Five-Unit Apartment
For Sale
$495,000
1802 Morgan Avenue, Corpus Christi, TX 78404
Residential, Corpus Christi, TX
Property Size3,232 SF
Lot Size0.17 Acres
Price / SF$153.16
Days on Market268
Property Features for 1802 Morgan Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Appliances
ElectricCooktop, Refrigerator, Dryer
Subdivision
Bay View #3
Elementary school
Allen
Middle school
Wynn Seale
High school
Miller
Elementary school district
Corpus Christi ISD
Middle school district
Corpus Christi ISD
High school district
Corpus Christi ISD
Standard status
Active
APN
048800040100
Size
3,232 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
BAY VIEW #3 LT 10 BLK 4 & ADJ ALLEY
Tax Annual Amount
4833
Legal Description
BAY VIEW #3 LT 10 BLK 4 & ADJ ALLEY
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
2017
Floors in Building
2
Flooring type
Tile
Roof type
Metal
Listing Agency:
DH Realty Partners Inc
(210) 222-2424
Listed By:
James Magill · License #0675040
(361) 425-1112
Added: Jan 12
Changed: Oct 5
Last Checked: Oct 7 at 6:06PM
MLS# 469858
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 3,232-square-foot mixed-use property, built in 2017, combines five residential units with a downstairs commercial or storage area. The residential portion is fully leased and includes tile flooring, window unit cooling, electric cooktops, refrigerators, and dryers. A metal roof serves the building, while public water and public sewer support the property.
Located at 1802 Morgan Avenue in Corpus Christi, the property occupies 0.1697 acres and carries CG-2 General Commercial zoning. The zoning designation supports a broad range of commercial uses, while the existing configuration provides both residential occupancy and ground-level commercial or storage space. The property is currently leased in full, offering an established mixed-use operating format for an apartment-building buyer.
Located at 1802 Morgan Avenue in Corpus Christi, the property occupies 0.1697 acres and carries CG-2 General Commercial zoning. The zoning designation supports a broad range of commercial uses, while the existing configuration provides both residential occupancy and ground-level commercial or storage space. The property is currently leased in full, offering an established mixed-use operating format for an apartment-building buyer.
Key Highlights
- Five residential units plus downstairs commercial or storage space
- 3,232 square feet on 0.1697 acres
- CG‑2 (General Commercial) zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,724
Cap Rate
6.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$654,480
$654.5K
Cap Rate 7%
$467,486
$467.5K
Cap Rate 9%
$363,600
$363.6K
Market Conditions
NOI Build-Up for 3,232 SF
Gross rent
$58.2K $18.00/SF
− Vacancy
−$5.8K −$1.80/SF
EGI
$52.4K $16.20/SF
− OpEx
−$19.6K −$6.07/SF
NOI
$32.7K $10.13/SF
Area
Corpus Christi, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$654,480
Cap Rate 7%
$467,486
Cap Rate 9%
$363,600
Alternative Uses
Best Use
Mixed Use
$467.5K
$409.1K – $545.4K
NOI $32,724 @ 7.0% cap · market cap 6.61%
Second Best
Apartment 5plus
$431.5K
$377.5K – $503.4K
NOI $30,202 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$769.0K
$672.9K – $897.2K
NOI $53,832 @ 7.0% cap · market cap 10.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,374
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Income-producing mixed-use property with residential units and ground-level commercial or storage space in a CG-2 zoning district.
Where is this apartment building located?
The property is located at 1802 Morgan Avenue Corpus Christi, TX.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Five residential units plus downstairs commercial or storage space; 3,232 square feet on 0.1697 acres; CG‑2 (General Commercial) zoning
