New Construction Four-Unit
For Sale
Contact for pricing
104 E Constellation Drive, South Padre Island, TX 78597
Four residential units combine three-bedroom layouts, updated interiors, stainless steel appliances, a pool, and private upper-level balconies.
Property Size5,610 SF
Price / SF$204.99
Days on Market258
Property Features for 104 E Constellation Drive
General Information
Standard status
Active
Size
5,610 SF
Property subtype
Multifamily
Building Details
Year Built
2024
Buildings
1
Units
4
Listing Agency:
Encore Fine Properties
Listed By:
Avinaash Buxani · License #TREC # 0712106
(956) 821-6170
Source:
Crexi
Added: Jan 31
Changed: Oct 11
Last Checked: Oct 16 at 7:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Encore Fine Properties
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Investment Insights
Based on property information with market context.
Completed in 2024, this four-unit quadplex contains 5,610 square feet and presents a contemporary residential configuration. Each unit includes three bedrooms, modern interior finishes, stainless steel appliances, and upgraded fixtures. The property also features a swimming pool, while the two upper-level units provide private balconies.
Located at 104 E Constellation Drive in South Padre Island, Texas, the property is positioned for residential occupancy, personal coastal use, or short-term rental operations, as supported by the existing unit layout and amenities.
Located at 104 E Constellation Drive in South Padre Island, Texas, the property is positioned for residential occupancy, personal coastal use, or short-term rental operations, as supported by the existing unit layout and amenities.
Key Highlights
- Four‑unit quadplex completed in 2024
- 5,610 square feet across the property
- Each unit includes three bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,284
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$925,680
$925.7K
Cap Rate 7%
$661,200
$661.2K
Cap Rate 9%
$514,267
$514.3K
Market Conditions
NOI Build-Up for 5,610 SF
Gross rent
$70.7K $12.60/SF
− Vacancy
−$4.6K −$0.81/SF
EGI
$66.1K $11.79/SF
− OpEx
−$19.8K −$3.54/SF
NOI
$46.3K $8.25/SF
Area
Cameron County, TX
Vacancy
6.46%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$925,680
Cap Rate 7%
$661,200
Cap Rate 9%
$514,267
Alternative Uses
Best Use
Multifamily LT 5
$661.2K
$578.6K – $771.4K
NOI $46,284 @ 7.0% cap · market cap 4.02%
Second Best
Apartment 5plus
$606.4K
$530.6K – $707.4K
NOI $42,445 @ 7.0% cap · market cap 3.69%
Theoretical Best
Healthcare Medical
$965.9K
$845.2K – $1.13M
NOI $67,616 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
383
Businesses Nearby
Explore this area
Business Placement
Demographics for 78597, TX
2,479
Population
5,895
Households
0.4
Avg Household Size
56
Median Age
53%
College-Educated
92%
High-School Grad
8.8 sq mi
ZIP Area
282
Density / Sq Mi
$61,357
Median Household Income
$36,843
Median Earnings
$1,421
Median Rent
$508,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units combine three-bedroom layouts, updated interiors, stainless steel appliances, a pool, and private upper-level balconies.
Where is this quadplex located?
The property is located at 104 E Constellation Drive South Padre Island, TX.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Four‑unit quadplex completed in 2024; 5,610 square feet across the property; Each unit includes three bedrooms
