Turnkey Fourplex in Gated
For Sale
$535,000
905 E Myrtle Beach Avenue, McAllen, TX 78503
MULTI_FAMILY - McAllen, TX
Property Size4,320 SF
Lot Size0.24 Acres
Price / SF$123.84
Days on Market49
Property Features for 905 E Myrtle Beach Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Patio and Porch features
Patio
Exterior features
Sprinkler System
Appliances
Water Heater (Other), Microwave, Refrigerator, Stove/Range-Electric Smooth
Subdivision
The Heights At Mccoll
Lot features
Professional Landscaping, Sidewalks
Elementary school
Palmer
Middle school
Kennedy
High school
PSJA H.S.
Elementary school district
PSJA ISD
Middle school district
PSJA ISD
High school district
PSJA ISD
Directions
-
Standard status
Active
APN
H196500000012600
Size
4,320 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
14378
HOA Fee
$600 Annually
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2018
Floors in Building
1
Number of units
4
Roof type
Shingle
Listing Agency:
BIG Realty
(956) 465-0011
Listed By:
Victor Fuentes · License #574075
(956) 432-1351
Added: Jun 25
Last Checked: Aug 12 at 7:06AM
MLS# 508028
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 property is a fully stabilized fourplex built in 2018, totaling 4,320 square feet. All four units are leased and described as performing, supporting a turnkey income setup. Each unit has its own electric and water meters, helping keep utilities billed separately from the owner’s expenses. Interior finishes include durable porcelain tile, ceiling fans, and in-unit washer/dryer connections, along with gas and electric ranges.
Located at 905 E Myrtle Beach Avenue in McAllen, Texas, the fourplex sits on a 0.2376-acre lot within a clean, gated community. The remarks indicate direct access to major McAllen corridors, positioning the property for everyday convenience.
For tenants, the unit mix and included amenities such as laundry hookups, ceiling fans, and ranges can support day-to-day livability while helping reduce turnover. For investors or buyers, the stated configuration features individually metered utilities and a fully leased, stabilized occupancy profile, presented with rent roll and financials available on request.
Located at 905 E Myrtle Beach Avenue in McAllen, Texas, the fourplex sits on a 0.2376-acre lot within a clean, gated community. The remarks indicate direct access to major McAllen corridors, positioning the property for everyday convenience.
For tenants, the unit mix and included amenities such as laundry hookups, ceiling fans, and ranges can support day-to-day livability while helping reduce turnover. For investors or buyers, the stated configuration features individually metered utilities and a fully leased, stabilized occupancy profile, presented with rent roll and financials available on request.
Key Highlights
- Fully stabilized 4‑plex with all four units leased
- Built in 2018; approx. 4,320 sq ft low‑maintenance construction
- 7.6% CAP rate per provided remarks
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,035
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$780,700
$780.7K
Cap Rate 7%
$557,643
$557.6K
Cap Rate 9%
$433,722
$433.7K
Market Conditions
NOI Build-Up for 4,320 SF
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.
Gross rent
$59.6K $13.80/SF
− Vacancy
−$3.9K −$0.89/SF
EGI
$55.8K $12.91/SF
− OpEx
−$16.7K −$3.87/SF
NOI
$39.0K $9.04/SF
Area
McAllen, TX
Vacancy
6.46%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$780,700
Cap Rate 7%
$557,643
Cap Rate 9%
$433,722
Alternative Uses
Best Use
Multifamily LT 5
$557.6K
$487.9K – $650.6K
NOI $39,035 @ 7.0% cap · market cap 7.30%
Second Best
Apartment 5plus
$512.5K
$448.4K – $597.9K
NOI $35,874 @ 7.0% cap · market cap 6.71%
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,115 @ 7.0% cap · market cap 15.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
204
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased fourplex built in 2018 with individual electric and water meters and in-unit laundry hookups.
Where is this quadplex located?
The property is located at 905 E Myrtle Beach Avenue McAllen, TX.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Fully stabilized 4‑plex with all four units leased; Built in 2018; approx. 4,320 sq ft low‑maintenance construction; 7.6% CAP rate per provided remarks
