Brick Quadplex With Hardwood
For Sale
$325,000
724 Elizabeth St, Corpus Christi, TX 78404
Original interior archways add character to every unit.
Days on Market30
Property Features for 724 Elizabeth St
General Information
Standard status
Active
Property subtype
Quadruplex
Building Details
Building Size
2,660 SF
Year Built
1980
Construction
brick
Listing Agency:
Keller Williams Coastal Bend
(361) 688-0887
Listed By:
Eddie Seal · License #0203610
(361) 688-0887
Source:
National-onerealty
Added: Jul 3
Changed: Jul 31
Last Checked: Jul 31 at 1:39PM
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 Keller Williams Coastal Bend
Investment Insights
Based on property information with market context.
This classic brick quadplex contains four units, each with hardwood floors and interior archways that retain the property's original character. Built in 1980, the property offers an established multifamily configuration suited to continued residential use.
The property is within easy walking distance of the Corpus Christi Bayfront and CHRISTUS Spohn Shoreline Hospital, placing it in a medical and coastal district. The location also supports consideration of medical, legal, or other office uses, subject to applicable requirements. Its proximity to the bayfront and hospital provides a distinct setting for an owner seeking a multifamily property with additional use considerations.
The property is within easy walking distance of the Corpus Christi Bayfront and CHRISTUS Spohn Shoreline Hospital, placing it in a medical and coastal district. The location also supports consideration of medical, legal, or other office uses, subject to applicable requirements. Its proximity to the bayfront and hospital provides a distinct setting for an owner seeking a multifamily property with additional use considerations.
Key Highlights
- Classic brick quadplex with 4 units
- Built in 1980
- Hardwood floors in each unit
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 | $44.0k | $16.56 |
| − Vacancy | −$5.3k | −$1.98 |
| EGI | $38.8k | $14.58 |
| − OpEx | −$11.6k | −$4.37 |
| NOI | $27.1k | $10.20 |
2,660 SF · lease $16.56/SF/yr · vacancy 11.97% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$387.8K
$339.3K – $452.4K
NOI $27,144 @ 7.0% cap · market cap 8.35%
Second Best
Apartment 5plus
$355.1K
$310.7K – $414.3K
NOI $24,857 @ 7.0% cap · market cap 7.65%
Theoretical Best
Office A
$632.9K
$553.8K – $738.4K
NOI $44,305 @ 7.0% cap · market cap 13.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
529
Businesses Nearby
Explore this area
Business Placement
Demographics for 78404, TX
15,339
Population
6,884
Households
2.2
Avg Household Size
42
Median Age
23%
College-Educated
79%
High-School Grad
3.2 sq mi
ZIP Area
4,793
Density / Sq Mi
$60,264
Median Household Income
$45,864
Median Earnings
$1,172
Median Rent
$180,500
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 - Original interior archways add character to every unit.
Where is this quadplex located?
The property is located at 724 Elizabeth St Corpus Christi, TX.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Classic brick quadplex with 4 units; Built in 1980; Hardwood floors in each unit
