Edinburg Multifamily Investment
For Sale
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1907 Jason Avenue, Edinburg, TX 78539
Five 4-plexes near UTRGV, ideal for investors.
Property Size14,025 SF
Price / SF$117.29
Days on Market708
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Property Features for 1907 Jason Avenue
General Information
Standard status
Active
Size
14,025 SF
Total Parking Spaces
30
Property subtype
Multifamily
Building Details
Year Built
1993
Buildings
5
Units
20
Listing Agency:
RE/MAX Integrity
Listed By:
Carlos Cordova
Source:
Crexi
Added: Nov 6, 2024
Changed: Oct 5
Last Checked: Oct 14 at 11:28PM
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 RE/MAX Integrity
Investment Insights
Based on property information with market context.
This listing features five well-maintained 4-plexes, totaling 20 units. Each unit includes 1 bedroom and 1 bathroom, with just over 700 square feet of living space. The properties are located in Edinburg, near the intersection of Sugar Rd. and Sprague, providing convenient access to UTRGV, shopping and dining on University Dr., and Edinburg Bicentennial Park. This investment opportunity is suited for capitalizing on the demand for housing in the area. The proximity to UTRGV makes these 4-plexes an option for college students, potentially ensuring occupancy and rental income. The property size is 14025 square feet.
Key Highlights
- Portfolio of five 4‑plexes (20 units total) offers a significant investment opportunity.
- Prime location in Edinburg, near Sugar Rd. and Sprague, provides easy access to amenities.
- Proximity to UTRGV ensures consistent occupancy and rental income from students.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$131,756
Cap Rate
8.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,635,120
$2.6M
Cap Rate 7%
$1,882,229
$1.9M
Cap Rate 9%
$1,463,956
$1.5M
Market Conditions
NOI Build-Up for 14,025 SF
Gross rent
$193.5K $13.80/SF
− Vacancy
−$5.3K −$0.38/SF
EGI
$188.2K $13.42/SF
− OpEx
−$56.5K −$4.03/SF
NOI
$131.8K $9.39/SF
Area
Edinburg, TX
Vacancy
2.75%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,635,120
Cap Rate 7%
$1,882,229
Cap Rate 9%
$1,463,956
Alternative Uses
Best Use
Multifamily LT 5
$1.88M
$1.65M – $2.20M
NOI $131,756 @ 7.0% cap · market cap 8.01%
Second Best
Apartment 5plus
$1.68M
$1.47M – $1.96M
NOI $117,744 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$3.64M
$3.18M – $4.25M
NOI $254,739 @ 7.0% cap · market cap 15.49%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
760
Businesses Nearby
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Business Placement
Demographics for 78539, TX
37,686
Population
15,759
Households
2.4
Avg Household Size
34
Median Age
37%
College-Educated
84%
High-School Grad
12.2 sq mi
ZIP Area
3,089
Density / Sq Mi
$64,864
Median Household Income
$38,413
Median Earnings
$1,034
Median Rent
$198,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Five 4-plexes near UTRGV, ideal for investors.
Where is this quadplex located?
The property is located at 1907 Jason Avenue Edinburg, TX.
What is the asking price?
The asking price for this property is $1,645,000.
What are key features of this property?
This property features: Portfolio of five 4‑plexes (20 units total) offers a significant investment opportunity.; Prime location in Edinburg, near Sugar Rd. and Sprague, provides easy access to amenities.; Proximity to UTRGV ensures consistent occupancy and rental income from students.
