2129 16th ST Active Save Request In-Person Tour Request Virtual Tour
Corpus Christi,TX 78404
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,360 sqft
Price per Sqft $117
Subdivision P A Cliffs
MLS Listing ID 449089
HOA Y/N No
Year Built 1961
Annual Tax Amount $3,995
Lot Size 9,583 Sqft
Acres 0.22
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 property is a part of a larger multifamily portfolio, with other properties available.
Location
State TX
County Nueces
Interior
Interior Features Other
Heating Central,Electric
Cooling Central Air
Flooring Vinyl
Fireplace No
Appliance Electric Oven,Electric Range,Refrigerator
Laundry Washer Hookup,Dryer Hookup
Exterior
Parking Features Gravel
Utilities Available Sewer Available,Water Available
Roof Type Flat
Building
Lot Description Other
Story 2
Entry Level Two
Foundation Pillar/Post/Pier
Sewer Public Sewer
Water Public
Level or Stories Two
Schools
Elementary Schools Menger
Middle Schools Baker
High Schools Ray
School District Corpus Christi Isd
Others
Tax ID 610314070150
Acceptable Financing Cash,Conventional,FHA
Listing Terms Cash,Conventional,FHA