Remodeled 4-Plex Residential
For Sale
$449,000
Pending
905 Louisiana Avenue, Corpus Christi, TX 78404
MULTI_FAMILY - Corpus Christi, TX
Property Size2,334 SF
Lot Size0.18 Acres
Days on Market273
Property Features for 905 Louisiana Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 1, Bedroom 4, Bathroom 3, Bathroom 4, Bedroom 1, Bathroom 2, Bedroom 2
Parking features
Off Street
Interior features
OpenFloorplan
Exterior features
Landscaping
Appliances
Dishwasher, ElectricOven, ElectricRange, GasOven, GasRange, RangeHood
Subdivision
Lindale Park
Lot features
Landscaped
Elementary school
Menger
Middle school
Baker
High school
Ray
Elementary school district
Corpus Christi ISD
Middle school district
Corpus Christi ISD
High school district
Corpus Christi ISD
Standard status
Pending
APN
447000020020
Size
2,334 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
LINDALE PARK BLK 2 LOT 2
Legal Description
LINDALE PARK BLK 2 LOT 2
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Window Unit(s), Ductless
Water source
Public
Building Details
Year built
1949
Floors in Building
1
Number of units
4
Flooring type
Tile, Hardwood
Roof type
Shingle
Listing Agency:
Prime Real Estate
(361) 334-7653
Listed By:
David Edwards · License #0564777
(361) 688-0019
Added: Nov 24, 2025
Changed: Aug 2
Last Checked: Aug 24 at 12:06AM
MLS# 467539
Copyright © 2026 South Texas Multiple Listing Service, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Fully remodeled income-producing 4-plex at 905 Louisiana Avenue, featuring an updated, consistent interior finish package across all four units. The units include an open floorplan, tile and hardwood flooring, granite countertops, custom-made cabinetry, and upgraded bathroom and living-space finishes designed for easy maintenance. Kitchens are appointed with a range of built-in appliances, and the property includes landscaping and off-street parking.
Built in 1949, the property totals 2,334 square feet on a 0.18-acre lot. Heating is provided via ductless systems, with window unit(s) and ductless cooling. Public utilities are in place with public water and public sewer service, and the roof is shingle.
The asset is positioned for rental demand with a walkable setting near community college access and a cluster of shops, cafes, and restaurants, while Downtown Corpus Christi is within minutes.
Built in 1949, the property totals 2,334 square feet on a 0.18-acre lot. Heating is provided via ductless systems, with window unit(s) and ductless cooling. Public utilities are in place with public water and public sewer service, and the roof is shingle.
The asset is positioned for rental demand with a walkable setting near community college access and a cluster of shops, cafes, and restaurants, while Downtown Corpus Christi is within minutes.
Key Highlights
- Income‑producing 4‑plex with full interior remodel and consistent finishes across all four units
- 2,334 SF on a 0.18‑acre lot near walkable retail and dining
- Granite countertops, custom‑made cabinetry, and tile flooring throughout
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
Multi-tenant
Tenancy
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 - Four-unit 4-plex with open floorplans and tile flooring, off-street parking, and ductless heating/cooling.
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: Income‑producing 4‑plex with full interior remodel and consistent finishes across all four units; 2,334 SF on a 0.18‑acre lot near walkable retail and dining; Granite countertops, custom‑made cabinetry, and tile flooring throughout
