Quadplex with
For Sale
$199,000
3520 Lou Street, Corpus Christi, TX 78405
Residential, Corpus Christi, TX
Property Size1,797 SF
Lot Size0.17 Acres
Price / SF$110.74
Days on Market293
Property Features for 3520 Lou Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 2, Bathroom 4, Bedroom 5, Bathroom 1
Parking
4
Parking features
Off Street
Exterior features
Garden
Appliances
ElectricOven, ElectricRange, FreeStandingRange, Refrigerator, RangeHood
Subdivision
Meadow Park
Lot features
Interior Lot, Subdivided
Elementary school
Zavala
Middle school
Driscoll
High school
Miller
Elementary school district
Corpus Christi ISD
Middle school district
Corpus Christi ISD
High school district
Corpus Christi ISD
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
Legal Description
MEADOW PARK BLK 4 LOT 24
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Ductless
Water source
Public
Amenities
split air conditioning
kitchenettes
backyard
Building Details
Year built
1950
Floors in Building
1
Flooring type
Unfinished, Laminate, Hardwood
Building materials
Frame, ShingleSiding
Roof type
Shingle
Listing Agency:
Kessling Services
(361) 857-6789
Listed By:
Joseph Kessling · License #0216749
(361) 548-9190
Added: Nov 14, 2025
Changed: Sep 3
Last Checked: Sep 3 at 8:06PM
MLS# 467811
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.
Investment Insights
Based on property information with market context.
This 1,797-square-foot quadplex at 3520 Lou Street includes three freestanding efficiency apartments, each with a kitchenette, appliances, and its own split air-conditioning system. The fourth residence provides three bedrooms, two split systems, and additional living space. Interior finishes include laminate and hardwood flooring, with some unfinished areas. The property has frame construction with shingle siding, a shingle roof, public water, and public sewer.
Situated in Corpus Christi, the property occupies 0.17 acres and includes off-street parking and a backyard with garden features. Built in 1950, the four-unit configuration combines compact efficiency residences with a larger three-bedroom unit within one residential income property.
Situated in Corpus Christi, the property occupies 0.17 acres and includes off-street parking and a backyard with garden features. Built in 1950, the four-unit configuration combines compact efficiency residences with a larger three-bedroom unit within one residential income property.
Key Highlights
- Three efficiency apartments plus one three‑bedroom residence
- 1,797 square feet on 0.17 acres
- Kitchenettes equipped with electric ranges, ovens, refrigerators, and range hoods
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
$16,793
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
8.44%
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%
$335,860
$335.9K
Cap Rate 7%
$239,900
$239.9K
Cap Rate 9%
$186,589
$186.6K
Market Conditions
NOI Build-Up for 1,797 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
$34.9K $19.44/SF
− Vacancy
−$4.4K −$2.45/SF
EGI
$30.5K $16.99/SF
− OpEx
−$13.7K −$7.65/SF
NOI
$16.8K $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%
$335,860
Cap Rate 7%
$239,900
Cap Rate 9%
$186,589
Alternative Uses
Best Use
Multifamily LT 5
$262.0K
$229.2K – $305.6K
NOI $18,337 @ 7.0% cap · market cap 9.21%
Second Best
Apartment 5plus
$239.9K
$209.9K – $279.9K
NOI $16,793 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$427.6K
$374.1K – $498.9K
NOI $29,931 @ 7.0% cap · market cap 15.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
544
Businesses Nearby
Explore this area
Business Placement
Demographics for 78405, TX
14,151
Population
6,068
Households
2.3
Avg Household Size
37
Median Age
4%
College-Educated
62%
High-School Grad
5.1 sq mi
ZIP Area
2,775
Density / Sq Mi
$37,188
Median Household Income
$25,323
Median Earnings
$1,030
Median Rent
$75,300
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?
Quadplex - Four-unit residential property with appliance-equipped kitchenettes, split-system climate control, off-street parking, and a backyard.
Where is this quadplex located?
The property is located at 3520 Lou Street Corpus Christi, TX.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Three efficiency apartments plus one three‑bedroom residence; 1,797 square feet on 0.17 acres; Kitchenettes equipped with electric ranges, ovens, refrigerators, and range hoods
