Profitable Triplex Investment
For Sale
Contact for pricing
609 N St. Marie Avenue, Mission, TX 78574
Triplex with reliable rental income, spacious units, and new roof.
Property Size3,480 SF
Price / SF$90.52
Days on Market1077
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
Buildings
1
Units
3
Listing Agency:
Capital Advisors Real Estate Group
Listed By:
Jesus Gonzalez · License #787041
(786) 897-7002
Source:
Crexi
Added: Nov 11, 2023
Changed: Oct 15
Last Checked: Oct 20 at 6:41PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$28,019
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$560,380
$560.4K
Cap Rate 7%
$400,271
$400.3K
Cap Rate 9%
$311,322
$311.3K
Market Conditions
NOI Build-Up for 3,480 SF
Gross rent
$57.6K $16.56/SF
− Vacancy
−$6.7K −$1.92/SF
EGI
$50.9K $14.64/SF
− OpEx
−$22.9K −$6.59/SF
NOI
$28.0K $8.05/SF
Area
Hidalgo County, TX
Vacancy
11.60%
Lease Rate
$16.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$560,380
Cap Rate 7%
$400,271
Cap Rate 9%
$311,322
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 authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Explore this area
Business Placement
Demographics for 78574, TX
63,627
Population
18,309
Households
3.5
Avg Household Size
28
Median Age
16%
College-Educated
58%
High-School Grad
51.9 sq mi
ZIP Area
1,226
Density / Sq Mi
$52,536
Median Household Income
$28,029
Median Earnings
$807
Median Rent
$119,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
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.
