Spacious Beachside
For Sale
Contact for pricing
129 E Gardenia Street, South Padre Island, TX 78597
Duplex with two units, each offering three bedrooms, two full bathrooms, a full kitchen, and three balconies.
Property Size2,625 SF
Price / SF$228.19
Days on Market9
Property Features for 129 E Gardenia Street
General Information
Standard status
Active
Size
2,625 SF
Property subtype
Multifamily
Building Details
Year Built
1970
Listing Agency:
KW RGV Keller Williams Realty
(956) 566-8377
Listed By:
Deldi Ortegon · License #TX
Source:
Crexi
Added: Jul 22
Changed: Jul 25
Last Checked: Jul 30 at 4:50AM
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 KW RGV Keller Williams Realty
Investment Insights
Based on property information with market context.
This spacious duplex features two separate units, and each unit includes three bedrooms, two full bathrooms, a full kitchen, and a functional layout. The configuration also provides generous closet space and includes three balconies for each unit.
Set on South Padre Island and described as being just steps from the beaches, the property includes a large backyard with room for outdoor improvements.
Offered for sale as a duplex, the property supports multiple practical uses based on its flexible layout and coastal appeal, including long-term rentals and vacation rental opportunities.
Set on South Padre Island and described as being just steps from the beaches, the property includes a large backyard with room for outdoor improvements.
Offered for sale as a duplex, the property supports multiple practical uses based on its flexible layout and coastal appeal, including long-term rentals and vacation rental opportunities.
Key Highlights
- Duplex built in 1970 with two units
- Each unit features 3 bedrooms and 2 full bathrooms
- Each unit includes a full kitchen and three balconies
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 | $33.1k | $12.60 |
| − Vacancy | −$2.1k | −$0.81 |
| EGI | $30.9k | $11.79 |
| − OpEx | −$9.3k | −$3.54 |
| NOI | $21.7k | $8.25 |
2,625 SF · lease $12.60/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$309.4K
$270.7K – $361.0K
NOI $21,657 @ 7.0% cap · market cap 3.62%
Second Best
Apartment 5plus
$283.7K
$248.3K – $331.0K
NOI $19,861 @ 7.0% cap · market cap 3.32%
Theoretical Best
Healthcare Medical
$452.0K
$395.5K – $527.3K
NOI $31,639 @ 7.0% cap · market cap 5.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex with two units, each offering three bedrooms, two full bathrooms, a full kitchen, and three balconies.
Where is this duplex located?
The property is located at 129 E Gardenia Street South Padre Island, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Duplex built in 1970 with two units; Each unit features 3 bedrooms and 2 full bathrooms; Each unit includes a full kitchen and three balconies
