Remodeled 8-Unit Apartment
712 Toronto Avenue McAllen, TX 78503
New
712 Toronto Avenue, McAllen, TX, 78503
$700,000
For Sale
$700,000
MULTI_FAMILY - McAllen, TX
Property Size7,440 SF
Price / SF$94.09
Days on Market7
Property Features for 712 Toronto Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- None
- Patio and Porch features
- Porch
- Exterior features
- Balcony
- Appliances
- Electric Water Heater, Water Heater (Other Location), Refrigerator, Stove/Range
- Standard status
- Active
- APN
- L17150200A000700
- Size
- 7,440 SF
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 1254
Utilities
- Heating system
- Central, Electric (Heating)
- Cooling system
- Central Air, Electric
- Water source
- Public
Building Details
- Year built
- 1980
- Floors in Building
- 2
- Number of units
- 8
- Building materials
- Brick
Listing Agency
Effective Real Estate
(956) 322-8522
2212 Primrose Ave., McAllen, TX
Listed by
Ryan J. Mcdaniel
(956) 299-2111
Added: Jul 12 Checked: Jul 18 at 11:06 am
MLS# 506486
Listing URL
Copyright © 2026 Greater McAllen Association 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.
Investment Insights
Based on property information with market context.
This for-sale apartment building includes eight units, and each unit is configured as a 2-bedroom, 2-bath layout. The property is described as extensively remodeled, with new windows, updated door hardware, cabinets and countertops, tile, recessed lighting, trim, and ceiling fans throughout the units.
The building is located at 712 Toronto Avenue in McAllen, Texas. The public remarks indicate the property is just down the street from La Plaza Mall, which is described as a premier shopping destination in the Rio Grande Valley and featuring more than 1,300,000 square feet of retail space.
For investors or buyers seeking a small multifamily asset with consistent unit types, the uniform 2-bedroom, 2-bath configuration and documented interior upgrades may support straightforward leasing and maintenance planning. Seller financing is also noted in the remarks, which may offer additional flexibility for qualified buyers. All details regarding terms and condition beyond the stated improvements should be verified during due diligence.
The building is located at 712 Toronto Avenue in McAllen, Texas. The public remarks indicate the property is just down the street from La Plaza Mall, which is described as a premier shopping destination in the Rio Grande Valley and featuring more than 1,300,000 square feet of retail space.
For investors or buyers seeking a small multifamily asset with consistent unit types, the uniform 2-bedroom, 2-bath configuration and documented interior upgrades may support straightforward leasing and maintenance planning. Seller financing is also noted in the remarks, which may offer additional flexibility for qualified buyers. All details regarding terms and condition beyond the stated improvements should be verified during due diligence.
Key Highlights
- 8‑unit multifamily property; all units are 2 bed, 2 bath
- Extensively remodeled units with new windows, door hardware, cabinets, countertops, tile, recessed lighting, trim, and ceiling fans
- Brick construction with balcony and porch
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $120.5k | $16.20 |
| − Vacancy | −$8.2k | −$1.10 |
| EGI | $112.3k | $15.10 |
| − OpEx | −$50.5k | −$6.79 |
| NOI | $61.8k | $8.30 |
7,440 SF · lease $16.20/SF/yr · vacancy 6.80% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Eight remodeled two-bedroom, two-bath units offer a turnkey residential income option in McAllen.
Where is this apartment building located?
The property is located at 712 Toronto Avenue 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 multifamily property; all units are 2 bed, 2 bath; Extensively remodeled units with new windows, door hardware, cabinets, countertops, tile, recessed lighting, trim, and ceiling fans; Brick construction with balcony and porch
