2129 16th Street
$395,000
—
3,360
3,360
$118
Description
This recently renovated 4-plex in the heart of Corpus Christi is a prime investment opportunity. Each unit features generous-sized rooms, washer/dryer hookups, and updated interiors, making it a desirable rental property with a 95% occupancy rate. With a current rent roll of $3,900 and a pro forma of $4,200, this property offers strong cash flow with room for growth. There are additional value-add opportunities, such as an exterior paint upgrade and implementing a RUBS (Ratio Utility Billing System),...This recently renovated 4-plex in the heart of Corpus Christi is a prime investment opportunity. Each unit features generous-sized rooms, washer/dryer hookups, and updated interiors, making it a desirable rental property with a 95% occupancy rate. With a current rent roll of $3,900 and a pro forma of $4,200, this property offers strong cash flow with room for growth. There are additional value-add opportunities, such as an exterior paint upgrade and implementing a RUBS (Ratio Utility Billing System), further boosting your return. Plus, there's potential to convert the back storage space into a 5th unit. This property is perfect for FHA buyers, offering a 3.5% down payment option to live in one unit while renting out the others. For investors, 1031 exchange and DSCR loan options are also available. This property is a part of a larger multifamily portfolio, with other properties available.
- Listed by Payton Dodson • TREC #0583922 • TruStar Real Estate
Property Details for 2129 16th Street
Parking Features
Gravel
Stories2
Subdivision NameP A Cliffs
WaterfrontNo
LISTING UPDATED: 12/09/2024 04:41 PM
Property Details for 2129 16th Street
Status | Active |
---|---|
MLS # | 449089 |
Days on Market | 75 |
Taxes | $3,995 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential / Quadruplex |
Year Built | 1961 |
Lot Size | 0.22 AC / 9,583 SF |
County | Nueces County |
Building Information for 2129 16th Street
Stories2Residences4Year Built1961Building Size-Lot Size0.22 AC / 9,583 SF
Property Information for 2129 16th Street
Property History for 2129 16th Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 2129 16th Street
Taxable ValueLand$18,768Additions$168,673Total$187,441
Tax Record2023$4,928 ($411 / month)
Home Facts
Total Finished SqFt3,360 SqFtAbove Grade Finished SqFt3,360 SqFtStories2Lot Size9,365 SqFtStyleQuadraplexYear Built1961CountyNUECESAPN6103-1407-0150
Schools near 2129 16th Street
This home is within Corpus Christi Independent School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 5 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Menger Elementary School PublicPK to 5 | ||
Baker Middle School Public6 to 8 | ||
Ray High School Public9 to 12 | ||
Collegiate High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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