Four-Unit Condo
110 E Retama St. South Padre Island, TX 78597
For Sale
$995,000
Pending
MULTI_FAMILY - South Padre Island, TX
Property Size5,240 SF
Days on Market177
Property Features for 110 E Retama St.
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R
- Bedrooms
- 12
- Bathrooms
- 14
- Rooms
- Bedroom 4, Bathroom 3, Bathroom 14, Bedroom 3, Bedroom 9, Bathroom 10, Bedroom 7, Bathroom 7, Bedroom 2, Bathroom 12, Bathroom 5, Bathroom 1, Bedroom 5, Bedroom 10, Bathroom 9, Bathroom 4, Bedroom 8, Bathroom 6, Bedroom 12, Bathroom 13, Bathroom 2, Bedroom 1, Bathroom 8, Bedroom 6, Bathroom 11, Bedroom 11
- Parking features
- Assigned
- Patio and Porch features
- Patio
- Interior features
- Cabinets-Custom, Ceiling Fan(s), Unfurnished, Washer/Dryer Hook-up, Window Treatment
- Exterior features
- Balcony, Patio, Storm Shutters
- Appliances
- Microwave, Refrigerator, Stove, Washer/Dryer
- Standard status
- Pending
- Size
- 5,240 SF
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 23073
Building Details
- Year built
- 2014
- Floors in Building
- 2
- Number of units
- 4
- Flooring type
- Tile
- Building materials
- Stucco
- Roof type
- Composition
Listing Agency:
Blue Heron Realty & Management, LLC
(956) 466-8412
Listed By:
Maggie Bolado · License #555293
(956) 466-8412
Added: Jan 27
Changed: Jul 20
Last Checked: Jul 23 at 10:06PM
MLS# 104806
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 property is a refreshed four-condo complex consisting of four residential units within one multi-family building. The listing describes the condos as spacious and fully ready for immediate rental income, making it suitable for an owner-operator or an investor seeking a ready-to-rent setup.
The property is located at 110 E Retama St. in South Padre Island, Texas (Cameron County). The site is identified under residential zoning (R), and the listing presents the asset as a turnkey option for rental operations.
For tenants or buyers, the primary takeaway is the unit configuration and readiness for rental use. With four separate condos under one ownership, this format can be useful for those looking for multiple rental homes in a single acquisition rather than a standalone unit. The listing also notes that commercial lending may be preferred for this property, which may be relevant when structuring financing. Prospective buyers should review the specific unit features and condition details during due diligence.
The property is located at 110 E Retama St. in South Padre Island, Texas (Cameron County). The site is identified under residential zoning (R), and the listing presents the asset as a turnkey option for rental operations.
For tenants or buyers, the primary takeaway is the unit configuration and readiness for rental use. With four separate condos under one ownership, this format can be useful for those looking for multiple rental homes in a single acquisition rather than a standalone unit. The listing also notes that commercial lending may be preferred for this property, which may be relevant when structuring financing. Prospective buyers should review the specific unit features and condition details during due diligence.
Key Highlights
- Refreshed four‑condo complex built in 2014
- Each condo includes custom cabinets, ceiling fans, window treatments, and washer/dryer hookups
- In‑unit appliances include a refrigerator, stove, and microwave; washer/dryer included
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.0k | $12.60 |
| − Vacancy | −$4.3k | −$0.81 |
| EGI | $61.8k | $11.79 |
| − OpEx | −$18.5k | −$3.54 |
| NOI | $43.2k | $8.25 |
5,240 SF · lease $12.60/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$617.6K
$540.4K – $720.5K
NOI $43,231 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$566.4K
$495.6K – $660.8K
NOI $39,646 @ 7.0% cap · market cap 3.98%
Theoretical Best
Healthcare Medical
$902.2K
$789.5K – $1.05M
NOI $63,157 @ 7.0% cap · market cap 6.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Refreshed four-condo complex described as ready for immediate rental use in South Padre Island, Texas.
Where is this quadplex located?
The property is located at 110 E Retama St. South Padre Island, TX.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Refreshed four‑condo complex built in 2014; Each condo includes custom cabinets, ceiling fans, window treatments, and washer/dryer hookups; In‑unit appliances include a refrigerator, stove, and microwave; washer/dryer included
