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2129 16th Street

Corpus Christi, TX 78404
  • $395,000
  • STATUS: Active
  • ON SITE: 35 Days
  • MLS #: 449089
UPDATED: 52 min ago
$395,000
  • 0
    BEDS
  • 0.22
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,360
    SQFT
  • $118
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1961
County:

School Information

Elementary School:
Middle School:
High School:
Ray
School District:

Description

This recently renovated 4-plex in the heart of Corpus Christi is a prime investment opportunity. Each unit features generous-sized rooms, washer/dryer hookups, and updated interiors, making it a desirable rental property with a 95% occupancy rate. With a current rent roll of $3,900 and a pro forma of $4,200, this property offers strong cash flow with room for growth. There are additional value-add opportunities, such as an exterior paint upgrade and implementing a RUBS (Ratio Utility Billing System), further boosting your return. Plus, there's potential to convert the back storage space into a 5th unit. This property is perfect for FHA buyers, offering a 3.5% down payment option to live in one unit while renting out the others. For investors, 1031 exchange and DSCR loan options are also available. This is part of a larger portfolio with multifamily options ranging from duplexes to 10-plexes. Contact us for information on other available properties in Corpus Christi and San Antonio.

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© 2024 Coastal Bend Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or South Coast Real Estate, LLC. Data last updated: 2024-11-08T09:52:43.1.
www.southcoasttexas.com/homes/156299675
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2129 16th Street Corpus Christi, TX 78404

  • Price: $395,000
  • Status: Active
  • On Site: 35 Days
  • Updated: 52 min ago
  • MLS #: 449089
0
Beds
0
Baths
0
½ Baths
0.22
Acres
3,360
SQFT
$118
$/SQFT
1961
Built
Neighborhood:
P A Cliffs
County:
Nueces
Area:
Corpus Christi
Elementary School:
Menger
Middle School:
Baker
High School:
Ray
School District:
Corpus Christi Isd
Property Description
This recently renovated 4-plex in the heart of Corpus Christi is a prime investment opportunity. Each unit features generous-sized rooms, washer/dryer hookups, and updated interiors, making it a desirable rental property with a 95% occupancy rate. With a current rent roll of $3,900 and a pro forma of $4,200, this property offers strong cash flow with room for growth. There are additional value-add opportunities, such as an exterior paint upgrade and implementing a RUBS (Ratio Utility Billing System), further boosting your return. Plus, there's potential to convert the back storage space into a 5th unit. This property is perfect for FHA buyers, offering a 3.5% down payment option to live in one unit while renting out the others. For investors, 1031 exchange and DSCR loan options are also available. This is part of a larger portfolio with multifamily options ranging from duplexes to 10-plexes. Contact us for information on other available properties in Corpus Christi and San Antonio.
Exterior Features

Levels Two Parking Features Gravel Roof Flat Waterfront YN No

Interior Features

Appliances Electric Oven Electric Range Refrigerator Cooling Central Air Cooling YN Yes Flooring Vinyl Heating Central Electric Heating YN Yes Interior Features Other Laundry Features Washer Hookup Dryer Hookup

Property Features

Association Fee 0 Association YN No Building Area Total 3360 Foundation Details Pillar / Post / Pier Listing Terms Cash Conventional FHA Lot Features Other Property Sub Type Quadruplex Sewer Public Sewer Stories 2 Tax Annual Amount 3995 Tax Legal Description P A CLIFFS N5' OF LT 15 ALL LTS 16 & 17 & S20' OF LT 18 BLK 1406 A Tax Lot 16 Utilities Sewer Available Water Available Water Source Public

Listing provided courtesy of . © 2024 Coastal Bend Multiple Listing Service.


© 2024 Coastal Bend Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or South Coast Real Estate, LLC. Data last updated: 2024-11-08T09:52:43.1.
 
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South Coast Real Estate, LLC
302 Rosebud Avenue
Corpus Christi TX, 78404