For sale

$599,000

1502 Diamond Ave, Penitas, TX 78576

17beds

16baths

10,164sqft

$4,692/mo

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Multi Family

Built in 2003

-- sqft lot

$593,400 Zestimate^®

$59/sqft

$-- HOA

What's special

Attention All Investors! Incredible investment opportunity to own a fully occupied/rented 8-plex listed at $59 per sqft.! Located just north of U.S. 83 (I-2), is a well maintained 8-plex in the thriving area of Penitas, TX, with a proven rental history and steady income generation. This property features seven spacious 2-bedroom/2-bath units and one 3-bedroom/2-bath unit, which are all currently occupied (leased), ensuring immediate cash flow. Conveniently located near major roadways, shopping centers, and dining options, this 8-plex offers both a prime location and exceptional value. Whether you're looking to expand your portfolio or make a solid investment, this property is a growing and excellent location. Hurry and take advantage of this fantastic opportunity before it's gone!

136 days
41
15

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 17
Bathrooms: 16

Heating

Has Heating (Unspecified Type)

Cooling

Central Air, Electric

Appliances

Included: Electric Water Heater, Refrigerator, Stove/Range
Laundry: Laundry Area

Features

Ceiling Fan(s)
Flooring: Tile
Windows: Double Pane Windows

Interior area

Total structure area: 10,164
Total interior livable area: 10,164 sqft

Property

Parking

Total spaces: 2
Parking features: No Garage, Other Garage or Carport
Carport spaces: 2

Features

Exterior features: None
Fencing: Chain Link

Lot

Size: 1 Acres

Details

Additional structures: Outbuilding (None)
Parcel number: A493002000009A00

Construction

Type & style

Home type: MultiFamily
Property subtype: Multi Family

Materials

Brick
Foundation: Slab
Roof: Shingle

Condition

New construction: No
Year built: 2003

Utilities & green energy

Sewer: Public Sewer
Water: Public

Community & HOA

Community

Features: None
Security: Smoke Detector(s)
Subdivision: Anadal

HOA

Has HOA: No

Location

Region: Penitas

Financial & listing details

Price per square foot: $59/sqft
Annual tax amount: $19,693
Date on market: 5/27/2026
Road surface type: Paved

Estimated market value

$593,400

$564,000 - $623,000

$805/mo

Price history

Date	Event	Price
5/27/2026	Listed for sale	$599,000-3.4%$59/sqft
Source: Greater McAllen AOR #505572 Report a problem
5/19/2026	Listing removed	$620,000$61/sqft
Source: BHHS broker feed #492422 Report a problem
1/17/2026	Listed for sale	$620,000-11.3%$61/sqft
Source: Greater McAllen AOR #492422 Report a problem
7/9/2025	Price change	$699,000-12.5%$69/sqft
Source: Greater McAllen AOR #457211 Report a problem
1/17/2025	Listed for sale	$799,000-18.1%$79/sqft
Source: Greater McAllen AOR #457211 Report a problem
8/20/2024	Listing removed	$975,000$96/sqft
Source: Greater McAllen AOR #437639 Report a problem
5/14/2024	Listed for sale	$975,000+99.4%$96/sqft
Source: Greater McAllen AOR #437639 Report a problem
11/6/2017	Listing removed	$489,000$48/sqft
Source: RE/MAX elite #200894 Report a problem
12/21/2016	Listed for sale	$489,000-6%$48/sqft
Source: RE/MAX ELITE #200894 Report a problem
11/4/2016	Listing removed	$520,000$51/sqft
Source: RE/MAX ELITE #189667 Report a problem
2/23/2016	Listed for sale	$520,000$51/sqft
Source: RE/MAX ELITE #189667 Report a problem

Public tax history

Tax history is unavailable.

Monthly payment

Est. payment

Payment breakdown

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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included

All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.

HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.

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Climate risks

Neighborhood: 78576

Getting around

31 / 100

Car-Dependent

38 / 100

Somewhat Bikeable

Nearby schools

GreatSchools rating

7/10
John F Kennedy Elementary School
Grades: PK-5Distance: 0.3 mi
5/10
Cesar Chavez Middle School
Grades: 6-8Distance: 2.2 mi
3/10
La Joya High School
Grades: 9-12Distance: 1.6 mi

Schools provided by the listing agent

Elementary: JFK
Middle: Chavez
High: La Joya H.S.
District: La Joya ISD

Source: Greater McAllen AOR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.