Six-Unit Apartment
For Sale
$379,000
613 S 12th Street, McAllen, TX 78501
MULTI_FAMILY - McAllen, TX
Property Size3,343 SF
Lot Size0.16 Acres
Price / SF$113.37
Days on Market76
Property Features for 613 S 12th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
1
Parking features
Other, Garage
Fencing
Chain Link
Appliances
Electric Water Heater, Refrigerator, Stove/Range
Subdivision
Mcallen Addition
Lot features
Alley, Curb & Gutters, Mature Trees, Sidewalks
Elementary school
Fields
Middle school
Travis
High school
McAllen H.S.
Elementary school district
McAllen ISD
Middle school district
McAllen ISD
High school district
McAllen ISD
Directions
From Expressway North on 10th St, left on Galveston, right on S 12th St. Property will be on your right.
Standard status
Active
APN
M195000050001000
Size
3,343 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7689
Utilities
Heating system
Central
Cooling system
Window Unit(s), Central Air
Building Details
Year built
1971
Floors in Building
2
Number of units
7
Building materials
Block, Siding
Roof type
Shingle
Listing Agency:
RE/MAX elite · RE/MAX International
(956) 583-2100
Listed By:
Erasmo Arjona
(956) 522-9632
Added: Jun 9
Changed: Aug 13
Last Checked: Aug 23 at 4:06AM
MLS# 501268
Copyright © 2026 Greater McAllen Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Six-unit apartment building offered fully occupied. The property is sited on a 0.1607-acre lot and contains 3,343 square feet of space, built in 1971. Construction materials include block and siding, with a shingle roof. Heating is provided by central systems. Cooling includes window unit(s) and central air.
Located at 613 S 12th Street in McAllen, TX 78501 (Hidalgo County), the building is described as being just minutes from 10th St and Expressway 83, supporting convenient access for tenants in the Downtown McAllen area.
Common in-unit appliances include an electric water heater, refrigerator, and stove/range. Parking is supported by a garage, and the property perimeter includes chain-link fencing.
Located at 613 S 12th Street in McAllen, TX 78501 (Hidalgo County), the building is described as being just minutes from 10th St and Expressway 83, supporting convenient access for tenants in the Downtown McAllen area.
Common in-unit appliances include an electric water heater, refrigerator, and stove/range. Parking is supported by a garage, and the property perimeter includes chain-link fencing.
Key Highlights
- Fully occupied six‑unit apartment building
- 0.1607‑acre lot
- 3,343 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,761
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,447
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied six-unit multifamily property with central heat and window or central air plus garage parking.
Where is this apartment building located?
The property is located at 613 S 12th Street 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 six‑unit apartment building; 0.1607‑acre lot; 3,343 square feet
