2129 16th St , Corpus Christi, TX 78404
Corpus Christi, TX 78404
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 property is a part of a larger multifamily portfolio, with other properties available.
Details
| MLS# | 449089 |
|---|---|
| Listing Type | For Sale |
| Style | Town House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1961 |
| Days On Site | 103 |
| Listing Provided By | TruStar Real Estate | Payton Dodson |
Features
| SQ Feet | 3,360 |
|---|---|
| Story(s) | 2 |
| Units | 4 |
| Acreage | 0.22 |
Market Activity 78404
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Learn More About This Property
| State | TX |
|---|---|
| County | Nueces |
| City | Corpus Christi |
| Zip Code | 78404 |
| Community Name | P A Cliffs |
| School District | Corpus Christi ISD |
| Elementary School | Menger |
| Middle School | Baker |
| High School | Ray |
| Listing VS Median (in P A Cliffs) | |
Price: $395,000 low | high Med: $220,000 SqFt: 3,360 low | high Med: 1,846 $ / SqFt: $118 low | high Med: $119 On Site: 103 low | high Med: 85.000000 | |