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10518 Heizer Dr 12 Unit Apartment Building $874,900 ($72,908/Unit) 10.59% Cap Rate Corpus Christi, TX 78410
INVESTMENT HIGHLIGHTS
- This 12-unit building in the desirable Tuloso-Midway ISD
- Located in Annaville near schools, shopping, and dining. Water included.
EXECUTIVE SUMMARY
Rare opportunity to acquire a 12-unit apartment building in Corpus Christi for under $1M. Currently 30% occupied. It's an ideal repositioning asset for an investor looking to capitalize on upside via renovation and lease-up. The building is well-located with strong rental demand and market comps to support the proforma assumptions.
Significant upside through lease-up and stabilization.
Market rents projected at $995/unit
Stabilized gross income: $131,340
Stabilized NOI: ~$92,000
Significant upside through lease-up and stabilization.
Market rents projected at $995/unit
Stabilized gross income: $131,340
Stabilized NOI: ~$92,000
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$131,340
|
$9.16
|
| Other Income |
$5,000
|
$0.35
|
| Vacancy Loss |
$6,567
|
$0.46
|
| Effective Gross Income |
$129,773
|
$9.05
|
| Taxes |
$15,500
|
$1.08
|
| Operating Expenses |
$22,280
|
$1.55
|
| Total Expenses |
$37,780
|
$2.64
|
| Net Operating Income |
$91,993
|
$6.42
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $131,340 |
| Annual Per SF | $9.16 |
| Other Income | |
|---|---|
| Annual | $5,000 |
| Annual Per SF | $0.35 |
| Vacancy Loss | |
|---|---|
| Annual | $6,567 |
| Annual Per SF | $0.46 |
| Effective Gross Income | |
|---|---|
| Annual | $129,773 |
| Annual Per SF | $9.05 |
| Taxes | |
|---|---|
| Annual | $15,500 |
| Annual Per SF | $1.08 |
| Operating Expenses | |
|---|---|
| Annual | $22,280 |
| Annual Per SF | $1.55 |
| Total Expenses | |
|---|---|
| Annual | $37,780 |
| Annual Per SF | $2.64 |
| Net Operating Income | |
|---|---|
| Annual | $91,993 |
| Annual Per SF | $6.42 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
- Tub/Shower
1 1
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AssetlyOne LLC
10518 Heizer Dr
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