Six-Unit Apartment
For Sale
$525,000
243 Indiana Avenue, Corpus Christi, TX 78404
Residential, Corpus Christi, TX
Property Size4,876 SF
Lot Size0.33 Acres
Price / SF$107.67
Days on Market98
Property Features for 243 Indiana Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM-1
Zoning description
RM-1
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 6, Bathroom 1, Bedroom 2, Bathroom 2, Bathroom 5, Bedroom 5, Bedroom 8, Bedroom 7, Bedroom 4, Bedroom 3, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 6
Parking
6
Parking features
Covered, Off Street, Carport
Patio and Porch features
Deck
Interior features
OpenFloorplan
Exterior features
Deck, SprinklerIrrigation, Storage
Appliances
FreeStandingRange
Subdivision
Bessar Park
Lot features
Interior Lot, Landscaped
Elementary school
Menger
Middle school
Baker
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
066600030110
Size
4,876 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Description
BESSAR PARK BLK 3 LOT 11&12
Tax Annual Amount
8822
Legal Description
BESSAR PARK BLK 3 LOT 11&12
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s)
Water source
Public
Amenities
large front deck
landscaped grounds
concrete driveway
pergola
spacious yard
Building Details
Year built
1941
Floors in Building
2
Flooring type
Tile, Laminate
Building materials
Brick, Veneer
Roof type
Shingle
Additional Structures
Pergola, Storage
Listing Agency:
Gene Guernsey & Assoc.Realtors
(361) 992-4663
Listed By:
Gene Guernsey · License #0372996
(361) 960-7653
Added: Jul 29
Changed: Oct 27
Last Checked: Nov 3 at 1:06AM
MLS# 479203
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.
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Investment Insights
Based on property information with market context.
This multifamily property contains 6 units totaling 4,876 square feet on 0.3343 acres. Five units occupy the two-story main building, while a sixth unit is positioned beside the carport. The unit mix includes four 1-bedroom, 1-bath units and two 2-bedroom, 1-bath units. Interior features include open floor plans, tile and laminate flooring, and window-unit cooling. The property also received a 2018 re-roof.
Outdoor improvements include a large front deck, pergola, landscaped grounds, sprinkler irrigation, a concrete driveway, spacious yard, storage, and a 5-car carport. Public water and public sewer serve the property, which has RM-1 zoning. Brick veneer construction and a shingle roof are additional property features.
Outdoor improvements include a large front deck, pergola, landscaped grounds, sprinkler irrigation, a concrete driveway, spacious yard, storage, and a 5-car carport. Public water and public sewer serve the property, which has RM-1 zoning. Brick veneer construction and a shingle roof are additional property features.
Key Highlights
- 6 units totaling 4,876 square feet on 0.3343 acres
- Unit mix includes four 1‑bedroom, 1‑bath units and two 2‑bedroom, 1‑bath units
- Five units in the two‑story main building plus a sixth unit beside the carport
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,565
Cap Rate
8.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$911,300
$911.3K
Cap Rate 7%
$650,929
$650.9K
Cap Rate 9%
$506,278
$506.3K
Market Conditions
NOI Build-Up for 4,876 SF
Gross rent
$94.8K $19.44/SF
− Vacancy
−$11.9K −$2.45/SF
EGI
$82.8K $16.99/SF
− OpEx
−$37.3K −$7.65/SF
NOI
$45.6K $9.34/SF
Area
Corpus Christi, TX
Vacancy
12.60%
Lease Rate
$19.44 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$911,300
Cap Rate 7%
$650,929
Cap Rate 9%
$506,278
Alternative Uses
Best Use
Apartment 5plus
$650.9K
$569.6K – $759.4K
NOI $45,565 @ 7.0% cap · market cap 8.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.02M – $1.35M
NOI $81,215 @ 7.0% cap · market cap 15.47%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - RM-1-zoned multifamily property with varied floor plans, covered parking, landscaped grounds, and a separate sixth unit.
Where is this apartment building located?
The property is located at 243 Indiana Avenue Corpus Christi, TX.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 6 units totaling 4,876 square feet on 0.3343 acres; Unit mix includes four 1‑bedroom, 1‑bath units and two 2‑bedroom, 1‑bath units; Five units in the two‑story main building plus a sixth unit beside the carport
