Brick Quadplex With Hardwood
For Sale
$325,000
724 Elizabeth St, Corpus Christi, TX 78404
Original interior archways add character to every unit.
Property Size2,660 SF
Days on Market123
Property Features for 724 Elizabeth St
General Information
Standard status
Active
Size
2,660 SF
Property subtype
Quadruplex
Taxes and HOA fees
Annual Taxes
$4,913
Building Details
Building Size
2,660 SF
Year Built
1980
Construction
brick
Listing Agency:
Keller Williams Coastal Bend
Listed By:
Eddie Seal · License #0203610
(361) 688-0887
Source:
National-onerealty
Added: Jul 3
Changed: Sep 15
Last Checked: Nov 1 at 1:16PM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$27,144
Cap Rate
8.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$542,880
$542.9K
Cap Rate 7%
$387,771
$387.8K
Cap Rate 9%
$301,600
$301.6K
Market Conditions
NOI Build-Up for 2,660 SF
Gross rent
$44.0K $16.56/SF
− Vacancy
−$5.3K −$1.98/SF
EGI
$38.8K $14.58/SF
− OpEx
−$11.6K −$4.37/SF
NOI
$27.1K $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 Rate 5%
$542,880
Cap Rate 7%
$387,771
Cap Rate 9%
$301,600
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.
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Location Intelligence
Trade Area within ½ mile
1,401
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
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
