Building Details

Building Size 12,600 SF

Year Built 1985

Buildings 1

Stories 2

Units 18

Listing Agency: WINNERS CIRCLE Show Phone

Listed By: Avinaash Nash Buxani · License #TREC#0712106 Show Phone

Source: Gdvrealty

Added: Oct 19 Changed: Oct 23 Last Checked: Oct 23 at 2:02PM

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Investment Insights

Based on property information with market context.

This 18-unit apartment property contains 12,600 square feet and was built in 1985. Its unit mix includes 10 three-bedroom apartments, 5 two-bedroom apartments, and 3 one-bedroom apartments. Current occupancy is above 85%.

The property is located at 624 W Santa Rosa Avenue in Edcouch, Texas. An estimated cap rate of 8.42% is reported at stabilization.

Key Highlights

• 18 apartments across 12,600 square feet
• Unit mix: 10 three‑bedroom, 5 two‑bedroom, and 3 one‑bedroom apartments
• More than 85% occupied

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$101,449

Cap Rate

8.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,028,980 $2.0M

Cap Rate 7%

$1,449,271 $1.4M

Cap Rate 9%

$1,127,211 $1.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,600 SF

Gross rent

$208.7K $16.56/SF

− Vacancy

−$24.2K −$1.92/SF

EGI

$184.5K $14.64/SF

− OpEx

−$83.0K −$6.59/SF

NOI

$101.4K $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%

$2,028,980

Cap Rate 7%

$1,449,271

Cap Rate 9%

$1,127,211

Alternative Uses

Best Use

Apartment 5plus

$1.45M

$1.27M – $1.69M (±1% cap)

NOI $101,449 @ 7.0% cap · market cap 8.12%

Second Best

—

—

no second resolved use

Theoretical Best

Hotel Hospitality

$9.49M

$8.30M – $11.07M (±1% cap)

NOI $664,335 @ 7.0% cap · market cap 53.15%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Lease Details

18

Residential units

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

121

Businesses Nearby

Explore this area Business Placement

Demographics for 78538, TX

12,278

Population

3,745

Households

3.3

Avg Household Size

30

Median Age

11%

College-Educated

65%

High-School Grad

67.0 sq mi

ZIP Area

183

Density / Sq Mi

$38,904

Median Household Income

$29,442

Median Earnings

$586

Median Rent

$87,300

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Frequently Asked Questions

What type of property is this?

Apartment building - One-, two-, and three-bedroom apartments are currently more than 85% occupied.

Where is this apartment building located?

The property is located at 624 W Santa Rosa Avenue Edcouch, TX.

What is the asking price?

The asking price for this property is $1,250,000.

What are key features of this property?

This property features: 18 apartments across 12,600 square feet; Unit mix: 10 three‑bedroom, 5 two‑bedroom, and 3 one‑bedroom apartments; More than 85% occupied