Harlingen Multifamily Investment
For Sale
$1,150,000
630 W Taft Ave, Harlingen, TX 78550
18-unit apartment community in central Harlingen, Texas.
Property Size11,924 SF
Lot Size0.41 Acres
Price / SF$96.44
Days on Market197
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Property Features for 630 W Taft Ave
General Information
Standard status
Active
Size
11,924 SF
Lot size
0.41 Acres
Property subtype
Multi-Family
Building Details
Building Size
11,924 SF
Year Built
1983
Stories
2
Units
18
Listing Agency:
Coldwell Banker Commercial Rio Grande Valley
Listed By:
Daniel Galvan · License #582851
(956) 631-1322
Source:
Commercialcafe
Added: Apr 2
Changed: Oct 15
Last Checked: Oct 14 at 8:42PM
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 Coldwell Banker Commercial Rio Grande Valley
Investment Insights
Based on property information with market context.
This two-story, garden-style apartment community, constructed in 1983, is located in central Harlingen, Texas. The property comprises 18 units, totaling approximately 11,924 square feet and situated on approximately 0.41 acres. The unit layouts primarily feature two-bedroom configurations, with a selection of three-bedroom units also available. The central location provides convenient access to schools, neighborhood retail options, and major thoroughfares throughout the Rio Grande Valley, catering to workforce housing demand.
Key Highlights
- 18‑unit apartment community in central Harlingen, Texas.
- Features primarily two‑bedroom units with select three‑bedroom layouts.
- Convenient access to schools, neighborhood retail, and major thoroughfares.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$90,217
Cap Rate
7.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,804,340
$1.8M
Cap Rate 7%
$1,288,814
$1.3M
Cap Rate 9%
$1,002,411
$1.0M
Market Conditions
NOI Build-Up for 11,924 SF
Gross rent
$176.0K $14.76/SF
− Vacancy
−$12.0K −$1.00/SF
EGI
$164.0K $13.76/SF
− OpEx
−$73.8K −$6.19/SF
NOI
$90.2K $7.57/SF
Area
Cameron County, TX
Vacancy
6.80%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,804,340
Cap Rate 7%
$1,288,814
Cap Rate 9%
$1,002,411
Alternative Uses
Best Use
Apartment 5plus
$1.29M
$1.13M – $1.50M
NOI $90,217 @ 7.0% cap · market cap 7.84%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$2.05M
$1.80M – $2.40M
NOI $143,718 @ 7.0% cap · market cap 12.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
287
Businesses Nearby
Explore this area
Business Placement
Demographics for 78550, TX
56,038
Population
22,347
Households
2.5
Avg Household Size
35
Median Age
22%
College-Educated
77%
High-School Grad
94.2 sq mi
ZIP Area
595
Density / Sq Mi
$51,524
Median Household Income
$32,065
Median Earnings
$863
Median Rent
$120,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - 18-unit apartment community in central Harlingen, Texas.
Where is this apartment building located?
The property is located at 630 W Taft Ave Harlingen, TX.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 18‑unit apartment community in central Harlingen, Texas.; Features primarily two‑bedroom units with select three‑bedroom layouts.; Convenient access to schools, neighborhood retail, and major thoroughfares.
