8-Unit Apartment Building with
For Sale
$1,380,000
2484-2486 6th St, Ingleside, TX 78362
Fully occupied apartment property with attached garages, carports, fenced grounds, and on-site parking.
Property Size10,112 SF
Price / SF$136.47
Days on Market24
Property Features for 2484-2486 6th St
General Information
Standard status
Active
Size
10,112 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
8 x 3BR/2BA
Multifamily Units
8
Amenities
fully fenced
Building Details
Year Built
2003
Listing Agency:
Ultima Real Estate
Listed By:
Deborah McGraw · License #0697963
(361) 500-5543
Source:
Thebranchinc
Added: Aug 12
Changed: Aug 30
Last Checked: Sep 4 at 8:20AM
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 Ultima Real Estate
Investment Insights
Based on property information with market context.
Built in 2003, this 10,112-square-foot apartment property contains eight three-bedroom, two-bathroom units. The fully occupied asset includes four garages, two carports, additional parking, and a fully fenced site. A new roof is also in place.
The property is located at 2484-2486 6th St in Ingleside, Texas. Its combination of unit count, residential layouts, covered parking, and recent roof replacement provides a straightforward multifamily configuration.
The property is located at 2484-2486 6th St in Ingleside, Texas. Its combination of unit count, residential layouts, covered parking, and recent roof replacement provides a straightforward multifamily configuration.
Key Highlights
- Eight 3‑bedroom, 2‑bathroom apartments
- 10,112 square feet built in 2003
- Fully occupied 8‑plex
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
$82,829
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
6.00%
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%
$1,656,580
$1.7M
Cap Rate 7%
$1,183,271
$1.2M
Cap Rate 9%
$920,322
$920.3K
Market Conditions
NOI Build-Up for 10,112 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
$172.3K $17.04/SF
− Vacancy
−$21.7K −$2.15/SF
EGI
$150.6K $14.89/SF
− OpEx
−$67.8K −$6.70/SF
NOI
$82.8K $8.19/SF
Area
San Patricio County, TX
Vacancy
12.60%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
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%
$1,656,580
Cap Rate 7%
$1,183,271
Cap Rate 9%
$920,322
Alternative Uses
Best Use
Apartment 5plus
$1.18M
$1.04M – $1.38M
NOI $82,829 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$5.19M
$4.54M – $6.05M
NOI $363,122 @ 7.0% cap · market cap 26.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
236
Businesses Nearby
Explore this area
Business Placement
Demographics for 78362, TX
10,238
Population
4,701
Households
2.2
Avg Household Size
36
Median Age
21%
College-Educated
86%
High-School Grad
18.3 sq mi
ZIP Area
559
Density / Sq Mi
$78,698
Median Household Income
$41,240
Median Earnings
$1,226
Median Rent
$182,600
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 - Fully occupied apartment property with attached garages, carports, fenced grounds, and on-site parking.
Where is this apartment building located?
The property is located at 2484-2486 6th St Ingleside, TX.
What is the asking price?
The asking price for this property is $1,380,000.
What are key features of this property?
This property features: Eight 3‑bedroom, 2‑bathroom apartments; 10,112 square feet built in 2003; Fully occupied 8‑plex
