Leased Apartment Complex in
8005 Cisne Street Pharr, TX 78577
For Sale
$760,000
MULTI_FAMILY - Pharr, TX
Property Size7,998 SF
Lot Size0.64 Acres
Price / SF$95.02
Days on Market93
Property Features for 8005 Cisne Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 18
- Parking features
- Carport, Garage
- Exterior features
- Mature Trees
- Appliances
- Electric Water Heater, Disposal, Refrigerator, Stove/Range, Washer
- Standard status
- Active
- APN
- L330000000000613
- Size
- 7,998 SF
- Lot size
- 0.64 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Annual Amount
- 14387
Utilities
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Electric
- Water source
- Public
Building Details
- Year built
- 1999
- Floors in Building
- 1
- Number of units
- 9
- Building materials
- Brick, Wood Siding
- Roof type
- Composition
Listing Agency:
Glass House Real Estate
(956) 331-9329
Listed By:
Antonio Gabriel Villeda
(956) 331-9329
Added: Apr 25
Changed: Jun 8
Last Checked: Jul 26 at 9:06PM
MLS# 410289
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 is a fully leased, 9-unit apartment complex located in Pharr, TX. The complex features a mixture of units, with the majority being 3-bedroom, 2-bath layouts. The property has a gross operating income (GOI) of almost $81,000. All leases are 12 months in duration. The roof was replaced in 2016. The HVAC and water heater units are less than 7 years old for most units. The property includes ample parking and is situated in a desirable location. The property size is 7,998 square feet and the lot size is 0.64 acres.
Key Highlights
- Fully leased 9‑unit apartment complex providing immediate rental income.
- Gross Operating Income (GOI) of almost $81,000, indicating strong current profitability.
- Majority of units are desirable 3 bed / 2 bath configurations.
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 | $132.4k | $16.56 |
| − Vacancy | −$15.4k | −$1.92 |
| EGI | $117.1k | $14.64 |
| − OpEx | −$52.7k | −$6.59 |
| NOI | $64.4k | $8.05 |
7,998 SF · lease $16.56/SF/yr · vacancy 11.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$919.9K
$805.0K – $1.07M
NOI $64,396 @ 7.0% cap · market cap 8.47%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$6.02M
$5.27M – $7.03M
NOI $421,695 @ 7.0% cap · market cap 55.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Fully leased 9-unit apartment complex with upside potential.
Where is this apartment building located?
The property is located at 8005 Cisne Street Pharr, TX.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: Fully leased 9‑unit apartment complex providing immediate rental income.; Gross Operating Income (GOI) of almost $81,000, indicating strong current profitability.; Majority of units are desirable 3 bed / 2 bath configurations.
