Eight-Unit Detached Multifamily
For Sale
$1,200,000
10901 Annaville, Corpus Christi, TX 78410
MULTI_FAMILY - Corpus Christi, TX
Property Size8,575 SF
Lot Size1.48 Acres
Price / SF$139.94
Days on Market189
Property Features for 10901 Annaville
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Garage
Interior features
AirFiltration
Appliances
Dishwasher, ElectricCooktop
Elementary school
Calallen
Middle school
Calallen
High school
Calallen
Elementary school district
Calallen ISD
Middle school district
Calallen ISD
High school district
Calallen ISD
Directions
IH-37 S to Exit 10 (Carbon Plant/Up River). Turn onto Annaville Rd, property on right.
Standard status
Active
APN
314800020053
Size
8,575 SF
Lot size
1.48 Acres
Taxes and HOA fees
Tax Description
HAIGLER ADD LT 4 A BK 2 HAIGLER ADD LT 4 B BK 2 HAIGLER ADD LT 4 C BK 2 HAIGLER ADD LT 4 D BK 2 HAIGLER ADD S 94 FT OF N 188 OF LT 4 & 5 BK 2 HAIGLER ADD LT 5 B BK 2 HAIGLER ADD LT 5 C BK 2 HAIGLER ADD LT 5 D BK 2
Legal Description
HAIGLER ADD LT 4 A BK 2 HAIGLER ADD LT 4 B BK 2 HAIGLER ADD LT 4 C BK 2 HAIGLER ADD LT 4 D BK 2 HAIGLER ADD S 94 FT OF N 188 OF LT 4 & 5 BK 2 HAIGLER ADD LT 5 B BK 2 HAIGLER ADD LT 5 C BK 2 HAIGLER ADD LT 5 D BK 2
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1967
Floors in Building
1
Flooring type
Vinyl
Roof type
Shingle
Listing Agency:
BEK Real Estate Advisors, LLC
(210) 913-3044
Listed By:
Brandon Kneupper · License #0551685
(210) 913-3044
Added: Feb 17
Changed: Jul 30
Last Checked: Aug 25 at 8:06PM
MLS# 471768
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 is an eight-unit detached single-style multifamily property totaling approximately 8,575 SF on approximately 1.48 acres. The units are fully leased and served by individually metered utilities. Each unit includes a fenced yard and garage, with parking provided via attached garages.
The property was built in 1967 and features public water and public sewer, with a shingle roof. For heating and cooling, it includes central electric heating, central air and window unit(s) cooling. Interior features include air filtration, and common appliance elements listed include a dishwasher and electric cooktop. Six of the eight units have been renovated within the last four years, with updates including HVAC, electrical, plumbing, and finishes.
Access is described as convenient to I-37, and the property is approximately 13 miles from Downtown Corpus Christi.
The property was built in 1967 and features public water and public sewer, with a shingle roof. For heating and cooling, it includes central electric heating, central air and window unit(s) cooling. Interior features include air filtration, and common appliance elements listed include a dishwasher and electric cooktop. Six of the eight units have been renovated within the last four years, with updates including HVAC, electrical, plumbing, and finishes.
Access is described as convenient to I-37, and the property is approximately 13 miles from Downtown Corpus Christi.
Key Highlights
- Eight detached single‑style units fully leased with individually metered utilities
- Six units renovated within the last four years including HVAC, electrical, plumbing, and finishes
- Each unit includes fenced yard and garage, with vinyl flooring
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
$80,132
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
6.68%
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%
$1,602,640
$1.6M
Cap Rate 7%
$1,144,743
$1.1M
Cap Rate 9%
$890,356
$890.4K
Market Conditions
NOI Build-Up for 8,575 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
$166.7K $19.44/SF
− Vacancy
−$21.0K −$2.45/SF
EGI
$145.7K $16.99/SF
− OpEx
−$65.6K −$7.65/SF
NOI
$80.1K $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%
$1,602,640
Cap Rate 7%
$1,144,743
Cap Rate 9%
$890,356
Alternative Uses
Best Use
Apartment 5plus
$1.14M
$1.00M – $1.34M
NOI $80,132 @ 7.0% cap · market cap 6.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.04M
$1.79M – $2.38M
NOI $142,825 @ 7.0% cap · market cap 11.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
336
Businesses Nearby
Explore this area
Business Placement
Demographics for 78410, TX
29,545
Population
10,798
Households
2.7
Avg Household Size
35
Median Age
21%
College-Educated
90%
High-School Grad
22.5 sq mi
ZIP Area
1,313
Density / Sq Mi
$77,642
Median Household Income
$45,386
Median Earnings
$1,158
Median Rent
$220,400
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?
Apartment building - Fully leased eight detached single-style units on individual metering, with fenced yards and garages, on 1.48 acres.
Where is this apartment building located?
The property is located at 10901 Annaville Corpus Christi, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Eight detached single‑style units fully leased with individually metered utilities; Six units renovated within the last four years including HVAC, electrical, plumbing, and finishes; Each unit includes fenced yard and garage, with vinyl flooring
