South Padre Island
201 W Hibiscus St. South Padre Island, TX 78597
201 W Hibiscus St., South Padre Island, TX, 78597
$795,000
For Sale
$795,000
MULTI_FAMILY - South Padre Island, TX
Property Size3,503 SF
Lot Size0.14 Acres
Price / SF$226.95
Days on Market97
Property Features for 201 W Hibiscus St.
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- res
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bathroom 3, Bedroom 4, Bathroom 2, Bedroom 1, Bathroom 4, Bedroom 2, Bedroom 5, Bathroom 1, Bedroom 6, Bedroom 3
- Parking features
- Driveway, Garage - Attached
- Patio and Porch features
- Deck, Patio
- Interior features
- Cabinets-Custom, Ceiling Fan(s), Furnished, Smoke Detector, Walk-in Closet, Washer/Dryer Hook-up, Window Treatment
- Exterior features
- BBQ Area, Deck, Fence, Patio
- Fencing
- Fenced
- Appliances
- Dishwasher, Microwave, Refrigerator, Stove, Washer/Dryer
- Standard status
- Active
- Size
- 3,503 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 14379
Building Details
- Year built
- 1992
- Floors in Building
- 2
- Number of units
- 3
- Flooring type
- Laminate, Tile
- Building materials
- Stucco
- Roof type
- Composition
Listing Agency
RE/MAX Elite
(956) 433-5648
103 S Garcia St., Mission, TX
Listed by
Padre Elite Team · License #9007399
(956) 433-8564
Added: Apr 13 Checked: Jul 18 at 10:06 am
MLS# 106109
Listing URL
Copyright © 2026 South Padre Island Board of Realtors. 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 two-story triplex presents an opportunity for multi-generational living, investment, or a combination of both. Each of the three units features a private entrance, living room, kitchen, and bath, providing comfort, privacy, and flexibility. Private decks are available for each unit, complemented by a spacious common yard suitable for gatherings, barbecues, or outdoor relaxation. The property is located within walking distance to the beach, the bay, and South Padre Island's entertainment district. Unit A is located upstairs and includes a private deck and central AC. Unit B is ground-level, handicap accessible, and equipped with central AC. Unit C is upstairs and features a private deck and a window unit. The roof was replaced in August 2025, and a new AC unit is planned for 2026. The property is fully furnished and situated on a 0.1435-acre lot. The property size is 3503 square feet.
Key Highlights
- Two‑story triplex built in 1992 with 3 units, each with a private entrance and private outdoor deck
- Unit A: upstairs unit with private deck and central AC
- Unit B: ground‑level unit with handicap accessible features and central AC
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.1k | $12.60 |
| − Vacancy | −$2.9k | −$0.81 |
| EGI | $41.3k | $11.79 |
| − OpEx | −$12.4k | −$3.54 |
| NOI | $28.9k | $8.25 |
3,503 SF · lease $12.60/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$412.9K
$361.3K – $481.7K
NOI $28,901 @ 7.0% cap · market cap 3.64%
Second Best
Apartment 5plus
$378.6K
$331.3K – $441.7K
NOI $26,504 @ 7.0% cap · market cap 3.33%
Theoretical Best
Healthcare Medical
$603.2K
$527.8K – $703.7K
NOI $42,221 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Two-story triplex near beach, bay, and entertainment district.
Where is this triplex located?
The property is located at 201 W Hibiscus St. South Padre Island, TX.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Two‑story triplex built in 1992 with 3 units, each with a private entrance and private outdoor deck; Unit A: upstairs unit with private deck and central AC; Unit B: ground‑level unit with handicap accessible features and central AC
