1502 Diamond Ave

Beds
Baths
10,164 Sq. Ft.
$61 / Sq. Ft.
10,164
Sq. Ft.
$61
per Sq. Ft.

Description

Attention All Investors! Incredible investment opportunity to own a fully occupied/rented 8-plex! 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,...Attention All Investors! Incredible investment opportunity to own a fully occupied/rented 8-plex! 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 the perfect choice. Hurry and take advantage of this fantastic opportunity before it's gone!
  1. Listed by Marisol Q. Morris • TREC #801067430 • Berkshire Hathaway Homeservice

Property Details for 1502 Diamond Avenue

Community Features
None
Subdivision Name
Anadal
LISTING UPDATED: 01/17/2026 11:40 AM

Property Details for 1502 Diamond Avenue

StatusActive
MLS #492422
Days on Market22
Taxes$19,693 / year
HOA Fees-
Condo/Co-op Fees$2,760 / year
Compass TypeMulti Family
MLS TypeResidential Income / Multi Family
Year Built2003
Lot Size1.00 AC / 43,773 SF
CountyHidalgo County

Location

Listing Courtesy of Berkshire Hathaway Homeservice
Add your commute

Building Information for 1502 Diamond Avenue

Stories1Residences8Year Built2003Building Size-Lot Size1.00 AC / 43,773 SF

Payment Calculator

$4,893 per month

30 year fixed, 6.15% Interest

Principal and Interest

$3,022

Property Taxes

$1,641

HOA Dues

$230

The Payment Calculator is for illustrative purposes only.

Property Information for 1502 Diamond Avenue

Summary
Location and General Information
  • Directions: From Expressway 83 travel north on Tom Gill Rd to Diamond Ave, then turn left onto Diamond Ave.
  • Road Surface Type: Paved
Parking
  • Carport Spaces: 0.0
  • Carport YN: No
  • Covered Spaces: 0.0
  • Garage Spaces: 0.0
  • Garage: No
  • Parking Features: No Garage, Other Garage or Carport
  • Parking Total: 0.0
School Information
  • Elementary School: JFK
  • Elementary School District: La Joya ISD
  • High School: La Joya H.S.
  • High School District: La Joya ISD
  • Middle Or Junior School: Chavez
  • Middle Or Junior School District: La Joya ISD
Taxes and HOA
  • Association: No
  • Parcel Number: A493002000009A00
  • Tax Annual Amount: $19,693
  • Tax Legal Description: ANADAL NO. 2 LOT 9-A
  • Tax Year: 2023
Property
Lot Information
  • Building Area Source: Seller Measured
  • Building Area Total: 10164.0
  • Building Area Units: Square Feet
  • Living Area: 10164.0
  • Living Area Source: Seller Measured
  • Living Area Units: Square Feet
  • Lot Size Acres: 1.0049
  • Lot Size Area: 1.0049
  • Lot Size Square Feet: 43773.0084
  • Lot Size Units: Acres
Property and Assessments
  • New Construction: No
  • Year Built: 2003
  • Year Built Source: HCAD
  • Escrow: $7,000.00
Utilities
  • Irrigation Water Rights: No
  • Number Of Separate Water Meters: 8
  • Sewer: City Sewer
  • Water Source: Public
Mobile Home
Mobile Home Information
  • Home Warranty: No
Interior and Exterior Features
Exterior Features
  • Exterior Features: None
  • Fencing: Chain Link
  • Pool: No
  • Number Of Buildings: 1
  • Construction Materials: Brick
  • Other Structures: Outbuilding (None)
  • Roof: Shingle
  • Security Features: Smoke Detector(s)
  • Window Features: Energy Features (Double Pane Windows)
Interior Features
  • Appliances: Electric Water Heater, Refrigerator, Stove/Range
  • Cooling: Central Air, Electric
  • Cooling YN: Yes
  • Flooring: Tile
  • Heating: Central, Electric
  • Heating: Yes
  • Interior Features: Ceiling Fan(s)
  • Laundry Features: Laundry Area
  • Foundation Details: Slab
Multi Family
Income & Expenses
  • Gross Income: $82,500.00
  • Insurance Expense: $974.00
  • Maintenance Expense: $2,760.00
Multi-Family Information
  • Number Of Units In Community: 8
  • Number Of Units Total: 8
  • Other Expense: $1,584.00

Property History for 1502 Diamond Avenue

DateEvent & SourcePriceAppreciation
Jan 17, 2026

Listed (Active)

Greater McAllen Association of REALTORS #492422

$620,000
Jan 15, 2026

Withdrawn

Greater McAllen Association of REALTORS #457211

Jul 9, 2025

Price Change

Greater McAllen Association of REALTORS #457211

$699,000
Jan 17, 2025

Listed (Active)

Greater McAllen Association of REALTORS #457211

$799,000
Oct 29, 2024

Withdrawn

Greater McAllen Association of REALTORS #437639

May 13, 2024

Listed (Active)

Greater McAllen Association of REALTORS #437639

$975,000
DateEvent & SourcePrice
01/17/2026

Listed (Active)

Greater McAllen Association of REALTORS #492422

$620,000
01/15/2026

Withdrawn

Greater McAllen Association of REALTORS #457211

07/09/2025

Price Change

Greater McAllen Association of REALTORS #457211

$699,000
01/17/2025

Listed (Active)

Greater McAllen Association of REALTORS #457211

$799,000
10/29/2024

Withdrawn

Greater McAllen Association of REALTORS #437639

05/13/2024

Listed (Active)

Greater McAllen Association of REALTORS #437639

$975,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 1502 Diamond Avenue

This home is within La Joya Independent School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 8 to 12
Public - 9 to 12
Rating
School
Distance
John F Kennedy Elementary School
PublicPK to 5

Cesar Chavez Middle School
Public6 to 8

La Joya High School
Public8 to 12

Thelma Rosa Salinas STEM Early College
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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1502 Diamond Avenue is a multi-family home for sale in Penitas, TX 78576. This property was listed for sale on January 17, 2026 by Berkshire Hathaway Homeservice, it's currently listed at $620,000. This listing's school district is La Joya Independent School District. Nearby schools include John F Kennedy Elementary School, Cesar Chavez Middle School and La Joya High School. 1502 Diamond Avenue is a 0-bed, 0-bath, 10,164 sqft multi-family home built in 2003.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Berkshire Hathaway Homeservice

Based on information from one of the following Multiple Listing Services: GMAR MLS, South Texas MLS and Amarillo Association of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by GMAR MLS, South Texas MLS and Amarillo Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.