Fully Occupied Multifamily Investment
For Sale
Contact for pricing
204 E Fourth Street, San Juan, TX 78589
Eight-unit complex with month-to-month leases near expressway and amenities.
Property Size5,200 SF
Price / SF$132.69
Days on Market674
Property Features for 204 E Fourth Street
General Information
Standard status
Active
Size
5,200 SF
Total Parking Spaces
16
Property subtype
Multifamily
Building Details
Year Built
2006
Buildings
2
Units
8
Listing Agency:
Monarca Real Estate Group LLC
Listed By:
Myrka Lopez
Source:
Crexi
Added: Oct 30, 2024
Changed: Aug 31
Last Checked: Aug 31 at 3:02PM
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 Monarca Real Estate Group LLC
Investment Insights
Based on property information with market context.
This established complex features eight fully occupied units. Each unit includes two bedrooms and one bathroom, and is equipped with a refrigerator, stove, washer, and dryer, all of which are included in the sale. The units are currently leased on a month-to-month basis, with rental rates ranging from $750 to $800. The property is located with easy access to the expressway and is close to shopping centers, restaurants, and schools. The property size is 5200 square feet.
Key Highlights
- Fully occupied 8‑unit complex provides immediate rental income.
- Each unit includes 2 bedrooms and 1 bath, complete with refrigerator, stove, washer, and dryer.
- All appliances convey with the sale.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$41,868
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$837,360
$837.4K
Cap Rate 7%
$598,114
$598.1K
Cap Rate 9%
$465,200
$465.2K
Market Conditions
NOI Build-Up for 5,200 SF
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.
Gross rent
$86.1K $16.56/SF
− Vacancy
−$10.0K −$1.92/SF
EGI
$76.1K $14.64/SF
− OpEx
−$34.3K −$6.59/SF
NOI
$41.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$837,360
Cap Rate 7%
$598,114
Cap Rate 9%
$465,200
Alternative Uses
Best Use
Apartment 5plus
$598.1K
$523.4K – $697.8K
NOI $41,868 @ 7.0% cap · market cap 6.07%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$3.92M
$3.43M – $4.57M
NOI $274,170 @ 7.0% cap · market cap 39.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
577
Businesses Nearby
Explore this area
Business Placement
Demographics for 78589, TX
38,987
Population
12,393
Households
3.1
Avg Household Size
32
Median Age
13%
College-Educated
62%
High-School Grad
25.5 sq mi
ZIP Area
1,529
Density / Sq Mi
$51,662
Median Household Income
$27,679
Median Earnings
$926
Median Rent
$112,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight-unit complex with month-to-month leases near expressway and amenities.
Where is this apartment building located?
The property is located at 204 E Fourth Street San Juan, TX.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Fully occupied 8‑unit complex provides immediate rental income.; Each unit includes 2 bedrooms and 1 bath, complete with refrigerator, stove, washer, and dryer.; All appliances convey with the sale.
