Weslaco Fourplex in Gated
For Sale
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304 Retama Lane, Weslaco, TX 78596
Fourplex in gated community with modern finishes and carports.
Property Size3,074 SF
Price / SF$139.56
Days on Market833
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Property Features for 304 Retama Lane
General Information
Standard status
Active
Size
3,074 SF
Total Parking Spaces
8
Property subtype
Multifamily
Building Details
Year Built
2022
Buildings
4
Units
4
Listing Agency:
Landin Realty
Listed By:
Cynthia Landin · License #0711270
(956) 436-5193
Source:
Crexi
Added: Jul 5, 2024
Changed: Oct 10
Last Checked: Oct 14 at 8:13PM
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 Landin Realty
Investment Insights
Based on property information with market context.
This fourplex is located in a gated multifamily subdivision in Weslaco. The Airport Heights fourplex features two units with two bedrooms and two bathrooms, and two units with one bedroom and one bathroom. The units have an open layout, modern flooring, granite countertops, modern lighting fixtures including recessed lighting, and sleek white cabinetry. Appliances are included. Carports are available. The property is fully leased and has professional property management in place as an option. The property size is 3,074 square feet. There are four side-to-side fourplexes available, which can be purchased individually or as a portfolio.
Key Highlights
- Fully leased fourplex with professional property management option
- Located in a gated multifamily subdivision (Airport Heights)
- Features a mix of unit sizes: 2 units with 2 bedrooms/2 baths and 2 units with 1 bedroom/1 bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,882
Cap Rate
6.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$537,640
$537.6K
Cap Rate 7%
$384,029
$384.0K
Cap Rate 9%
$298,689
$298.7K
Market Conditions
NOI Build-Up for 3,074 SF
Gross rent
$43.2K $14.04/SF
− Vacancy
−$4.8K −$1.55/SF
EGI
$38.4K $12.49/SF
− OpEx
−$11.5K −$3.75/SF
NOI
$26.9K $8.74/SF
Area
Hidalgo County, TX
Vacancy
11.02%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$537,640
Cap Rate 7%
$384,029
Cap Rate 9%
$298,689
Alternative Uses
Best Use
Multifamily LT 5
$384.0K
$336.0K – $448.0K
NOI $26,882 @ 7.0% cap · market cap 6.27%
Second Best
Apartment 5plus
$353.6K
$309.4K – $412.5K
NOI $24,750 @ 7.0% cap · market cap 5.77%
Theoretical Best
Hotel Hospitality
$2.32M
$2.03M – $2.70M
NOI $162,077 @ 7.0% cap · market cap 37.78%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
529
Businesses Nearby
Explore this area
Business Placement
Demographics for 78596, TX
37,329
Population
15,824
Households
2.4
Avg Household Size
36
Median Age
21%
College-Educated
75%
High-School Grad
40.1 sq mi
ZIP Area
931
Density / Sq Mi
$53,797
Median Household Income
$31,618
Median Earnings
$917
Median Rent
$92,800
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 - Fourplex in gated community with modern finishes and carports.
Where is this quadplex located?
The property is located at 304 Retama Lane Weslaco, TX.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Fully leased fourplex with professional property management option; Located in a gated multifamily subdivision (Airport Heights); Features a mix of unit sizes: 2 units with 2 bedrooms/2 baths and 2 units with 1 bedroom/1 bath
