1201 E Iris Avenue McAllen, TX $ 975,000
1201 E Iris Avenue
$ 975,000
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1201 E Iris Avenue

McAllen, TX, 78504
$ 975,000
Baths0.0 Sq 6,639

Monthly Estimate*

$ 6,156

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Studio

Multi-Family Home for sale in McAllen, TX

for $975,000. This 6,639 square foot home was built in 2024 on a lot size of 0.41.

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.

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Multi-Family Active

Price

$ 975,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 16,027

Style

Multi Family

Lot Size

0.41

Year Built

2024

Town/City

McAllen

County/Region

Hidalgo

MLS | Web ID

509959

Features
General
Sewer City Sewer
Possession Closing and Funding
HOA Fee 600
Property Subtype Multi Family
Tax Year 2025
Community Features Gated Sidewalks Street Lights
County Hidalgo
Property Type Residential Income
HOA true
Subdivision Name Park Terrace
Status Active
Directions Jackson & Jonquil - Go north Nolana and turn right to Jackson Rd. Drive one block and turn to Jonquil Ave. New Subdivision - Park Terrace.
High School Memorial H.S.
City McAllen
High School District McAllen ISD
Lot Size Units Square Feet
Lot Size Square Feet 17860.0356
Elementary School Milam
Tax Annual Amount 16027
Home Warranty Y/N false
Middle/Junior High School Cathey
Building Area Units Square Feet
Living Area Units Square Feet
Standard Status Active
Middle/Junior School District McAllen ISD
Elementary School District McAllen ISD
Legal Description PARK TERRACE LOT 58
Freehold BBO VOW IDX
Living Area 6639
Cooling Central Air Electric
Roof Shingle
Appliances Electric Water Heater Smooth Electric Cooktop Microwave Refrigerator
Garage Spaces 0
Construction Materials Stucco
Year Built 2024
Stories Count 1
Energy Efficient Thermostat
Garage Y/N false
Carport Spaces 8
Carport Y/N true
Year Built Source Builder
Heating Central Electric
Patio/Porch Features Patio
Assoc Fee Paid Per Annually
Association Name TBD
Insurance Expense 5000
Security Features Smoke Detector(s)
Other Structures Outbuilding (None)
Gross Income 100800
MaintenanceExpense 3000
Number Of Units Total 6
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Interior
Interior Amenities Ceiling Fan(s) Dryer Microwave Washer
Flooring Tile
Air Conditioning Y/N true
Heating Y/N true
Laundry Features Laundry Area Washer/Dryer Connection
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Exterior
Water Source Public
Lot Size Area 17860.0356
Lot Size Acres 0.41
Road Surface Type Paved
Irrigation Water Rights Y/N false
Fencing Wood
Exterior Amenities Other
Parking Features No Garage
Total Parking 8
Foundation Details Slab
Building Area Total 6639
Covered Spaces 8
Pool YN false
Number of Separate Water Meters 6
Number of Buildings 3
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* Excluded Features
List By
Winners Circle

Broker

Affordability Calculator

$7,492
Per Month
82%
18%
0%
Monthly Principal & Interest
$6,156
Monthly Property Taxes
$1,336
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
3057039 Elementary School
1204033 Middle School
Memorial H.S. High School High School
Pricing History
DatePricePrice ChangeDescription
7/18/2026$975,000 Listed Price

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1201 E Iris Avenue, McAllen, TX, 78504 is a Multi-Family Home for sale at $975,000 with 6,639 sqft and a lot size of 0.41. 1201 E Iris Avenue is a studio with 0.0 baths and was built in 2024. The property's zip code is 78504 which is in McAllen, TX