Furnished Triplex With Updated
For Sale
$365,000
419 Gulfspray Ave, Corpus Christi, TX 78402
Three furnished rental units offer a mix of coastal living features and flexible leasing potential near North Beach.
Property Size1,060 SF
Days on Market135
Property Features for 419 Gulfspray Ave
General Information
Standard status
Active
Size
1,060 SF
Property subtype
Triplex
Units
Unit Mix
1 x 2BR/2BA, 2 x 1BR/1BA
Multifamily Units
3
Additional Details
Furnished
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,400
Building Details
Building Size
1,060 SF
Year Built
1975
Buildings
1
Listing Agency:
Weichert REALTORS - The Place
(573) 280-4345
Listed By:
Diane Gardner · License #0637379
(573) 280-4345
Source:
National-onerealty
Added: Mar 23
Changed: Aug 4
Last Checked: Aug 4 at 3:28AM
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 Weichert REALTORS - The Place
Investment Insights
Based on property information with market context.
This furnished triplex contains three rental units, including an upstairs two-bedroom, two-bath residence of approximately 1,060 square feet. The upper unit includes central air, granite countertops, laminate and vinyl flooring, a wood-burning fireplace, and surrounding walkway decks. Two lower-level one-bedroom, one-bath units feature durable hard-surface floors, tiled walk-in showers, and window air-conditioning units. A new roof was installed in 2022.
The property is located two blocks from the beach on North Beach, with access over the Harbor Bridge to Downtown Corpus Christi, Whataburger Field, the marina, museums, and I-37. The Texas State Aquarium, USS Lexington, and local restaurants are also identified nearby. The lower units have been leased week to week to project workers and may also support short-term or vacation rental use. The reported cap rate is 11%+.
The property is located two blocks from the beach on North Beach, with access over the Harbor Bridge to Downtown Corpus Christi, Whataburger Field, the marina, museums, and I-37. The Texas State Aquarium, USS Lexington, and local restaurants are also identified nearby. The lower units have been leased week to week to project workers and may also support short-term or vacation rental use. The reported cap rate is 11%+.
Key Highlights
- Three‑unit furnished triplex with one 2‑bedroom, 2‑bath unit and two 1‑bedroom, 1‑bath units
- Approximately 1,060 SF upstairs unit with central air, granite countertops, fireplace, and walkway decks
- New roof installed in 2022
Financial Insights For Multifamily LT 5
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 | $17.6k | $16.56 |
| − Vacancy | −$2.1k | −$1.98 |
| EGI | $15.5k | $14.58 |
| − OpEx | −$4.6k | −$4.37 |
| NOI | $10.8k | $10.20 |
1,060 SF · lease $16.56/SF/yr · vacancy 11.97% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$154.5K
$135.2K – $180.3K
NOI $10,817 @ 7.0% cap · market cap 2.96%
Second Best
Apartment 5plus
$141.5K
$123.8K – $165.1K
NOI $9,905 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office A
$252.2K
$220.7K – $294.3K
NOI $17,655 @ 7.0% cap · market cap 4.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
Explore this area
Business Placement
Demographics for 78402, TX
625
Population
688
Households
0.9
Avg Household Size
54
Median Age
54%
College-Educated
100%
High-School Grad
4.2 sq mi
ZIP Area
149
Density / Sq Mi
$53,102
Median Household Income
$31,643
Median Earnings
$195,800
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?
Triplex - Three furnished rental units offer a mix of coastal living features and flexible leasing potential near North Beach.
Where is this triplex located?
The property is located at 419 Gulfspray Ave Corpus Christi, TX.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Three‑unit furnished triplex with one 2‑bedroom, 2‑bath unit and two 1‑bedroom, 1‑bath units; Approximately 1,060 SF upstairs unit with central air, granite countertops, fireplace, and walkway decks; New roof installed in 2022
