7-Unit Apartment
For Sale
$950,000
6513 Long Meadow Dr, Corpus Christi, TX 78413
Fully leased apartment property with a mix of one- and two-bedroom units and established tenants.
Property Size6,796 SF
Days on Market266
Property Features for 6513 Long Meadow Dr
General Information
Standard status
Active
Size
6,796 SF
Property subtype
Duplex
Occupancy
100%
Additional Details
Multifamily Units
7
Taxes and HOA fees
Annual Taxes
$11,618
Building Details
Building Size
6,796 SF
Year Built
1977
Listing Agency:
Corpus Christi Realty Group
Listed By:
Alma Martin · License #0496287
(361) 728-4231
Source:
National-onerealty
Added: Jan 23
Changed: Oct 4
Last Checked: Oct 16 at 2:30PM
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 Corpus Christi Realty Group
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Investment Insights
Based on property information with market context.
This 6,796-square-foot apartment building contains 7 units with a combination of one-bedroom and two-bedroom layouts. All units are occupied, and long-term tenants are in place. The property was built in 1977 and includes central air, electric service, ceramic tile and laminate flooring, electric cooking appliances, smoke and fire alarms, shingle roofing, and a concrete driveway.
The property is located at 6513 Long Meadow Drive in Corpus Christi, Texas. Its setting provides access to major roadways, employment centers, shopping, and dining. The building occupies an interior lot and includes a concrete drive for on-site access.
The property is located at 6513 Long Meadow Drive in Corpus Christi, Texas. Its setting provides access to major roadways, employment centers, shopping, and dining. The building occupies an interior lot and includes a concrete drive for on-site access.
Key Highlights
- 7‑unit apartment building with one‑bedroom and two‑bedroom layouts
- All 7 units occupied by long‑term tenants
- 6,796 square feet of building area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,275
Cap Rate
5.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,105,500
$1.1M
Cap Rate 7%
$789,643
$789.6K
Cap Rate 9%
$614,167
$614.2K
Market Conditions
NOI Build-Up for 6,796 SF
Gross rent
$115.0K $16.92/SF
− Vacancy
−$14.5K −$2.13/SF
EGI
$100.5K $14.79/SF
− OpEx
−$45.2K −$6.65/SF
NOI
$55.3K $8.13/SF
Area
ZIP 78413
Vacancy
12.60%
Lease Rate
$16.92 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,105,500
Cap Rate 7%
$789,643
Cap Rate 9%
$614,167
Alternative Uses
Best Use
Apartment 5plus
$789.6K
$690.9K – $921.3K
NOI $55,275 @ 7.0% cap · market cap 5.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.58M
$2.26M – $3.01M
NOI $180,545 @ 7.0% cap · market cap 19.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
7
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Explore this area
Business Placement
Demographics for 78413, TX
37,531
Population
15,501
Households
2.4
Avg Household Size
37
Median Age
31%
College-Educated
92%
High-School Grad
7.9 sq mi
ZIP Area
4,751
Density / Sq Mi
$71,624
Median Household Income
$44,342
Median Earnings
$1,321
Median Rent
$230,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased apartment property with a mix of one- and two-bedroom units and established tenants.
Where is this apartment building located?
The property is located at 6513 Long Meadow Dr Corpus Christi, TX.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 7‑unit apartment building with one‑bedroom and two‑bedroom layouts; All 7 units occupied by long‑term tenants; 6,796 square feet of building area
