Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    109 Chicago Ave McAllen, TX 78501

    For Sale
    $199,500

    Four-unit apartment building, renovated

    Property size:
    1,762 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional investment opportunity presents a renovated four-unit apartment building situated on a private street in McAllen, Texas. The property boasts a charming 3-bedroom, 2-bathroom home at the front and a rear building featuring one studio apartment and two one-bedroom units, each with a full bath and kitchenette, and independent entrances. Recent upgrades include a new roof, updated lighting, new water heaters, flooring, toilets, select plumbing lines, and modern window AC units and mini-splits. New cabinetry and fixtures enhance the property's appeal. The 1,762 square foot property sits on a 6,520.93 square foot lot and includes two buildings constructed in 1968. The property features a nice green common area patio with citrus trees and a private fence, along with two carports and additional parking for a third vehicle. Conveniently located off 2nd Street, it offers easy access to jogging trails, public transportation (Bus 83), and nearby amenities such as a Dollar Store and HEB. The property has one water meter and one electric meter. The zoning is RS. The seller possesses current and updated city permits for the remodeling work. Currently vacant for easy showing. This property offers multiple uses, from leasing as efficiencies to utilizing the front house as a primary residence and the rear building as a guest house, game room, or storage.

    Property Features for 109 Chicago Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    1,762 SF

    Building Details

    Year Built
    1968
    Buildings
    2
    Units
    4

    HighLights

    • $199,500 asking price.
    • Multifamily property with four units.
    • 1,762 square feet on a 6,520 square foot lot.
    • Two buildings built in 1968.
    • Located at 109 Chicago Avenue, McAllen, TX 78501.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    McAllen
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2205434
    Latitude
    26.198701

    Nearby Similar for Sale

    • $460,000
      3,024 SF

      Modern Triplex: Investment Opportunity

      Well-maintained triplex built in 2023 with immediate rental income.
      2208 Galveston Ave, McAllen, TX 78501
      View Details
    • $1,025,000
      8,493 SF

      Multi-Suite Commercial Property in McAllen

      High-visibility commercial property with warehouse space and income potential.
      1101 E Dallas Ave, McAllen, TX 78501
      View Details
    • $800,000
      4,963 SF

      McAllen Office Building For Sale

      Freestanding office building in North McAllen with two units.
      6316 N 10Th St, McAllen, TX 78504
      View Details
    • $949,000
      Pending

      Finished Office Space Near Nolana

      Spacious, high-end office ideal for legal or professional practices.
      1305 E Nolana Ave, McAllen, TX 78504
      View Details
    • $2,900,000
      7,890 SF

      Profitable Auto Shop on Trenton

      Fully operational oil and lube business on high-traffic Trenton Road.
      2600 Trenton Rd, McAllen, TX 78504
      View Details
    • $379,000
      2,349 SF

      McAllen Duplex Built in 2016

      Well-maintained duplex in McAllen, TX, with modern amenities and tenant occupancy.
      308 N 17Th St, McAllen, TX 78501
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Four-unit apartment building, renovated
    Where is this multifamily property located?
    The property is located at 109 Chicago Ave McAllen, TX.
    What is the asking price?
    The asking price for this property is $199,500.
    What are key features of this property?
    This property features: $199,500 asking price.; Multifamily property with four units.; 1,762 square feet on a 6,520 square foot lot.
    Request Owner's contact information
    109 Chicago Ave McAllen, TX 78501
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    109 Chicago Ave
    McAllen, TX 78501
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    109 Chicago Ave McAllen, TX 78501
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.