8-Unit Apartment
For Sale
$700,000
712 Toronto Avenue, McAllen, TX 78503
Residential Income, McAllen, TX
Property Size7,440 SF
Price / SF$94.09
Days on Market103
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
Subdivision
La Plaza Villa #2
Elementary school
Fields
Middle school
Travis
High school
McAllen H.S.
Elementary school district
McAllen ISD
Middle school district
McAllen ISD
High school district
McAllen ISD
Directions
From 10th street, head East on Toronto Ave. The units will be on the right hand side just past 8th st.
Standard status
Active
APN
L17150200A000700
Size
7,440 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1254
Utilities
Heating system
Electric (Heating), Central
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
Listed By:
Ryan J. Mcdaniel
(956) 299-2111
Added: Jul 12
Changed: Oct 8
Last Checked: Oct 22 at 10:06AM
MLS# 506486
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.
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Investment Insights
Based on property information with market context.
This 8-unit apartment building contains 7,440 square feet and was built in 1980. Each residence offers two bedrooms and two bathrooms, with updates including windows, door hardware, cabinetry, countertops, tile, recessed lighting, trim, and ceiling fans. Brick construction, balconies, porches, central electric heating and cooling, refrigerators, and stove/ranges are included across the property. Water service is provided through the public system.
The property is located at 712 Toronto Avenue in McAllen, near 10th Street and La Plaza Mall. The mall offers more than 1,300,000 square feet of retail space and serves as a major shopping destination in the Rio Grande Valley.
The property is located at 712 Toronto Avenue in McAllen, near 10th Street and La Plaza Mall. The mall offers more than 1,300,000 square feet of retail space and serves as a major shopping destination in the Rio Grande Valley.
Key Highlights
- 8‑unit apartment building with 7,440 square feet
- All units feature a two‑bedroom, two‑bathroom layout
- Remodeled with new 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.
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Lease Details
8
Residential units
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Remodeled two-bedroom, two-bath units with central heating and cooling.
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 apartment building with 7,440 square feet; All units feature a two‑bedroom, two‑bathroom layout; Remodeled with new windows, cabinets, countertops, tile, lighting, trim, and ceiling fans
