Multifamily Property with
For Sale
$625,000
104 E Oleander St., South Padre Island, TX 78597
Residential Income, South Padre Island, TX
Property Size3,125 SF
Lot Size0.14 Acres
Price / SF$200
Days on Market323
Property Features for 104 E Oleander St.
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
c
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bathroom 3, Bedroom 3, Bedroom 2, Bedroom 5, Bathroom 1, Bathroom 2, Bedroom 1
Parking features
Garage - Attached
Patio and Porch features
Patio
Interior features
Cabinets-Manufactured, Ceiling Fan(s), Kitchen Island, Smoke Detector, Washer/Dryer Hook-up
Exterior features
Balcony, Fence - Privacy, Patio - Covered, Pool, Private Yard
Fencing
Privacy
Appliances
Microwave, Refrigerator, Stove
Subdivision
Padre Beach Subdivision
Lot features
Gulf View
Elementary school district
Point Isabel ISD
Middle school district
Point Isabel ISD
High school district
Point Isabel ISD
Standard status
Active
Size
3,125 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5975
Building Details
Year built
1973
Floors in Building
2
Number of units
1
Flooring type
Tile, Vinyl
Roof type
Composition
Listing Agency:
JSL Living
(956) 715-0869
Listed By:
Jessica Saenz-Luna · License #0696073
(956) 715-7734
Added: Nov 24, 2025
Changed: Oct 8
Last Checked: Oct 13 at 3:06PM
MLS# 104586
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 3,125-square-foot multifamily property occupies a 0.144-acre parcel and dates to 1973. The room details identify five bedrooms and three bathrooms. Interior features include a kitchen island, manufactured cabinets, ceiling fans, smoke detector, and washer/dryer hookups. Tile and vinyl flooring are installed, and the kitchen includes a microwave, refrigerator, and stove.
Outdoor features include a pool, balcony, covered patio, and privacy fencing. An attached garage provides on-site parking. The property is on the Gulf side of South Padre Island, at 104 E Oleander St. Zoning is listed as C, and the roof is composition.
Outdoor features include a pool, balcony, covered patio, and privacy fencing. An attached garage provides on-site parking. The property is on the Gulf side of South Padre Island, at 104 E Oleander St. Zoning is listed as C, and the roof is composition.
Key Highlights
- 3,125 square feet on a 0.144‑acre parcel
- Pool, balcony, covered patio, and privacy‑fenced yard
- Room details list 5 bedrooms and 3 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,782
Cap Rate
4.13%
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 4.13%
Second Best
Apartment 5plus
$337.8K
$295.6K – $394.1K
NOI $23,644 @ 7.0% cap · market cap 3.78%
Theoretical Best
Healthcare Medical
$538.1K
$470.8K – $627.8K
NOI $37,665 @ 7.0% cap · market cap 6.03%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
421
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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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - A covered patio, privacy-fenced yard, and attached garage add useful exterior and parking features.
Where is this multifamily property located?
The property is located at 104 E Oleander St. South Padre Island, TX.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 3,125 square feet on a 0.144‑acre parcel; Pool, balcony, covered patio, and privacy‑fenced yard; Room details list 5 bedrooms and 3 bathrooms
