1201 E Iris Ave McAllen, TX 78504
McAllen AreaEstimated payment $6,560/month
Highlights
- Gated Community
- Patio
- Tile Flooring
- Milam Elementary School Rated A
- Laundry closet
- Central Heating and Cooling System
About This Home
Excellent investment opportunity in McAllen's newest multifamily subdivision, Park Terrace! This modern 6-unit apartment complex is ideally located at the corner of Nolana Avenue and Jackson Road, offering exceptional access to the area's top employers, shopping, and dining. Just 4 minutes from Doctors Hospital at Renaissance, 4 minutes from Expressway 281, and minutes from major retail and entertainment destinations, this property is perfectly positioned for strong rental demand.
The property features an ideal unit mix of (3) 3-bedroom, 2-bath units and (3) 2-bedroom, 2-bath units. Each unit includes a refrigerator, stove, and microwave, providing added convenience for tenants. Built just 2 years ago, this newer construction offers modern finishes, low maintenance, and an excellent opportunity for investors seeking a quality, income-producing asset in one of McAllen's fastest-growing areas.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $16,027
Year Built
- Built in 2024
Lot Details
- 17,860 Sq Ft Lot
- Wood Fence
HOA Fees
- $50 Monthly HOA Fees
Home Design
- Slab Foundation
- Shingle Roof
- Stucco
Interior Spaces
- 6,639 Sq Ft Home
- 1-Story Property
- Ceiling Fan
- Tile Flooring
- Fire and Smoke Detector
Kitchen
- Electric Cooktop
- Microwave
Laundry
- Laundry closet
- Dryer
- Washer
Parking
- 8 Carport Spaces
- No Garage
Schools
- Milam Elementary School
- Cathey Middle School
- Memorial High School
Utilities
- Central Heating and Cooling System
- Electric Water Heater
Additional Features
- Energy-Efficient Thermostat
- Patio
Listing and Financial Details
- Assessor Parcel Number P375800000005800
Community Details
Overview
- 3 Buildings
- 6 Units
- Park Terrace Subdivision
Building Details
- Insurance Expense $5,000
- Maintenance Expense $3,000
- Gross Income $100,800
Security
- Gated Community
Map
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/18/2026 07/18/26 | For Sale | $975,000 | -- | $147 / Sq Ft |
Source: Greater McAllen Association of REALTORS®
MLS Number: 509959
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of Greater McAllen Association of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information deemed reliable but not guaranteed.
Copyright 2026 Greater McAllen Association of Realtors. All rights reserved.
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Ask me questions while you tour the home.