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34352018
34352019

712 Toronto Ave., McAllen, TX 78501

Effective Real Estate
Effective Real Estate
Listed by Effective Real Estate
$700,000
1 day on market
Updated 1 day ago

McAllen 8 Unit Multi Family Opportunity

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 7,440
Units 8
Tenancy Vacant
Rent Bumps No
Pro-Forma Cap Rate 8.80%
Pro-Forma NOI $61,800
Price per SqFt $94
Lot Size (SqFt) 5,200
Investment Type Value Add

Multifamily | 8 Units | $87,500/unit

Marketing description

712 Toronto Avenue presents an attractive multifamily investment opportunity in a highly convenient McAllen location. This recently remodeled, eight-unit property is positioned just minutes from La Plaza Mall, Interstate 2, and the city's expanding medical district, placing residents near major employers, hospitals, shopping, dining, and essential services.

The property is currently vacant, giving a new owner the valuable opportunity to lease each unit with brand-new tenants of their choosing. Investors can establish their own screening standards, lease terms, rental rates, deposit requirements, and management procedures without inheriting below-market leases or existing tenant complications.

Recent renovations help reduce the need for significant upfront improvements and allow ownership to focus immediately on marketing, leasing, and stabilizing the property. With eight separate units, the asset offers diversified rental income while remaining manageable for a local investor or professional property-management company.

Its central location should appeal to a wide range of prospective tenants, including healthcare workers, young professionals, service-industry employees, and residents seeking easy access to central McAllen and the expressway.

712 Toronto Avenue offers a compelling combination of location, recent improvements, and lease-up potential. For an investor seeking a renovated multifamily property with the ability to build a fresh tenant base and create value through occupancy and professional management, this property is a strong opportunity worthy of consideration.

Investment highlights

  • Strong 8.8% Pro Forma Cap Rate
  • Competitive asking price
  • 8 x 2/2 units
  • Units have been remodeled
  • Prime Location By: La Plaza Mall, McAllen Medical, Expressway 2
  • Seller financing considered!

Listing Contacts

Effective Real Estate
Effective Real Estate
Listed by Effective Real Estate

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Zoning

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C-3 CommercialGeneral CommercialGeneral Business
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Last updated Apr 1, 2026 For deeper zoning details, reports are available at Zoneomics

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