254 Rosebud AveCorpus Christi, TX 78404

Property Details for 254 Rosebud Ave

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This recently renovated four-unit apartment building in Corpus Christi, Texas presents a compelling investment opportunity. Located on the same block as the prestigious Ocean Drive, with million-dollar homes nearby, this property boasts significant upside potential. Each of the four units features generously sized rooms and updated interiors, including washer/dryer hookups. Currently achieving a 95% occupancy rate, the property generates a strong rental income of $4,500 per month, with a pro forma of $4,700, indicating substantial room for growth. Value-add strategies, such as exterior painting and implementing a RUBS system, could further enhance profitability. The property's location and condition make it attractive to various rental programs, including medium-term and short-term rentals. This property is particularly well-suited for FHA buyers, offering a 3.5% down payment option, allowing owner-occupancy while generating rental income from the remaining units. Additionally, 1031 exchange and DSCR loan options are available for investors. This is one of several multifamily properties available, ranging from duplexes to larger complexes. The property is situated at 254 Rosebud Ave, Corpus Christi, TX 78404, and is offered at an asking price of $415,000.

Location Insight

City

Corpus Christi

County

Nueces

State

Texas

Latitude

27.7663

Longitude

-97.3903

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