Corpus Christi Multifamily Investment
For Sale
$1,200,000
10901 Annaville, Corpus Christi, TX 78410
MULTI_FAMILY - Corpus Christi, TX
Property Size8,575 SF
Lot Size0.18 Acres
Price / SF$139.94
Days on Market167
Property Features for 10901 Annaville
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RS
Elementary school
Call District
Elementary school district
Calallen ISD
Middle school district
Calallen ISD
High school district
Calallen ISD
Subdivision
3100
Standard status
Active
Size
8,575 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
0
Building Details
Year built
1967
Listing Agency:
BEK Real Estate Advisors, LLC
(210) 913-3044
Listed By:
Brandon Kneupper · License #0551685
(210) 913-3044
Added: Feb 26
Changed: Apr 15
Last Checked: Aug 12 at 8:06PM
MLS# 1941613
Copyright © 2026 LERA MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This is an 8-unit multifamily investment property located in Corpus Christi. The property contains approximately 8,575 square feet of space on approximately 0.183 acres. Each unit is individually metered for utilities. The property consists of eight detached single-family style units, each with a fenced yard and garage. Six of the units have been renovated within the last four years, including updates to the HVAC, electrical, plumbing, and finishes. The property is fully leased and offers convenient access to I-37. It is located approximately 13 miles from Downtown Corpus Christi.
Key Highlights
- Fully leased 8‑unit multifamily investment property.
- Six of eight units renovated within the last four years including HVAC, electrical, plumbing, and finishes.
- Each unit is a detached single‑family style with fenced yard and garage.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$80,132
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,602,640
$1.6M
Cap Rate 7%
$1,144,743
$1.1M
Cap Rate 9%
$890,356
$890.4K
Market Conditions
NOI Build-Up for 8,575 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$166.7K $19.44/SF
− Vacancy
−$21.0K −$2.45/SF
EGI
$145.7K $16.99/SF
− OpEx
−$65.6K −$7.65/SF
NOI
$80.1K $9.34/SF
Area
Corpus Christi, TX
Vacancy
12.60%
Lease Rate
$19.44 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,602,640
Cap Rate 7%
$1,144,743
Cap Rate 9%
$890,356
Alternative Uses
Best Use
Apartment 5plus
$1.14M
$1.00M – $1.34M
NOI $80,132 @ 7.0% cap · market cap 6.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.04M
$1.79M – $2.38M
NOI $142,825 @ 7.0% cap · market cap 11.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
389
Businesses Nearby
Explore this area
Business Placement
Demographics for 78410, TX
29,545
Population
10,798
Households
2.7
Avg Household Size
35
Median Age
21%
College-Educated
90%
High-School Grad
22.5 sq mi
ZIP Area
1,313
Density / Sq Mi
$77,642
Median Household Income
$45,386
Median Earnings
$1,158
Median Rent
$220,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 8-unit multifamily property with fenced yards and garages.
Where is this apartment building located?
The property is located at 10901 Annaville Corpus Christi, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Fully leased 8‑unit multifamily investment property.; Six of eight units renovated within the last four years including HVAC, electrical, plumbing, and finishes.; Each unit is a detached single‑family style with fenced yard and garage.
