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$375,000

Beds
Unknown
sq ft
2,679

1419 Laredo St, Corpus Christi, TX 78401

1419 Laredo St

Corpus Christi, TX 78401

  • 88 days on market
    • Price drop $14,000↓
Investors, take note! This 9-unit multifamily property is a cash cow, delivering excellent cash flow and strong rental demand. Located just minutes from downtown Corpus Christi, this complex offers a prime location with close proximity to shopping, dining, and entertainment. Of the 9 apartments, several have been recently updated, attracting quality tenants and increasing the property's overall value. 7 out of 9 units are currently leased, providing a steady income stream. At the current rental rates, the property generates $6,095 per month in gross rent, with room to increase profits by making additional cosmetic renovations to further boost the rental potential. The property is currently professionally managed, providing a hassle-free investment. Whether you're looking to expand your portfolio or get started with a strong-performing asset, this property offers high returns and growth potential in a thriving market. Don't miss out on this opportunity to acquire this cash cow!

Details

Property type

Apartment

Lot size

0.25 acres

Price per sq ft

$140

Year built

1955

Annual property taxes

$2,797

HOA

No

Price History

10/18/2024
SouthTexasMLS

SouthTexasMLS #447223

Price change
$375,000
-3.6%
09/18/2024
SouthTexasMLS

SouthTexasMLS #447223

Price change
$389,000
-2.51%
08/23/2024
SouthTexasMLS

SouthTexasMLS #447223

Listed
$399,000

Schools & Community

Neighborhood: 

Central City

Elementary school: 

Allen

Middle school: 

Driscoll

High school: 

Miller

High school district: 

Corpus Christi ISD

Number of units in community: 

9

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Conventus Llc

Loan start date

September 2022

Original loan amount

$384,505

Est. remaining balance

Not provided

Interest rate

4.99%

Loan type

Commercial

Seller

Stoddard Fox Investments Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 11/19/2024 at 11:50 AM

Listing updated: 10/18/2024 at 5:30 PM

Listed by: Tyler Fox, NB Elite Realty Phone #: (844) 444-6237

MLS: SouthTexasMLS #447223

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