2129 16th Street
Corpus Christi, TX 78404
3360 sqft | 0.22 acres | #449089
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.
Property Details
- Utility FeaturesSewer Available, Water Available
- School DistrictCorpus Christi Isd
- FoundationPillar Post Pier
- Sewer InformationPublic Sewer
- SubdivisionP A Cliffs
- Property SubtypeQuadruplex
- Property TypePurchase
- Original List Price$395,000
- Utility SourcePublic
- Elementary SchoolMenger
- CountyNueces
- Taxes Annual$3,995
- MLS #449089
- Cost395000
- MLS #449089
- InteriorOther
- Lot DescriptionOther
- Middle SchoolBaker
- Acres0.22
- Square Feet3360
- Year Built1961
- High SchoolRay
- Stories2
Location
Legal
Based on information from South Texas MLS, LLC for the period 01/01/2024 through 12/31/2024. All information provided is deemed reliable but is not guaranteed and should be independently verified. South Texas MLS, LLC provides the MLS and all content therein 'AS IS' and without any warranty, express or implied. The listing data contained is a copyright of Texas Association of REALTORS® and that reproduction or distribution is not allowed. IDX information is provided exclusively for 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 not guaranteed.
Last Updated: . Source: STMLS
Listing Courtesy
Listing Agent: Payton Dodson (#0583922)
Listing Office: TruStar Real Estate (#533282)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
