Remodeled 4-Unit
For Sale
$449,000
Pending
905 Louisiana Avenue, Corpus Christi, TX 78404
Updated rental property with granite kitchens, custom cabinetry, tile flooring, and walkable access to a community college.
Property Size2,334 SF
Days on Market321
Property Features for 905 Louisiana Avenue
General Information
Standard status
Pending
Size
2,334 SF
Property subtype
Fourplex
Additional Details
Multifamily Units
4
Amenities
Window Air Conditioning
Hardwood, Tile
Other, Dishwasher, Electric Oven, Electric Range/Cooktop, Gas Range/Cooktop, Range Hood
3
Open Floor Plan
Shingle
Gravel.
Landscaped.
Building Details
Year Built
1949
Buildings
1
Stories
1
Listing Agency:
(361) 334-7653
Listed By:
Prime Real Estate
(361) 688-0019
Source:
Xome
Added: Oct 16, 2025
Changed: Aug 31
Last Checked: Aug 31 at 3:02PM
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.
Located at 905 Louisiana Avenue in Corpus Christi, this 2,334-square-foot quadplex was built in 1949 and includes four renovated units. Interior improvements include granite countertops, custom cabinetry, tile flooring, open layouts, and updated bathrooms and living areas. Window air conditioning, hardwood and tile finishes, and multiple cooking appliances are also provided, including a dishwasher, gas range/cooktop, electric oven, electric range/cooktop, and range hood.
The property is within walking distance of a community college, shops, cafés, and restaurants. Downtown Corpus Christi is described as being minutes away and offers waterfront, entertainment, business, and cultural destinations. Exterior features include a shingle roof, gravel areas, and landscaping.
The property is within walking distance of a community college, shops, cafés, and restaurants. Downtown Corpus Christi is described as being minutes away and offers waterfront, entertainment, business, and cultural destinations. Exterior features include a shingle roof, gravel areas, and landscaping.
Key Highlights
- Four renovated rental units within a 2,334‑square‑foot quadplex
- Granite countertops and custom‑made cabinetry in the kitchens
- Tile flooring, open floor plans, updated bathrooms, and renovated living spaces
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
$23,817
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
5.30%
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%
$476,340
$476.3K
Cap Rate 7%
$340,243
$340.2K
Cap Rate 9%
$264,633
$264.6K
Market Conditions
NOI Build-Up for 2,334 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
$38.7K $16.56/SF
− Vacancy
−$4.6K −$1.98/SF
EGI
$34.0K $14.58/SF
− OpEx
−$10.2K −$4.37/SF
NOI
$23.8K $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 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%
$476,340
Cap Rate 7%
$340,243
Cap Rate 9%
$264,633
Alternative Uses
Best Use
Multifamily LT 5
$340.2K
$297.7K – $397.0K
NOI $23,817 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$311.6K
$272.6K – $363.5K
NOI $21,811 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$555.4K
$485.9K – $647.9K
NOI $38,875 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
557
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 - Updated rental property with granite kitchens, custom cabinetry, tile flooring, and walkable access to a community college.
Where is this quadplex located?
The property is located at 905 Louisiana Avenue Corpus Christi, TX.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Four renovated rental units within a 2,334‑square‑foot quadplex; Granite countertops and custom‑made cabinetry in the kitchens; Tile flooring, open floor plans, updated bathrooms, and renovated living spaces
