Triplex with Private
New
For Sale
$629,000
104 E Oleander Street, South Padre Island, TX 78597
Three separate residences each have two bedrooms, one bathroom, and a full kitchen.
Property Size3,125 SF
Price / SF$201.28
Days on Market3
Property Features for 104 E Oleander Street
General Information
Standard status
Active
Size
3,125 SF
Property subtype
Residential Income
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Currently Operating
Yes
Taxes and HOA fees
Annual Taxes
$5,975
Amenities
private pool
on-site parking
Tile,Vinyl
true
Laundry Area
Cameron CAD
Ceiling Fan(s)
Wood
Sidewalks
6249.9888
7
0.1435
Attached
Paved
Slab
3125
1
false
Building Details
Building Size
3,125 SF
Year Built
1973
Buildings
1
Stories
2
Listing Agency:
JSL Living, LLC
(956) 539-7317
Listed By:
Matt Lopez
Source:
Cncrealtyrgv
Added: Oct 30
Changed: Oct 31
Last Checked: Oct 31 at 3:20AM
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 JSL Living, LLC
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Investment Insights
Based on property information with market context.
Built in 1973, this 3,125-square-foot triplex contains three residences: one on the ground level and two above. Each residence has two bedrooms, one bathroom, and a full kitchen. Tile and vinyl finishes, a laundry area, and a private pool are among the property’s features.
The two upper residences are operating as Airbnb rentals. On-site parking is also available.
The two upper residences are operating as Airbnb rentals. On-site parking is also available.
Key Highlights
- Three residences, with one downstairs and two upstairs
- Each residence includes 2 bedrooms, 1 bathroom, and a full kitchen
- Two upstairs residences currently operate as Airbnb rentals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,782
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$515,640
$515.6K
Cap Rate 7%
$368,314
$368.3K
Cap Rate 9%
$286,467
$286.5K
Market Conditions
NOI Build-Up for 3,125 SF
Gross rent
$39.4K $12.60/SF
− Vacancy
−$2.5K −$0.81/SF
EGI
$36.8K $11.79/SF
− OpEx
−$11.0K −$3.54/SF
NOI
$25.8K $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%
$515,640
Cap Rate 7%
$368,314
Cap Rate 9%
$286,467
Alternative Uses
Best Use
Multifamily LT 5
$368.3K
$322.3K – $429.7K
NOI $25,782 @ 7.0% cap · market cap 4.10%
Second Best
Apartment 5plus
$337.8K
$295.6K – $394.1K
NOI $23,644 @ 7.0% cap · market cap 3.76%
Theoretical Best
Healthcare Medical
$538.1K
$470.8K – $627.8K
NOI $37,665 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
421
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences each have two bedrooms, one bathroom, and a full kitchen.
Where is this triplex located?
The property is located at 104 E Oleander Street South Padre Island, TX.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: Three residences, with one downstairs and two upstairs; Each residence includes 2 bedrooms, 1 bathroom, and a full kitchen; Two upstairs residences currently operate as Airbnb rentals
