Edinburg Fourplex Investment
1618 Tampa Street Edinburg, TX 78541
1618 Tampa Street, Edinburg, TX, 78541
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For Sale
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Well-maintained fourplex in Edinburg, Texas with strong investment potential.
Property Size3,784 SF
Price / SF$101.41
Days on Market706
Property Features for 1618 Tampa Street
General Information
- Standard status
- Active
- Size
- 3,784 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2004
Listing Agency
Icon Realty STX
Listed by
Christopher Garcia
Source
Crexi
Added: Aug 13, 2024 Checked: Jul 19 at 2:30 am
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 Icon Realty STX
Investment Insights
Based on property information with market context.
Located in Edinburg, Texas, this fourplex presents an investment opportunity. The property contains four units, each featuring 2 bedrooms and 2 full bathrooms. The property has been freshly painted inside and out. The fourplex is situated in a neighborhood with proximity to schools, shopping centers, dining options, and major highways. The property size is 3784 square feet. All units are currently occupied.
Key Highlights
- Excellent return on investment as a fourplex.
- Located in a highly sought‑after area of Edinburg, Texas.
- Each unit has 2 bedrooms and 2 full bathrooms.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.5k | $15.72 |
| − Vacancy | −$1.7k | −$0.46 |
| EGI | $57.8k | $15.26 |
| − OpEx | −$26.0k | −$6.87 |
| NOI | $31.8k | $8.40 |
3,784 SF · lease $15.72/SF/yr · vacancy 2.90% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$507.8K
$444.4K – $592.5K
NOI $35,548 @ 7.0% cap · market cap 9.26%
Second Best
Apartment 5plus
$453.8K
$397.1K – $529.5K
NOI $31,768 @ 7.0% cap · market cap 8.28%
Theoretical Best
Office A
$981.9K
$859.1K – $1.15M
NOI $68,730 @ 7.0% cap · market cap 17.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Well-maintained fourplex in Edinburg, Texas with strong investment potential.
Where is this quadplex located?
The property is located at 1618 Tampa Street Edinburg, TX.
What is the asking price?
The asking price for this property is $383,750.
What are key features of this property?
This property features: Excellent return on investment as a fourplex.; Located in a highly sought‑after area of Edinburg, Texas.; Each unit has 2 bedrooms and 2 full bathrooms.
