Profitable Triplex Investment
609 N St. Marie Avenue Mission, TX 78574
For Sale
Contact for pricing
Triplex with reliable rental income, spacious units, and new roof.
Property Size3,480 SF
Price / SF$90.52
Days on Market986
Property Features for 609 N St. Marie Avenue
General Information
- Standard status
- Active
- Size
- 3,480 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2004
Listing Agency:
Capital Advisors Real Estate Group
Listed By:
Jesus Gonzalez · License #787041
Source:
Crexi
Added: Nov 11, 2023
Changed: Jul 6
Last Checked: Jul 24 at 9:34AM
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 Capital Advisors Real Estate Group
Investment Insights
Based on property information with market context.
This property features three units, each generating $27,000 in gross annual income. All units are currently leased at $750 each and include 2 bedrooms and 1 bathroom. Each unit provides 1,100 sqft of living space. Spacious living rooms offer ample space for relaxation and entertainment. The kitchens are equipped with all appliances. The property has a newly redone roof and paint. This triplex offers the potential for a lucrative return on investment.
Key Highlights
- High Gross Annual Income: $27,000 generated from three units.
- Fully Leased Units: All units currently leased, providing immediate rental income.
- Spacious Units: Large 1,100 sqft 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 | $57.6k | $16.56 |
| − Vacancy | −$6.7k | −$1.92 |
| EGI | $50.9k | $14.64 |
| − OpEx | −$22.9k | −$6.59 |
| NOI | $28.0k | $8.05 |
3,480 SF · lease $16.56/SF/yr · vacancy 11.60% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$434.7K
$380.4K – $507.2K
NOI $30,432 @ 7.0% cap · market cap 9.66%
Second Best
Apartment 5plus
$400.3K
$350.2K – $467.0K
NOI $28,019 @ 7.0% cap · market cap 8.89%
Theoretical Best
Hotel Hospitality
$2.62M
$2.29M – $3.06M
NOI $183,483 @ 7.0% cap · market cap 58.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Triplex with reliable rental income, spacious units, and new roof.
Where is this triplex located?
The property is located at 609 N St. Marie Avenue Mission, TX.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: High Gross Annual Income: $27,000 generated from three units.; Fully Leased Units: All units currently leased, providing immediate rental income.; Spacious Units: Large 1,100 sqft units.
