Edinburg Fourplex Investment
For Sale
Contact for pricing
1618 Tampa Street, Edinburg, TX 78541
Well-maintained fourplex in Edinburg, Texas with strong investment potential.
Property Size3,784 SF
Price / SF$101.41
Days on Market798
Property Features for 1618 Tampa Street
General Information
Standard status
Active
Size
3,784 SF
Total Parking Spaces
2
Property subtype
Multifamily
Building Details
Year Built
2004
Buildings
2
Units
4
Listing Agency:
Icon Realty STX
Listed By:
Christopher Garcia
Source:
Crexi
Added: Aug 13, 2024
Changed: Oct 9
Last Checked: Oct 16 at 6:09AM
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
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,768
Cap Rate
8.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,360
$635.4K
Cap Rate 7%
$453,829
$453.8K
Cap Rate 9%
$352,978
$353.0K
Market Conditions
NOI Build-Up for 3,784 SF
Gross rent
$59.5K $15.72/SF
− Vacancy
−$1.7K −$0.46/SF
EGI
$57.8K $15.26/SF
− OpEx
−$26.0K −$6.87/SF
NOI
$31.8K $8.40/SF
Area
Edinburg, TX
Vacancy
2.90%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,360
Cap Rate 7%
$453,829
Cap Rate 9%
$352,978
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 authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
Explore this area
Business Placement
Demographics for 78541, TX
48,513
Population
17,669
Households
2.7
Avg Household Size
28
Median Age
25%
College-Educated
77%
High-School Grad
290.2 sq mi
ZIP Area
167
Density / Sq Mi
$50,567
Median Household Income
$30,752
Median Earnings
$945
Median Rent
$142,600
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 - 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.
