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Paseo Del Sol 2501 Hibiscus Ave 32 Unit Apartment Building $3,200,000 ($100,000/Unit) 7.32% Cap Rate McAllen, TX 78501
EXECUTIVE SUMMARY
Welcome to Paseo Del Sol apartment complex! Premier investment opportunity in the center of McAllen. This well-maintained 32-unit, two-story apartment community offers durable full-brick construction and paved covered parking encircling the property for added convenience and longevity. Each residence features a desirable 2-bedroom, 1-bathroom layout, consistently attracting long-term tenants and supporting strong operational performance. Currently 97% occupied, the asset reflects exceptional rental demand and a proven history of minimal vacancy. Its prime location places residents minutes from McAllen’s major retail corridors, entertainment districts, medical facilities, and key employment hubs further enhancing stability and future appreciation potential. With opportunities for rent optimization or interior value-add improvements, this property presents a compelling addition to a growing multifamily portfolio in one of South Texas’ most resilient markets.
PROPERTY FACTS
| Price | $3,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $100,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.75 AC |
| Cap Rate | 7.32% | Building Size | 27,136 SF |
| Gross Rent Multiplier | 9.25 | Average Occupancy | 97% |
| No. Units | 32 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1994 |
| Property Subtype | Apartment | Parking Ratio | 2.36/1,000 SF |
| Zoning | Multi Family - Multi Family | ||
| Price | $3,200,000 |
| Price Per Unit | $100,000 |
| Sale Type | Investment |
| Cap Rate | 7.32% |
| Gross Rent Multiplier | 9.25 |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.75 AC |
| Building Size | 27,136 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1994 |
| Parking Ratio | 2.36/1,000 SF |
| Zoning | Multi Family - Multi Family |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Views
SITE AMENITIES
- Picnic Area
- Playground
- Breakfast/Coffee Concierge
- Grill
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 32 | - | 848 - 850 |
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Paseo Del Sol | 2501 Hibiscus Ave
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