Fully Leased Fourplex in Gated
New
For Sale
$535,000
905 E Myrtle Beach Avenue McAllen, McAllen, TX 78503
Built in 2018, this fourplex has all units leased and individually metered for electric and water.
Property Size4,320 SF
Price / SF$123.84
Days on Market7
Property Features for 905 E Myrtle Beach Avenue McAllen
General Information
Standard status
Active
Size
4,320 SF
Property subtype
Quadruplex
Occupancy
100%
Additional Details
Cap Rate
7.6%
Multifamily Units
4
Amenities
gated community
Building Details
Building Size
4,320 SF
Year Built
2018
Listing Agency:
BIG Realty
(956) 465-0011
Listed By:
Victor Fuentes · License #574075
Source:
Primeluxuryrealestate
Added: Jul 27
Changed: Jul 28
Last Checked: Aug 1 at 10:51AM
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 BIG Realty
Investment Insights
Based on property information with market context.
This fully stabilized fourplex was built in 2018 and offers a turnkey setup with all four units currently leased. Each unit is individually metered for electric and water, helping separate utility responsibility and supporting consistent operating structure. The property is situated within a gated community and is designed for low-maintenance ownership.
In-unit features include porcelain tile flooring, ceiling fans, and washer/dryer connections. Kitchens include both gas and electric range options, and unit layouts support straightforward resident use and amenity-forward living.
Located at 905 E Myrtle Beach Avenue in McAllen, the building provides direct access to major McAllen corridors and fits well for an investor seeking an income-producing, near-new multifamily asset with minimal vacancy risk. Rent roll and financials are available upon request.
In-unit features include porcelain tile flooring, ceiling fans, and washer/dryer connections. Kitchens include both gas and electric range options, and unit layouts support straightforward resident use and amenity-forward living.
Located at 905 E Myrtle Beach Avenue in McAllen, the building provides direct access to major McAllen corridors and fits well for an investor seeking an income-producing, near-new multifamily asset with minimal vacancy risk. Rent roll and financials are available upon request.
Key Highlights
- Fully stabilized fourplex with all four units leased
- Built in 2018 with approximately 4,320 sq ft of living space
- Each unit is individually metered for electric and water
Financial Insights For Multifamily LT 5
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 | $59.6k | $13.80 |
| − Vacancy | −$3.9k | −$0.89 |
| EGI | $55.8k | $12.91 |
| − OpEx | −$16.7k | −$3.87 |
| NOI | $39.0k | $9.04 |
4,320 SF · lease $13.80/SF/yr · vacancy 6.46% · expense 30.00%
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
Current Use
Lease Details
4
Residential units
100%
Occupancy
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 - Built in 2018, this fourplex has all units leased and individually metered for electric and water.
Where is this quadplex located?
The property is located at 905 E Myrtle Beach Avenue McAllen 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 fourplex with all four units leased; Built in 2018 with approximately 4,320 sq ft of living space; Each unit is individually metered for electric and water
