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6720 N 23rd Street, McAllen, TX 78504

McAllen
Local realty services provided by:CENTURY 21 Johnston Company
6720 N 23rd Street,McAllen, TX 78504
$1,800,000
  • - Beds
  • - Baths
  • 16,068 sq. ft.
  • Multi-family
  • Active
Listed by: rogelio vela
Office: vela commercial real estate
MLS#:515820
Source:TX_GMAR

Price summary

  • Price:$1,800,000
  • Price per sq. ft.:$112.02

About this home

Investment opportunity featuring a 16-unit multifamily asset with strong existing income and additional upside potential. The property consists of fifteen 2-bedroom, 2-bath units and one 1-bedroom, 1-bath unit. Six remodeled units lease for $985+ per month, nine units lease for $900+, and the 1-bedroom unit leases for $725. Reported gross rental income is $14,755 per month, or $177,060 annually, excluding laundromat revenue. Tenants pay their own electricity, while ownership covers water. Recent capital improvements include new asphalt, siding, roofs on both buildings, and fresh exterior paint, reducing near-term capital exposure. A newly remodeled on-site laundromat provides tenant convenience and an additional income stream. This income-producing asset offers immediate cash flow with further upside through continued interior renovations, rental growth, and ancillary income.

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Home facts

  • Year built:1980
  • Listing ID #:515820
  • Added:43 day(s) ago
  • Updated:November 03, 2026 at 06:46 PM

Rooms and interior

  • Flooring:Carpet, Laminate, Vinyl
  • Kitchen Description:Electric Water Heater, Refrigerator, Stove/Range-Electric Coil
  • Living area:16,068 sq. ft.

Heating and cooling

  • Cooling:Ceiling Fan(s), Central Air, Electric
  • Heating:Central, Electric
  • Central air:Yes

Structure and exterior

  • Roof:Shingle
  • Year built:1980
  • Building area:16,068 sq. ft.
  • Lot Features:Curb & Gutters, Sidewalks
  • Construction Materials:Brick, Siding
  • Exterior Features:Curb & Gutters, Sidewalks
  • Foundation Description:Slab

Schools

  • High school:Rowe H.S.
  • Middle school:Fossum
  • Elementary school:Garza

Utilities

  • Water:Electric Water Heater, Public Water
  • Sewer:City Sewer

Finances and disclosures

  • Price:$1,800,000
  • Price per sq. ft.:$112.02
  • Tax amount:$24,200

Features and amenities

  • Appliances:Refrigerator, Stove/Range-Electric Coil
  • Laundry features:Laundry Room
  • Amenities:Sidewalks, Street Lights

Parking

  • Parking description:Other Garage or Carport

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