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16,068 sqft

$1,800,000

6720 N 23rd Street, McAllen, Mc Allen TX, 78504

Price per sqft$112.02
Built in1980
Property size16,068 sqft
Property typeCondominium

Overview

Active

Listed Sep 21, 2026

Updated 4 weeks ago

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.

$11,975/mo

Est. mortgage payment based on a $1,800,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
515820

Interior Features

Cooling
Yes
Heating
Yes
Basement
No

Exterior Features

Lot Size
0.53 Acres

Other Property Details

Taxes
$24,200
Tax Frequency
Annually
Maintenance Expense
$780
MLS provider logo

Listed by Rogelio Vela with Vela Commercial Real Estate
Listing Contact: 956-575-7843 

The IDX display contains information sourced from the Greater McAllen Association of REALTORS® as of 9/22/2026. This data is intended solely for personal, non-commercial use and is not to be utilized for any other purposes except to identify potential properties for purchase. Although the MLS data displayed is typically considered reliable, it is not guaranteed to be accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and are advised to conduct their own investigations or seek professional assistance. Other sources besides the Listing Agent may have contributed to the MLS data presented. Unless expressly specified in writing, the Broker/Agent has not confirmed any information obtained from external sources. The Broker/Agent may or may not have acted as the Listing and/or Selling Agent and cannot guarantee the accuracy of property locations displayed on any map. Any compensation offers are solely made to participants of the MLS where the listing is registered.

©2026 the Greater McAllen Association of REALTORS® all rights reserved.

Data last updated on 9/22/2026 at 2:38 AM UTC

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