Edinburg Fourplex Investment
1504 Prosperity Drive Edinburg, TX 78541
For Sale
Contact for pricing
Four 2-bed, 2-bath units near University, fully occupied.
Property Size3,536 SF
Price / SF$100.96
Days on Market896
Property Features for 1504 Prosperity Drive
General Information
- Standard status
- Active
- Size
- 3,536 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2003
Listing Agency:
Element Realty, LLC
Listed By:
Maria Guerra · License #TX
Source:
Crexi
Added: Feb 9, 2024
Changed: Jul 6
Last Checked: Jul 23 at 10:01AM
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 Element Realty, LLC
Investment Insights
Based on property information with market context.
This fourplex property, located in Edinburg, presents an investment opportunity. The property contains four units, each featuring two bedrooms and two bathrooms. The units are currently fully occupied. Its location offers rental potential, particularly due to its proximity to the University.
Key Highlights
- Fully occupied 4plex, generating immediate rental income.
- Prime Edinburg location.
- Four 2‑bed, 2‑bath units.
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 | $55.6k | $15.72 |
| − Vacancy | −$1.6k | −$0.46 |
| EGI | $54.0k | $15.26 |
| − OpEx | −$24.3k | −$6.87 |
| NOI | $29.7k | $8.40 |
3,536 SF · lease $15.72/SF/yr · vacancy 2.90% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$474.5K
$415.2K – $553.6K
NOI $33,218 @ 7.0% cap · market cap 9.30%
Second Best
Apartment 5plus
$424.1K
$371.1K – $494.8K
NOI $29,686 @ 7.0% cap · market cap 8.32%
Theoretical Best
Office A
$917.5K
$802.8K – $1.07M
NOI $64,225 @ 7.0% cap · market cap 17.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four 2-bed, 2-bath units near University, fully occupied.
Where is this quadplex located?
The property is located at 1504 Prosperity Drive Edinburg, TX.
What is the asking price?
The asking price for this property is $357,000.
What are key features of this property?
This property features: Fully occupied 4plex, generating immediate rental income.; Prime Edinburg location.; Four 2‑bed, 2‑bath units.
