI Build-Up for 3,343 SF
Gross rent
$54.2K $16.20/SF
− Vacancy
−$3.7K −$1.10/SF
EGI
$50.5K $15.10/SF
− OpEx
−$22.7K −$6.79/SF
NOI
$27.8K $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%
$555,220
Cap Rate 7%
$396,586
Cap Rate 9%
$308,456
Alternative Uses
Best Use
Apartment 5plus
$396.6K
$347.0K – $462.7K
NOI $27,761 @ 7.0% cap · market cap 7.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$907.8K
$794.3K – $1.06M
NOI $63,544 @ 7.0% cap · market cap 16.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,435
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied 6-unit multifamily property in Downtown McAllen with established monthly rent performance.
Where is this apartment building located?
The property is located at 613 S 12th St McAllen, TX.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: Fully occupied 6‑unit multifamily property in Downtown McAllen; Year built 1971; Nearly $4,000/month in rents reported
