Renovated Fourplex with High
642 Robinson St Corpus Christi, TX 78404
642 Robinson St, Corpus Christi, TX, 78404
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For Sale
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Turnkey fourplex, fully occupied, renovated with high income potential.
Property Size3,072 SF
Price / SF$143.20
Days on Market169
Property Features for 642 Robinson St
General Information
- Standard status
- Active
- Size
- 3,072 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1948
Listing Agency
Cass Real Estate
(512) 736-2695
Listed by
Brenton Reagan · License #0669077
Source
Crexi
Added: Jan 29 Checked: Jul 17 at 5:34 am
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 Cass Real Estate
Investment Insights
Based on property information with market context.
This renovated fourplex is fully occupied and features significant upgrades completed since 2023. The property includes one unfurnished unit for long-term leases and three fully furnished units with all bills paid, designed for mid-term leases of approximately one to six months. The furnishings and decor in the three furnished units are included. Renovations encompass foundation work with new subfloors, mini-split air conditioning systems in all units, vinyl plank flooring, and updated interior and exterior paint. New appliances, furniture, and decor have also been installed. Each of the four units features a two-bedroom, one-bathroom layout, with two units located downstairs and two upstairs. A central interior stairway provides access to the upper units. Each unit also has a back door leading to a shared common area with a laundry closet. A washer and dryer are provided for all tenants. Three units have gas stoves, while one has an electric stove. Water and gas are on master meters and are landlord expenses. Electric meters are individual for each unit, allowing for separate billing. The property size is 3072 square feet. The property's high CAP rate is supported by good rents and minimal expenses, with potential for further increase if the fourth unit is converted to fully furnished.
Key Highlights
- High CAP Rate: Property boasts a 10.43% CAP rate, indicating strong investment potential.
- Fully Renovated: Extensive renovations since 2023, including foundation work, new flooring, paint, appliances, and mini‑split air systems.
- Fully Occupied: Currently 100% occupied, providing immediate rental income.
Local 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 | $50.9k | $16.56 |
| − Vacancy | −$6.1k | −$1.98 |
| EGI | $44.8k | $14.58 |
| − OpEx | −$13.4k | −$4.37 |
| NOI | $31.3k | $10.20 |
3,072 SF · lease $16.56/SF/yr · vacancy 11.97% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$447.8K
$391.9K – $522.5K
NOI $31,348 @ 7.0% cap · market cap 7.13%
Second Best
Apartment 5plus
$410.1K
$358.8K – $478.5K
NOI $28,707 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$731.0K
$639.6K – $852.8K
NOI $51,167 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - Turnkey fourplex, fully occupied, renovated with high income potential.
Where is this quadplex located?
The property is located at 642 Robinson St Corpus Christi, TX.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: High CAP Rate: Property boasts a **10.43% CAP rate**, indicating strong investment potential.; Fully Renovated: Extensive renovations since 2023, including foundation work, new flooring, paint, appliances, and mini‑split air systems.; Fully Occupied: Currently 100% occupied, providing immediate rental income.
