Four-Unit
For Sale
$314,900
Pending
902 W Lakeside Dr, Corpus Christi, TX 78418
Multifamily property with efficiency, one-bedroom, and three-bedroom residences near schools, retail, dining, NAS Corpus Christi, and the beach.
Property Size1,926 SF
Days on Market64
Property Features for 902 W Lakeside Dr
General Information
Standard status
Pending
Size
1,926 SF
Property subtype
Multi Family
Units
Unit Mix
2 x efficiency, 1 x 1BR/1BA, 1 x 3BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,251
Building Details
Building Size
1,926 SF
Year Built
1900
Listing Agency:
Prime Real Estate
Listed By:
Brooke LaClair · License #0618863
(361) 765-1003
Source:
National-onerealty
Added: Jul 17
Changed: Sep 10
Last Checked: Sep 16 at 11:22PM
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 Prime Real Estate
Investment Insights
Based on property information with market context.
This four-unit quadplex at 902 W Lakeside Dr includes two efficiency apartments, one one-bedroom, one-bath residence, and one three-bedroom, one-bath residence. The varied floor plans provide a mix of smaller and larger living arrangements within one multifamily property. The building dates to 1900.
The property is near schools, shopping, restaurants, NAS Corpus Christi, and the beach. Its Corpus Christi location and combination of unit configurations support a range of residential occupancy needs.
The property is near schools, shopping, restaurants, NAS Corpus Christi, and the beach. Its Corpus Christi location and combination of unit configurations support a range of residential occupancy needs.
Key Highlights
- Four‑unit multifamily property with a varied residential unit mix
- Two efficiency apartments included
- One 1‑bedroom, 1‑bath unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,090
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$341,800
$341.8K
Cap Rate 7%
$244,143
$244.1K
Cap Rate 9%
$189,889
$189.9K
Market Conditions
NOI Build-Up for 1,926 SF
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.
Gross rent
$27.7K $14.40/SF
− Vacancy
−$3.3K −$1.72/SF
EGI
$24.4K $12.68/SF
− OpEx
−$7.3K −$3.80/SF
NOI
$17.1K $8.87/SF
Area
ZIP 78418
Vacancy
11.97%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$341,800
Cap Rate 7%
$244,143
Cap Rate 9%
$189,889
Alternative Uses
Best Use
Multifamily LT 5
$244.1K
$213.6K – $284.8K
NOI $17,090 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$215.9K
$188.9K – $251.8K
NOI $15,110 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$736.3K
$644.2K – $859.0K
NOI $51,538 @ 7.0% cap · market cap 16.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
506
Businesses Nearby
Explore this area
Business Placement
Demographics for 78418, TX
31,787
Population
16,171
Households
2
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
73.3 sq mi
ZIP Area
434
Density / Sq Mi
$91,443
Median Household Income
$51,914
Median Earnings
$1,301
Median Rent
$274,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Multifamily property with efficiency, one-bedroom, and three-bedroom residences near schools, retail, dining, NAS Corpus Christi, and the beach.
Where is this quadplex located?
The property is located at 902 W Lakeside Dr Corpus Christi, TX.
What is the asking price?
The asking price for this property is $314,900.
What are key features of this property?
This property features: Four‑unit multifamily property with a varied residential unit mix; Two efficiency apartments included; One 1‑bedroom, 1‑bath unit
