1201 E IRIS AVENUE, MCALLEN, TX 78504
Homes for sale in Mcallen.
Homes for sale in 78504.
List Price$975,000
1201 E Iris Avenue
McAllen, TX 78504
Listing #509959
6,639
Square Feet
6
Number of Units
Multi-Unit Residential
Type
About This Property
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 Features
Location Information
County
Hidalgo
Directions
Jackson & Jonquil - Go north Nolana and turn right to Jackson Rd. Drive one block and turn to Jonquil Ave. New Subdivision - Park Terrace.
Subdivision
Park Terrace
Interior Features
Interior
Ceiling Fan(s), Dryer, Microwave, Washer
Laundry
Laundry Area, Washer/Dryer Connection
Heating
Central, Electric
Appliances
Electric Water Heater, Smooth Electric Cooktop, Microwave, Refrigerator
Cooling
Central Air, Electric
Total Number of Units
6
Floors
Tile
Features
Gated, Sidewalks, Street Lights
Exterior Features
Construction
Stucco
Garage Spaces
0
Exterior
Other
Parking Spaces
8
Foundation
Slab
Fencing
Wood
Roof
Shingle
Patio / Deck Description
Patio
Possession
Closing and Funding
Lot Size in Acres
0.41
Septic or Sewer
City Sewer
Lot Size in Sq. Ft.
17,860
Water
Public
Buildings
Outbuilding (None)
Security Features
Smoke Detector(s)
Energy Features
Thermostat
Parking Description
No Garage
Road Description
Paved
School
Elementary School District
McAllen ISD
Middle School
Cathey
Elementary School
Milam
High School
Memorial H.S.
Additional Information
Is a Gated Community
Yes
Units in Complex
6
Property Type
RI
HOA Fee
$600
Property SubType
Multi Family
HOA Frequency
Annually
Year Built
2024
Taxes
16027
APN
P375800000005800
Tax Year
2025
Status
Active
Square Feet Source
Blue Prints
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Mortgage Calculator
$4,552
per month
30 Year Fixed. 3.52% Interest Rate.
Principal + Interest
$3,513
Monthly Tax
$812
Monthly Insurance
$227
yrs
%
$
$
Based on a fully amortized fixed rate loan. Ask your agent for the tax rates in your area. Insurance estimate is based on an average cost, your final premium cost will be determined by the type of coverage you select. This program only provides an estimate.
Schools
Walk Score
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