Central 9-Unit Apartment
901 Furman Avenue Corpus Christi, TX 78404
901 Furman Avenue, Corpus Christi, TX, 78404
$550,000
For Sale
$550,000
Nine units include two 2BR/1BA, six 1BR/1BA, and one efficiency, with individually metered electricity.
Property Size5,320 SF
Price / SF$103.38
Days on Market174
Property Features for 901 Furman Avenue
General Information
- Standard status
- Active
- Size
- 5,320 SF
- Property subtype
- Apartment
Building Details
- Year Built
- 1900
Listing agency
BK Real Estate
(972) 677-9172
Listed by
Cigdem Zambrano · License #0778006
(361) 633-1064
Source
Xome
Added: Jan 29 Updated: Jul 20 at 9:43PM Checked: Jul 22 at 3:41AM
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 BK Real Estate
Investment Insights
Based on property information with market context.
This 9-unit apartment property is configured as a front building (A–F) with six units and central A/C, and a rear building (G–J) with three units and window A/C. Unit D has a mini-split. The property includes on-site storage and operates with individually metered electricity, while the owner pays water, sewer, and trash. Separate gas meters are available, and the apartments are transitioning to electric appliances, including water heaters.
The building is located in a central area near Downtown Corpus Christi, Del Mar College, and TAMU-CC. Reported average gross income is $5,100 per month.
One efficiency unit is vacant and described as in need of repairs. The current setup also highlights potential value-add through HVAC, interior, and appliance upgrades.
The building is located in a central area near Downtown Corpus Christi, Del Mar College, and TAMU-CC. Reported average gross income is $5,100 per month.
One efficiency unit is vacant and described as in need of repairs. The current setup also highlights potential value-add through HVAC, interior, and appliance upgrades.
Key Highlights
- 9‑unit property with a mix of two 2BD/1BA, six 1BD/1BA, and one efficiency unit
- Front building has 6 units with central A/C; Unit D includes a mini‑split
- Rear building includes 3 units with window A/C and on‑site storage
Local Financial Insights For Apartment 5plus
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 | $103.4k | $19.44 |
| − Vacancy | −$13.0k | −$2.45 |
| EGI | $90.4k | $16.99 |
| − OpEx | −$40.7k | −$7.65 |
| NOI | $49.7k | $9.34 |
5,320 SF · lease $19.44/SF/yr · vacancy 12.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$710.2K
$621.4K – $828.6K
NOI $49,714 @ 7.0% cap · market cap 9.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,610 @ 7.0% cap · market cap 16.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Furman Apartments
Apartment Complex
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Nine units include two 2BR/1BA, six 1BR/1BA, and one efficiency, with individually metered electricity.
Where is this apartment building located?
The property is located at 901 Furman Avenue Corpus Christi, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 9‑unit property with a mix of two 2BD/1BA, six 1BD/1BA, and one efficiency unit; Front building has 6 units with central A/C; Unit D includes a mini‑split; Rear building includes 3 units with window A/C and on‑site storage
