Luxury Apartments Near
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403 Pirul Street W, Edinburg, TX 78541
Luxury apartments near the University of Texas RGV.
Property Size3,844 SF
Price / SF$124.84
Days on Market778
Property Features for 403 Pirul Street W
General Information
Standard status
Active
Size
3,844 SF
Total Parking Spaces
8
Property subtype
Multifamily
Building Details
Year Built
2015
Buildings
1
Units
4
Listing Agency:
BERKSHIRE HATHAWAY HOMESERVICES RGV REALTY
Listed By:
Martin Manzo · License #TREC # 0579568
Source:
Crexi
Added: Sep 3, 2024
Changed: Oct 7
Last Checked: Oct 19 at 4:55AM
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 BERKSHIRE HATHAWAY HOMESERVICES RGV REALTY
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Investment Insights
Based on property information with market context.
This property features luxury apartments within walking distance of the University of Texas RGV. The units have industrial gray-white walls, porcelain flooring, rainfall showers, and granite countertops in both the kitchen and bathrooms. Modern fixtures are installed throughout, including ceiling fans, lights, faucets, sink vessels, and showers. Each apartment includes appliances. The property is fenced and includes concrete slab private patio areas. Situated on a large corner lot at the end of a dead-end street, the location offers low traffic and privacy. The property size is 3844 square feet.
Key Highlights
- Walking distance to the University of Texas RGV.
- Enjoy your private fenced patio.
- Includes appliances.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,271
Cap Rate
6.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$645,420
$645.4K
Cap Rate 7%
$461,014
$461.0K
Cap Rate 9%
$358,567
$358.6K
Market Conditions
NOI Build-Up for 3,844 SF
Gross rent
$60.4K $15.72/SF
− Vacancy
−$1.8K −$0.46/SF
EGI
$58.7K $15.26/SF
− OpEx
−$26.4K −$6.87/SF
NOI
$32.3K $8.40/SF
Area
Edinburg, TX
Vacancy
2.90%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$645,420
Cap Rate 7%
$461,014
Cap Rate 9%
$358,567
Alternative Uses
Best Use
Apartment 5plus
$461.0K
$403.4K – $537.9K
NOI $32,271 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$997.4K
$872.7K – $1.16M
NOI $69,819 @ 7.0% cap · market cap 14.55%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
354
Businesses Nearby
Explore this area
Business Placement
Demographics for 78541, TX
48,513
Population
17,669
Households
2.7
Avg Household Size
28
Median Age
25%
College-Educated
77%
High-School Grad
290.2 sq mi
ZIP Area
167
Density / Sq Mi
$50,567
Median Household Income
$30,752
Median Earnings
$945
Median Rent
$142,600
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 - Luxury apartments near the University of Texas RGV.
Where is this apartment building located?
The property is located at 403 Pirul Street W Edinburg, TX.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Walking distance to the University of Texas RGV.; Enjoy your private fenced patio.; Includes appliances.
