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Multifamily

Park Avenue Apartments

926 Park Ave, Corpus Christi, TX 78401

Listing Price: $835,000

Cap Rate
7.68%
Number of Units
17
GRM
5.17
Occupancy
81.2%
Price/Unit
$49,118
Price/Gross SF
$71.37
Gross SF
11,700

Investment Overview

Marcus & Millichap is pleased to announce the exclusive listing of Park Avenue Apartments, a 17-unit value-add apartment community in Corpus Christi, Texas. The property contains four (4) adjacent buildings on Park Avenue and located less than one mile south from downtown Corpus Christi. The property consists of six (6) one-bedroom one bath units with rents averaging $690 and eleven (11) two-bedroom one bath units with rents averaging $848. The property is currently being run as an all-bills paid scenario.

Investment Highlights

  • Value-Add Opportunity
  • One-Mile from Corpus Chrisit's CBD
  • Year 1 Estimated Cash-on-Cash 15%

Exclusively Listed By

Listing Price: $835,000

Cap Rate
7.68%
Number of Units
17
GRM
5.17
Occupancy
81.2%
Price/Unit
$49,118
Price/Gross SF
$71.37
Gross SF
11,700

Investment Highlights

  • Value-Add Opportunity
  • One-Mile from Corpus Chrisit's CBD
  • Year 1 Estimated Cash-on-Cash 15%

Investment Overview

Marcus & Millichap is pleased to announce the exclusive listing of Park Avenue Apartments, a 17-unit value-add apartment community in Corpus Christi, Texas. The property contains four (4) adjacent buildings on Park Avenue and located less than one mile south from downtown Corpus Christi. The property consists of six (6) one-bedroom one bath units with rents averaging $690 and eleven (11) two-bedroom one bath units with rents averaging $848. The property is currently being run as an all-bills paid scenario.

Exclusively Listed By

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