Four-Unit Quadplex with Newer
For Sale
$174,900
1335 6th St, Corpus Christi, TX 78404
Three one-bedroom apartments and one efficiency are currently leased.
Property Size1,114 SF
Days on Market9
Property Features for 1335 6th St
General Information
Standard status
Active
Size
1,114 SF
Property subtype
Quadruplex
Occupancy
100%
Property Condition
Severity
Repairs Needed
Evidence
could benefit from some TLC and updating
Financials
Gross Income
$36,000
Average Monthly Rent
$750
Units
Unit Mix
3 x 1BR, 1 x efficiency
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,199
Building Details
Building Size
1,114 SF
Year Built
1965
Tenancy
Multi
Listing Agency:
Corpus Christi Realty Group
Listed By:
Jacqueline O'Neill · License #0618758
(361) 947-8003
Source:
National-onerealty
Added: Aug 25
Changed: Aug 30
Last Checked: Sep 1 at 11:04PM
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 Corpus Christi Realty Group
Investment Insights
Based on property information with market context.
This four-unit residential income property includes three one-bedroom apartments and one efficiency, with every unit currently leased. A newer roof serves the building, while approximately 1,333 sq. ft. of converted garage living area is not included in the appraisal district square footage. That area contains one one-bedroom apartment and the efficiency.
The property is positioned near Ocean Drive, CHRISTUS Spohn Hospital Shoreline, Cole Park, the bayfront, downtown, hospitals, parks, and dining. It is being offered as-is and may require updating or other TLC. Built in 1965, the property combines an existing leased configuration with additional converted living space.
The property is positioned near Ocean Drive, CHRISTUS Spohn Hospital Shoreline, Cole Park, the bayfront, downtown, hospitals, parks, and dining. It is being offered as-is and may require updating or other TLC. Built in 1965, the property combines an existing leased configuration with additional converted living space.
Key Highlights
- Four‑unit configuration with three 1‑bedroom apartments and one efficiency
- All four units are currently leased
- Approximately 1,333 sq. ft. of converted garage living space is not reflected in appraisal district square footage
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
$11,368
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
6.50%
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%
$227,360
$227.4K
Cap Rate 7%
$162,400
$162.4K
Cap Rate 9%
$126,311
$126.3K
Market Conditions
NOI Build-Up for 1,114 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
$18.4K $16.56/SF
− Vacancy
−$2.2K −$1.98/SF
EGI
$16.2K $14.58/SF
− OpEx
−$4.9K −$4.37/SF
NOI
$11.4K $10.20/SF
Area
Corpus Christi, TX
Vacancy
11.97%
Lease Rate
$16.56 /SF/Yr
Expense Ratio
30.00%
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%
$227,360
Cap Rate 7%
$162,400
Cap Rate 9%
$126,311
Alternative Uses
Best Use
Multifamily LT 5
$162.4K
$142.1K – $189.5K
NOI $11,368 @ 7.0% cap · market cap 6.50%
Second Best
Apartment 5plus
$148.7K
$130.1K – $173.5K
NOI $10,410 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$265.1K
$231.9K – $309.3K
NOI $18,555 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,401
Businesses Nearby
Explore this area
Business Placement
Demographics for 78404, TX
15,339
Population
6,884
Households
2.2
Avg Household Size
42
Median Age
23%
College-Educated
79%
High-School Grad
3.2 sq mi
ZIP Area
4,793
Density / Sq Mi
$60,264
Median Household Income
$45,864
Median Earnings
$1,172
Median Rent
$180,500
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?
Quadplex - Three one-bedroom apartments and one efficiency are currently leased.
Where is this quadplex located?
The property is located at 1335 6th St Corpus Christi, TX.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: Four‑unit configuration with three 1‑bedroom apartments and one efficiency; All four units are currently leased; Approximately 1,333 sq. ft. of converted garage living space is not reflected in appraisal district square footage
