$1,275,000

408 E Ulex Ave McAllen, TX 78504

Estimated payment $8,446/month

Total Views 1,669
-- Bed
-- Bath
10,376 Sq Ft
$123 Price per Sq Ft

Highlights

  • Mature Trees
  • Corner Lot
  • Walk-In Closet
  • Gonzalez Elementary School Rated A
  • No HOA
  • Laundry closet

About This Home

Exceptional investment opportunity in the heart of McAllen! This well-maintained 12-plex located at 408 Ulex Ave is the perfect addition to any investor’s portfolio. Each unit offers comfortable living spaces and is designed for easy maintenance and consistent rental income. The property is located in a high-demand rental area, close to shopping centers, schools, restaurants, and major roadways—making it ideal for long-term tenants.
The complex features a solid rental history and water is included, simplifying management and reducing tenant turnover. With McAllen’s growing rental market and strong economic stability, this property offers the potential for excellent cash flow and appreciation. Whether you’re a seasoned investor or just starting out, this 12-unit property presents a rare opportunity to own a multi-family complex in one of the Valley’s most desirable areas.

Listing Agent

Norma Elizondo

Red Door Real Estate Services Listed on: 11/03/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $21,188

Year Built

  • Built in 2000

Lot Details

  • 0.6 Acre Lot
  • Corner Lot
  • Mature Trees

Home Design

  • Brick Exterior Construction
  • Slab Foundation
  • Shingle Roof

Interior Spaces

  • Walk-In Closet
  • 10,376 Sq Ft Home
  • 1-Story Property
  • Ceiling Fan
  • Tile Flooring
  • Fire and Smoke Detector
  • Stove

Laundry

  • Laundry closet
  • Dryer
  • Washer

Parking

  • Garage
  • Side Facing Garage

Schools

  • Gonzalez Elementary School
  • Cathey Middle School
  • Memorial High School

Utilities

  • Central Heating and Cooling System
  • Water Heater

Listing and Financial Details

  • Assessor Parcel Number V417000000002100

Community Details

Overview

  • No Home Owners Association
  • 4 Buildings
  • 12 Units
  • Violet Terrace Subdivision

Building Details

  • Gross Income $107,520

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$21,188

Year Built

Built in 2000

Lot Details

0

Listing Details

  • Directions: Head north on N 10th St toward W Nolana Ave, Turn right at the 1st cross street onto W Nolana Ave, Turn left onto N C St/N Chai/N Chai C St, Turn right onto E Ulex Ave, Complex will be in the corner to your Right
  • Year Built: 2000
  • Property Sub Type: Multi Family
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.5974
  • Road Surface Type: Paved
  • Subdivision Name: Violet Terrace
  • Carport Y N: No
  • Garage Yn: No
  • Efficiency: None
  • Building Stories: 1
  • Special Features: None
  • Stories: 1

Interior Features

  • Roof: Shingle
  • Appliances: Water Heater (Other Location), Dryer, Refrigerator, Stove/Range, Washer
  • Flooring: Tile
  • Living Area: 10376

Exterior Features

  • Exterior Features: Mature Trees
  • Interior Amenities: Ceiling Fan(s), Dryer, Walk-In Closet(s), Washer
  • Fencing: None
  • Lot Features: Corner Lot, Sidewalks
  • Home Warranty: No
  • Construction Type: Brick
  • Foundation Details: Slab
  • Other Structures: Outbuilding (None)
  • Pool YN: No

Garage/Parking

  • Parking Features: Garage Faces Side

Utilities

  • Laundry Features: Laundry Closet
  • Security: Smoke Detector(s)
  • Cooling: Central Air
  • Cooling Y N: Yes
  • Heating: Central
  • Heating Yn: Yes
  • Sewer: City Sewer

Condo/Co-op/Association

  • Community Features: None, Sidewalks, Street Lights
  • Association: No

Schools

  • Elementary School: Gonzalez
  • High School: Memorial H.S.
  • Junior High Dist: McAllen ISD
  • Middle Or Junior School: Cathey

Lot Info

  • Lot Size Sq Ft: 26023.1796
  • Parcel #: V417000000002100

Building Info

  • Buildings: 4

Tax Info

  • Tax Year: 2025
  • Tax Annual Amount: 21188

Multi Family

  • Number Of Units In Community: 12
  • Number Of Units Total: 12
  • Annual Gross Income: 107520

Map

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $25,072 $903,510 $234,189 $669,321
2024 $25,072 $1,069,107 $234,189 $834,918
2023 $22,001 $935,132 $231,587 $703,545
2022 $20,244 $816,342 $231,587 $584,755
2021 $17,188 $672,805 $231,587 $441,218
2020 $17,285 $677,572 $231,587 $445,985
2019 $13,313 $524,848 $78,863 $445,985
2018 $12,048 $474,224 $78,863 $395,361
2017 $11,587 $454,302 $43,419 $410,883
2016 $11,352 $445,080 $43,419 $401,661
2015 $10,718 $414,265 $35,444 $378,821
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/12/2025 11/12/25 For Rent $900 0.0% --
11/03/2025 11/03/25 For Sale $1,275,000 -- $123 / Sq Ft
Source: Greater McAllen Association of REALTORS®

Source: Greater McAllen Association of REALTORS®

MLS Number: 485865

Greater McAllen Association of REALTORS®

APN: V4170-00-000-0021-00

Texas Hidalgo County McAllen 78504

408 E Ulex Ave, McAllen, TX

For Sale

MultiFamily

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Greater McAllen Association of REALTORS® 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.

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Nearby Homes
Norma Elizondo
Listing Agent
Norma Elizondo
Section Image
Red Door Real Estate Services
(956) 539-3501