Renovated Multifamily Property Near La
For Sale
$700,000
712 Toronto Avenue McAllen, McAllen, TX 78503
Fully renovated 8-unit multifamily property near La Plaza Mall.
Property Size7,440 SF
Days on Market402
Property Features for 712 Toronto Avenue McAllen
General Information
Standard status
Active
Size
7,440 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$1,254
Building Details
Building Size
7,440 SF
Year Built
1980
Listing Agency:
Effective Real Estate
Listed By:
Ryan J. McDaniel
(956) 299-2111
Source:
Primeluxuryrealestate
Added: Sep 10, 2025
Changed: Oct 9
Last Checked: Oct 15 at 8:12AM
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 Effective Real Estate
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Investment Insights
Based on property information with market context.
This fully renovated multifamily property features eight units. Each unit includes two bedrooms and two bathrooms. The units have been extensively upgraded with new windows, door hardware, cabinets, countertops, tile flooring, recessed lighting, trim, and ceiling fans throughout. The property is located off 10th Street, near La Plaza Mall.
Key Highlights
- Fully renovated 8‑unit multifamily property.
- Prime location near La Plaza Mall, a premier shopping destination.
- Each unit is a spacious 2‑bedroom, 2‑bath layout.
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.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,622
Businesses Nearby
Explore this area
Business Placement
Demographics for 78503, TX
23,604
Population
8,090
Households
2.9
Avg Household Size
35
Median Age
25%
College-Educated
71%
High-School Grad
19.2 sq mi
ZIP Area
1,229
Density / Sq Mi
$48,765
Median Household Income
$27,514
Median Earnings
$1,087
Median Rent
$130,100
Median Home Value
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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 - Fully renovated 8-unit multifamily property near La Plaza Mall.
Where is this apartment building located?
The property is located at 712 Toronto Avenue McAllen 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: Fully renovated 8‑unit multifamily property.; Prime location near La Plaza Mall, a premier shopping destination.; Each unit is a spacious 2‑bedroom, 2‑bath layout.
