Remodeled 8-Unit Apartment
712 Toronto Ave., McAllen, TX 85901
For Sale
$700,000
Residential Income, McAllen, TX
Property Size7,440 SF
Lot Size0.01 Acres
Price / SF$94.09
Days on Market148
Property Features for 712 Toronto Ave.
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Patio and Porch features
Pets allowed
Interior features
Exterior features
Fencing
Appliances
Elementary school district
Middle school district
High school district
Subdivision
Standard status
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
Effective Real Estate
(956) 322-8522
Listed By:
Ryan McDaniel
(956) 299-2111
Added: Jun 19
Changed: Oct 31
Last Checked: Nov 13 at 11:06PM
MLS# 106431
Copyright © 2026 South Padre Island Board 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.
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Investment Insights
Based on property information with market context.
This 8-unit apartment building contains 7,440 square feet, with every residence configured as a 2-bedroom, 2-bathroom unit. Interior updates include windows, door hardware, cabinets, countertops, recessed lighting, trim, ceiling fans, and tile flooring. Each unit also includes oven, refrigerator, and stove appliances, along with washer/dryer hookups.
Built in 1985, the brick property has balconies, decks, fencing, composition roofing, and garage parking. The property is zoned R and is situated near 10th St and La Plaza Mall in McAllen, providing a defined residential setting close to a major retail destination.
Built in 1985, the brick property has balconies, decks, fencing, composition roofing, and garage parking. The property is zoned R and is situated near 10th St and La Plaza Mall in McAllen, providing a defined residential setting close to a major retail destination.
Key Highlights
- 8‑unit apartment building with 7,440 square feet
- All 8 units feature 2‑bedroom, 2‑bathroom layouts
- Updated windows, cabinets, countertops, tile, lighting, trim, and ceiling fans
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,783
Cap Rate
8.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,235,660
$1.2M
Cap Rate 7%
$882,614
$882.6K
Cap Rate 9%
$686,478
$686.5K
Market Conditions
NOI Build-Up for 7,440 SF
Gross rent
$120.5K $16.20/SF
− Vacancy
−$8.2K −$1.10/SF
EGI
$112.3K $15.10/SF
− OpEx
−$50.5K −$6.79/SF
NOI
$61.8K $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%
$1,235,660
Cap Rate 7%
$882,614
Cap Rate 9%
$686,478
Alternative Uses
Best Use
Apartment 5plus
$882.6K
$772.3K – $1.03M
NOI $61,783 @ 7.0% cap · market cap 8.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,420 @ 7.0% cap · market cap 20.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
2,591
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in McAllen, TX
Properties on Market for Apartment buildings in McAllen
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight two-bedroom residences offer updated interiors, tiled floors, and washer/dryer hookups.
Where is this apartment building located?
The property is located at 712 Toronto Ave. McAllen, TX.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 8‑unit apartment building with 7,440 square feet; All 8 units feature 2‑bedroom, 2‑bathroom layouts; Updated windows, cabinets, countertops, tile, lighting, trim, and ceiling fans
