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    712 Toronto Ave McAllen, TX 78503
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    712 Toronto Ave McAllen, TX 78503

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    • Apartment buildings

    Property Details for 712 Toronto Ave

    Year built
    1980
    Property type
    Apartment buildings
    Property subtype
    Small apartment buildings

    Description

    This exceptional 8-unit apartment building, located at 712 W Toronto Avenue in McAllen, Texas, presents a compelling investment opportunity. Built in 1980, this single-building property sits on a 649.044 square foot lot and boasts a prime location just a short distance from the renowned La Plaza Mall, a major shopping center in the Rio Grande Valley encompassing over 1,300,000 square feet of retail space. Each of the eight units features two bedrooms and two bathrooms, and have undergone extensive renovations. Upgrades include new windows, door hardware, cabinets, countertops, tile flooring, recessed lighting, trim, and ceiling fans throughout. This turnkey property offers immediate income potential and is priced at $850,000. Seller financing is available, making this an attractive option for investors seeking a strong return on investment in a thriving market. The property's proximity to a major shopping destination ensures high occupancy rates and consistent rental income. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a desirable location. The property's strong rental history and recent renovations make it an ideal investment for both seasoned and new investors. The 78503 zip code offers a vibrant community and convenient access to local amenities. Don't miss this chance to secure a profitable investment in the heart of McAllen.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    McAllen
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2304
    Latitude
    26.1849

    Comparable in this City

    • Value Estimation by Request

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      3006 L Ln

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      5,220 SF

      24th St

      APARTMENT HOUSE (5+ UNITS) • 5,220 SF
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      4,904 SF

      2420 28th St

      APARTMENT HOUSE (5+ UNITS) • 4,904 SF
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    • Value Estimation
      $585,000
      12,994 SF

      2409 29th St

      APARTMENT HOUSE (5+ UNITS) • 12,994 SF
      2409 29th St, Mcallen, TX 78503-8046
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    • Value Estimation
      $560,000
      10,010 SF

      K Ctr St

      APARTMENT HOUSE (5+ UNITS) • 10,010 SF
      K Ctr St, Mcallen, TX 78503
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    Similar Nearby for Sale

    • $875,000

      Renovated Multifamily Property Near La Plaza

      Fully renovated 8-unit multifamily property near La Plaza Mall.
      712 W Toronto Ave, McAllen, TX 78503
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    • $600,000
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      McAllen Multifamily Investment Opportunity

      Four-unit multifamily property near La Plaza Mall in McAllen.
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      Fully Leased Multi-Unit Investment Property

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      McAllen Multi-Family Investment Property

      Four-unit property near La Plaza Mall in McAllen, Texas.
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    • $67,500
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      Land in McAllen, Texas

      Land for townhome community near airport, mall, and restaurants.
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    • $67,500
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      Land in McAllen, TX

      Land for townhome community near airport, mall, and restaurants.
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    Similar Nearby for Lease

    • $17 SF/Yr
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      McAllen Warehouse: Prime Location

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      Retail Spaces with Central Lawn

      Retail spaces available on a 25+ acre main street.
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      Restaurant Space Near La Plaza

      Restaurant space for rent in front of a major mall.
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      Prime Commercial Land for Lease

      Land available at a Walmart-anchored shopping center.
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    • $24 SF/Yr
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      Prime Retail Space in McAllen

      High-visibility retail space available in a busy McAllen center.
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    • $17 SF/Yr
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      Warehouse Space Near McAllen

      Prime McAllen warehouse, 2,025 sq ft.
      1917 Tanya Ave, McAllen, TX 78503
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    McAllen, TX 78503
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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