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 Market356
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
(956) 631-1322
Listed By:
Ryan J. McDaniel · License #582851
Source:
Primeluxuryrealestate
Added: Sep 10, 2025
Changed: Aug 23
Last Checked: Aug 30 at 10:28PM
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
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 = 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
$61,783
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
8.83%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
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 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.
