Four-Unit Multifamily
New
For Sale
$174,900
1335 6th Street, Corpus Christi, TX 78404
Residential, Corpus Christi, TX
Property Size1,114 SF
Lot Size0.15 Acres
Price / SF$157
Days on Market6
Property Features for 1335 6th Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Parking features
Off Street
Interior features
OpenFloorplan
Subdivision
Ocean View
Lot features
Interior Lot
Elementary school
Menger
Middle school
Hamlin
High school
Ray
Elementary school district
Corpus Christi ISD
Middle school district
Corpus Christi ISD
High school district
Corpus Christi ISD
Standard status
Active
APN
598300050090
Size
1,114 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
OCEAN VIEW LT 9 BK 5 V
Tax Annual Amount
3199
Legal Description
OCEAN VIEW LT 9 BK 5 V
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1965
Floors in Building
1
Number of units
1
Flooring type
Vinyl
Building materials
WoodSiding
Roof type
Shingle
Listing Agency:
Corpus Christi Realty Group
(361) 992-8400
Listed By:
Jacqueline O'Neill · License #0618758
(361) 947-8003
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 30 at 2:06AM
MLS# 481240
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 1965 quadplex contains three one-bedroom apartments and one efficiency, with all four residences currently leased. The property measures 1,114 square feet, while approximately 1,333 square feet of converted garage living area is reported separately from appraisal district records and includes one one-bedroom apartment and the efficiency. Interior features include open floorplans, vinyl flooring, window-unit cooling, wood siding, shingle roofing, off-street parking, public water, and public sewer. The property is offered as-is and may require updating.
Located at 1335 6th Street in Corpus Christi, the property is near Ocean Drive, CHRISTUS Spohn Hospital Shoreline, Cole Park, the bayfront, downtown, hospitals, parks, and dining. The lot contains 0.15 acres, providing a compact multifamily setting with established residential improvements.
Located at 1335 6th Street in Corpus Christi, the property is near Ocean Drive, CHRISTUS Spohn Hospital Shoreline, Cole Park, the bayfront, downtown, hospitals, parks, and dining. The lot contains 0.15 acres, providing a compact multifamily setting with established residential improvements.
Key Highlights
- Four leased units: three 1‑bedroom apartments and one efficiency
- 1,114 square feet, plus approximately 1,333 square feet of converted garage living area
- Newer roof with shingle roofing
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
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 - Four leased residences with a newer roof and convenient access to bayfront amenities.
Where is this quadplex located?
The property is located at 1335 6th Street 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 leased units: three 1‑bedroom apartments and one efficiency; 1,114 square feet, plus approximately 1,333 square feet of converted garage living area; Newer roof with shingle roofing
