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    Corpus Christi Multifamily Investment Opportunity Title is generated by Realmo AI

    3520 Lou Street, Corpus Christi, TX 78405

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    For Sale
    $210,000

    MULTI_FAMILY - Corpus Christi, TX

    Property size:
    1,797 SF
    Lot size:
    0.17 Acres
    Price / SF:
    $116/SF
    Added:
    Nov 14, 2025
    Days on Market:
    200
    Last Refresh:
    Jun 2 at 3:06 pm

    Property Features for 3520 Lou Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    4
    Rooms
    Bedroom 5, Bathroom 1, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 6, Bathroom 3, Bedroom 1, Bathroom 4, Bedroom 3
    Parking
    4
    Parking features
    Off Street
    Exterior features
    Garden
    Appliances
    ElectricOven, ElectricRange, FreeStandingRange, Refrigerator, RangeHood
    Standard status
    Active
    APN
    500000040240
    Size
    1,797 SF
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Description
    MEADOW PARK BLK 4 LOT 24
    Tax Annual Amount
    2863

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Ductless (Heating)
    Cooling system
    Ductless
    Water source
    Public

    Building Details

    Year built
    1950
    Floors in Building
    1
    Flooring type
    Hardwood, Laminate, Unfinished
    Building materials
    Frame, ShingleSiding
    Roof type
    Shingle

    We can help!

    Listing Contact
    Joseph Kessling

    Listing agent Joseph Kessling License #0216749

    Listing office Kessling Services 4437 Dolphin, Corpus Christi, TX

    Listing date Nov 14, 2025

    MLS# 467811 Listing URL

    Copyright © 2026 South Texas Multiple Listing Service, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Four properties included: three efficiency apartments and one three‑bedroom house.
    • Current total rental income of $2900 per month.
    • Each unit has split air conditioning systems.
    • Kitchenettes equipped with appliances in the efficiency apartments.
    • Off‑street parking available.
    • Includes a backyard and garden.

    Overview

    This multifamily property in Corpus Christi, TX, features three freestanding efficiency apartments, each equipped with kitchenettes, appliances, and split air conditioning systems. Convenient parking and a backyard are included. Additionally, there is a fourth property with three bedrooms and two split systems, offering ample space. The total rentable area of all units is 1797 square feet, situated on a 0.17-acre lot. The current total rent from all units is $2900 per month. These properties are easy to rent and attract long-term tenants, making it a good opportunity for an enterprising investor to begin their real estate portfolio.

    Local Financial Insights For Apartment 5plus

    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 $34.9k $19.44
    − Vacancy −$4.4k −$2.45
    EGI $30.5k $16.99
    − OpEx −$13.7k −$7.65
    NOI $16.8k $9.34
    1,797 SF · lease $19.44/SF/yr · vacancy 12.60% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $239.9K
    $209.9K – $279.9K (±1% cap)
    NOI $16,793 @ 7.0% cap · market cap 8.00%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $427.6K
    $374.1K – $498.9K (±1% cap)
    NOI $29,931 @ 7.0% cap · market cap 14.25%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Corpus Christi
    County
    Nueces
    State
    Texas
    Longitude
    -97.430732
    Latitude
    27.784697

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    FAQs

    What type of property is this?
    Multifamily property - Multifamily property with strong rental income potential in Corpus Christi.
    Where is this multifamily property located?
    The property is located at 3520 Lou Street Corpus Christi, TX.
    What is the asking price?
    The asking price for this property is $210,000.
    What are key features of this property?
    This property features: Four properties included: three efficiency apartments and one three‑bedroom house.; Current total rental income of $2900 per month.; Each unit has split air conditioning systems.
    (361) 548-9190
    We can help!
    Listing Contact
    Joseph Kessling
    Real Estate License ID: 0216749
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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