Four-Unit Apartment
For Sale
$210,000
3520 Lou Street, Corpus Christi, TX 78405
Four separate units offer varied layouts, appliance-equipped kitchenettes, split-system air conditioning, parking, and backyard space.
Property Size1,797 SF
Price / SF$116.86
Days on Market366
Property Features for 3520 Lou Street
General Information
Standard status
Active
Size
1,797 SF
Property subtype
Fourplex
Units
Unit Mix
3 x efficiency, 1 x 3BR
Multifamily Units
4
Additional Details
Gross Income
$34,800
Taxes and HOA fees
Annual Taxes
$2,863
Amenities
backyard
parking
Hardwood, Laminate
Alarm -Smoke/Fire
Refrigerator, Electric Oven, Electric Range/Cooktop, Range Hood
3
Shingle
Subdivided Lot.
4 Parking Spaces.
Shingle, Frame
Garden. Curbs Walk, Asphalt, Interior lot, Subdivided.
Building Details
Year Built
1950
Buildings
4
Listing Agency:
(361) 857-6789
Listed By:
Kessling Services
(361) 548-9190
Source:
Xome
Added: Sep 1, 2025
Changed: Aug 31
Last Checked: Aug 31 at 12:37PM
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 Kessling Services
Investment Insights
Based on property information with market context.
This four-unit residential income property contains three freestanding efficiency apartments with appliance-equipped kitchenettes and one larger three-bedroom, two-bath residence. The improvements provide 1,797 square feet of total property size, with split-system air conditioning serving the units. Hardwood and laminate flooring, smoke and fire alarms, refrigerators, electric ovens, electric ranges or cooktops, and range hoods are included among the interior features.
The property is located at 3520 Lou Street in Corpus Christi, Texas. Exterior improvements include shingle roofing, frame construction, a subdivided lot, garden space, curbs, sidewalks, asphalt surfaces, and four parking spaces. The property was built in 1950.
The property is located at 3520 Lou Street in Corpus Christi, Texas. Exterior improvements include shingle roofing, frame construction, a subdivided lot, garden space, curbs, sidewalks, asphalt surfaces, and four parking spaces. The property was built in 1950.
Key Highlights
- Four‑unit configuration with three efficiency apartments and one three‑bedroom residence
- 1,797 square feet of total property size
- Three efficiency units include appliance‑equipped kitchenettes
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
$18,337
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
8.73%
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%
$366,740
$366.7K
Cap Rate 7%
$261,957
$262.0K
Cap Rate 9%
$203,744
$203.7K
Market Conditions
NOI Build-Up for 1,797 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
$29.8K $16.56/SF
− Vacancy
−$3.6K −$1.98/SF
EGI
$26.2K $14.58/SF
− OpEx
−$7.9K −$4.37/SF
NOI
$18.3K $10.20/SF
Area
Corpus Christi, TX
Vacancy
11.97%
Lease Rate
$16.56 /SF/Yr
Expense Ratio
30.00%
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%
$366,740
Cap Rate 7%
$261,957
Cap Rate 9%
$203,744
Alternative Uses
Best Use
Multifamily LT 5
$262.0K
$229.2K – $305.6K
NOI $18,337 @ 7.0% cap · market cap 8.73%
Second Best
Apartment 5plus
$239.9K
$209.9K – $279.9K
NOI $16,793 @ 7.0% cap · market cap 8.00%
Theoretical Best
Office A
$427.6K
$374.1K – $498.9K
NOI $29,931 @ 7.0% cap · market cap 14.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
544
Businesses Nearby
Explore this area
Business Placement
Demographics for 78405, TX
14,151
Population
6,068
Households
2.3
Avg Household Size
37
Median Age
4%
College-Educated
62%
High-School Grad
5.1 sq mi
ZIP Area
2,775
Density / Sq Mi
$37,188
Median Household Income
$25,323
Median Earnings
$1,030
Median Rent
$75,300
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?
Quadplex - Four separate units offer varied layouts, appliance-equipped kitchenettes, split-system air conditioning, parking, and backyard space.
Where is this quadplex located?
The property is located at 3520 Lou Street Corpus Christi, TX.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Four‑unit configuration with three efficiency apartments and one three‑bedroom residence; 1,797 square feet of total property size; Three efficiency units include appliance‑equipped kitchenettes
