Brick Multifamily Building with
New
For Sale
$525,000
243 Indiana Avenue, Corpus Christi, TX 78404
MULTI_FAMILY - Corpus Christi, TX
Property Size4,876 SF
Lot Size0.33 Acres
Price / SF$107.67
Days on Market5
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 4, Bedroom 6, Bedroom 5, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 3, Bathroom 5, Bathroom 6, Bathroom 1, Bedroom 8, Bedroom 7
Parking
6
Parking features
Carport, Off Street, Covered
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
carport
pergola
spacious yard
Building Details
Year built
1941
Floors in Building
2
Flooring type
Laminate, Tile
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: Aug 2
Last Checked: Aug 2 at 9:06PM
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.
Investment Insights
Based on property information with market context.
This six-unit multifamily building includes a mix of floor plans: four 1-bedroom, 1-bath units and two 2-bedroom, 1-bath units. Interior features include open floor plan layouts. The property has window unit cooling, laminate and tile flooring, and a free-standing range appliance. Construction is brick veneer, and the roof is shingle.
The exterior features include a large front deck, landscaped grounds, sprinkler irrigation, and storage. Parking is provided with a carport plus covered off-street parking. Five units are located within the two-story main building, with a sixth unit situated adjacent to the carport. The property sits on a 0.33-acre lot with public water and public sewer.
A 2018 re-roof is noted. Built in 1941, this RM-1 zoned property is positioned in the Bessar Park neighborhood of Corpus Christi.
The exterior features include a large front deck, landscaped grounds, sprinkler irrigation, and storage. Parking is provided with a carport plus covered off-street parking. Five units are located within the two-story main building, with a sixth unit situated adjacent to the carport. The property sits on a 0.33-acre lot with public water and public sewer.
A 2018 re-roof is noted. Built in 1941, this RM-1 zoned property is positioned in the Bessar Park neighborhood of Corpus Christi.
Key Highlights
- Six units: four 1‑bedroom/1‑bath and two 2‑bedroom/1‑bath
- Large front deck plus landscaped grounds and sprinkler irrigation
- Five units in two‑story main building; sixth unit adjacent to carport
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $94.8k | $19.44 |
| − Vacancy | −$11.9k | −$2.45 |
| EGI | $82.8k | $16.99 |
| − OpEx | −$37.3k | −$7.65 |
| NOI | $45.6k | $9.34 |
4,876 SF · lease $19.44/SF/yr · vacancy 12.60% · expense 45.00%
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.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
351
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?
Apartment building - Six-unit multifamily property with open floor plans, window units, and a large front deck on a 0.33-acre lot.
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: Six units: four 1‑bedroom/1‑bath and two 2‑bedroom/1‑bath; Large front deck plus landscaped grounds and sprinkler irrigation; Five units in two‑story main building; sixth unit adjacent to carport
