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$750,000

1517 Ocean Dr, Corpus Christi, TX, 78404

$824,855 ARVInfo
On MarketInfo
Beds10 Beds
Baths7 Bath
Baths5,110 Sq Ft
ApartmentApartment
price_per_sqft$146.77 / sqft
Year BuiltBuilt in 1941

Highlights

Interior

Bedrooms 10Bedrooms 10
Bathrooms Half 7Bathrooms Half 7
Garage AvailableGarage Available

Exterior

Lot Size8,843 sqft

Building Information

Roof Type105

Land Information

APN0475-0004-0030
Lot Number3
SubdivisionBay Front Terrace
Land UseResidential
Legal DescriptionBAY FRONT TERRACE BLK 4 LOT 3
Census Tract001400
Assessed Land Value$194,436
Assessed Improvement Value$392,271
Assessment Year2025

About this property

Ocean Drive Property right across from Cole Park with magnificent views of Corpus Christi Bay and downtown skyline. Walking distance to Spohn Hospital as well as numerous Drs' and a Attorneys offices for convienient commute. This 7-unit property features three 2BD/1BA and four 1BD/1BA units that are located in Downtown Corpus Christi close to Del Mar College and just a scenic rive down Ocean Drive to TAMU-CC as well as NAS Corpu Christi . Each unitAll equipped with appliances & convenient parking. Total rent from all units currently is $6500 / mo. These properties are easy to rent and invite long term tenants. This is and can be a perfect little property to begin your real estate portfolio and is a good opportunity for an enterprising investor. It is our belief with minimal upgrades these could bring $100 - $200 / unit with total income potantioal of $7500n- $8500 / mo. Current owner lives in Tokyo & has been unable to upgrade much considering distance. A local involved owner / operator could really make this place sing and the Ocean Drive adress may oneday prove to be the investment opportunty of a lifetime as property may become future location of expanding hospital or other other more optimum uses of this prime property. Bring all offers .

Investor Tools

Property Icon
$586,707
Estimated Property Value
$471,250Estimated Mortgage Balance
$232,044Estimated Equity
20% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
$824,854
Rent-to-Value Ratio: 0.72%
Rent Estimate
$4,500 /month
Positive
Cash Flow Estimate:
$1,500 /month

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Joseph Kessling

Kessling Services

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$1,291/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$12,563
$586,707
2025
$194,436
$392,271
$586,707
No

Tax History

Year
Tax Paid
Assessed Value
2024
$12,563
$586,707

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Mita Securities Co Ltd
Commercial
$471,250
No
First
Dec 18, 2014
N/A

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$354,663
$232,044
39%
60%
$2,826/mo

Learn About the Market: Opportunity in Texas

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Explore

Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

Explore Texas Explore This Area
Population Growth

Population Growth

~1.3% annually

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$283,800

Unemployment Rate

Unemployment Rate

4.3%

Price Trend

Price Trend

Flat

New Permits

New Permits

158,121

City: Corpus Christi

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