Well-Maintained 6-Plex in Penitas,
For Sale
Contact for pricing
18202 Washington Palm Drive, Penitas, TX 78576
Fully occupied 6-plex generating $4,500 monthly income.
Property Size4,536 SF
Price / SF$90.39
Days on Market749
Property Features for 18202 Washington Palm Drive
General Information
Standard status
Active
Size
4,536 SF
Property subtype
Multifamily
Building Details
Year Built
2004
Buildings
1
Units
6
Listing Agency:
Dean & Co. Realty
Listed By:
Marcelino Gonzalez
(346) 803-0054
Source:
Crexi
Added: Oct 4, 2024
Changed: Oct 3
Last Checked: Oct 20 at 5:57PM
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 Dean & Co. Realty
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 well-maintained 6-plex is located in Penitas, Texas. The property consists of 2-bedroom, 1-bath units. The building has a new roof. The property is fully occupied and generates $4,500 of monthly income. The property size is 4,536 square feet.
Key Highlights
- Generates $4,500 of monthly income.
- Fully occupied 6‑plex.
- New roof.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,521
Cap Rate
8.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$730,420
$730.4K
Cap Rate 7%
$521,729
$521.7K
Cap Rate 9%
$405,789
$405.8K
Market Conditions
NOI Build-Up for 4,536 SF
Gross rent
$75.1K $16.56/SF
− Vacancy
−$8.7K −$1.92/SF
EGI
$66.4K $14.64/SF
− OpEx
−$29.9K −$6.59/SF
NOI
$36.5K $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%
$730,420
Cap Rate 7%
$521,729
Cap Rate 9%
$405,789
Alternative Uses
Best Use
Apartment 5plus
$521.7K
$456.5K – $608.7K
NOI $36,521 @ 7.0% cap · market cap 8.91%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$3.42M
$2.99M – $3.99M
NOI $239,161 @ 7.0% cap · market cap 58.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
72
Businesses Nearby
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Business Placement
Demographics for 78576, TX
13,901
Population
3,362
Households
4.1
Avg Household Size
25
Median Age
6%
College-Educated
53%
High-School Grad
58.2 sq mi
ZIP Area
239
Density / Sq Mi
$48,205
Median Household Income
$21,962
Median Earnings
$629
Median Rent
$116,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied 6-plex generating $4,500 monthly income.
Where is this apartment building located?
The property is located at 18202 Washington Palm Drive Penitas, TX.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Generates $4,500 of monthly income.; Fully occupied 6‑plex.; New roof.
