Three-Duplex Residential
New
For Sale
$1,049,700
1610 1612 1614 Cimmarron St, Portland, TX 78374
Five of six apartments are occupied, with one vacant unit available for leasing or owner occupancy.
Property Size5,462 SF
Price / SF$192.18
Days on Market4
Property Features for 1610 1612 1614 Cimmarron St
General Information
Standard status
Active
Size
5,462 SF
Property subtype
Multi-Family
Building Details
Year Built
1973
Listing Agency:
Mark Grosse Real Estate LLC
(806) 729-1778
Listed By:
Homecity Real Estate
(361) 792-0222
Source:
Homecity
Added: Nov 3
Changed: Nov 4
Last Checked: Nov 4 at 1:10PM
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 Mark Grosse Real Estate LLC
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Investment Insights
Based on property information with market context.
Three brick duplexes comprise this residential income property, with six apartments totaling 5,462 square feet on approximately 0.7 acres. The unit mix includes three apartments with 3 bedrooms and 2 baths each, plus three with 2 bedrooms and 1 bath each, for 15 bedrooms and 9 baths overall. Built in 1973, the buildings have slab foundations; all received new roofs in 2017–2018. Most apartments have granite countertops and tile or vinyl flooring. Each includes washer and dryer connections, a patio, a two-vehicle carport, and a storage closet.
Five apartments are tenant occupied, and one is vacant. Units are separately metered, with tenants responsible for utilities. Each duplex is on its own tax parcel. The property is in San Patricio County and Gregory-Portland ISD, in Portland, across the bay from Corpus Christi.
Five apartments are tenant occupied, and one is vacant. Units are separately metered, with tenants responsible for utilities. Each duplex is on its own tax parcel. The property is in San Patricio County and Gregory-Portland ISD, in Portland, across the bay from Corpus Christi.
Key Highlights
- Three brick duplexes with six apartments across 5,462 square feet
- Unit mix: three 3‑bedroom, 2‑bath apartments and three 2‑bedroom, 1‑bath apartments
- Five units occupied; one vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,486
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,009,720
$1.0M
Cap Rate 7%
$721,229
$721.2K
Cap Rate 9%
$560,956
$561.0K
Market Conditions
NOI Build-Up for 5,462 SF
Gross rent
$81.9K $15.00/SF
− Vacancy
−$9.8K −$1.80/SF
EGI
$72.1K $13.20/SF
− OpEx
−$21.6K −$3.96/SF
NOI
$50.5K $9.24/SF
Area
San Patricio County, TX
Vacancy
11.97%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,009,720
Cap Rate 7%
$721,229
Cap Rate 9%
$560,956
Alternative Uses
Best Use
Multifamily LT 5
$721.2K
$631.1K – $841.4K
NOI $50,486 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$639.1K
$559.3K – $745.7K
NOI $44,740 @ 7.0% cap · market cap 4.26%
Theoretical Best
Hotel Hospitality
$2.80M
$2.45M – $3.27M
NOI $196,140 @ 7.0% cap · market cap 18.69%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
277
Businesses Nearby
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Business Placement
Demographics for 78374, TX
20,281
Population
8,426
Households
2.4
Avg Household Size
35
Median Age
25%
College-Educated
92%
High-School Grad
18.6 sq mi
ZIP Area
1,090
Density / Sq Mi
$81,580
Median Household Income
$43,110
Median Earnings
$1,492
Median Rent
$225,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Five of six apartments are occupied, with one vacant unit available for leasing or owner occupancy.
Where is this duplex located?
The property is located at 1610 1612 1614 Cimmarron St Portland, TX.
What is the asking price?
The asking price for this property is $1,049,700.
What are key features of this property?
This property features: Three brick duplexes with six apartments across 5,462 square feet; Unit mix: three 3‑bedroom, 2‑bath apartments and three 2‑bedroom, 1‑bath apartments; Five units occupied; one vacant
