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10518 Heizer Dr 12 Unit Apartment Building $1,220,660 CAD ($101,722 CAD/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 (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$183,246
|
$12.79
|
| Other Income |
$6,976
|
$0.49
|
| Vacancy Loss |
$9,162
|
$0.64
|
| Effective Gross Income |
$181,059
|
$12.63
|
| Taxes |
$21,626
|
$1.51
|
| Operating Expenses |
$31,085
|
$2.17
|
| Total Expenses |
$52,711
|
$3.68
|
| Net Operating Income |
$128,349
|
$8.96
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $183,246 |
| Annual Per SF | $12.79 |
| Other Income (CAD) | |
|---|---|
| Annual | $6,976 |
| Annual Per SF | $0.49 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $9,162 |
| Annual Per SF | $0.64 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $181,059 |
| Annual Per SF | $12.63 |
| Taxes (CAD) | |
|---|---|
| Annual | $21,626 |
| Annual Per SF | $1.51 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $31,085 |
| Annual Per SF | $2.17 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $52,711 |
| Annual Per SF | $3.68 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $128,349 |
| Annual Per SF | $8.96 |
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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