Updated Multifamily Community Near NAS-CC | 2026 Waldron Rd
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Updated Multifamily Community Near NAS-CC 2026 Waldron Rd
20 Apartment Units Online Auction Sale Corpus Christi, TX 78418
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Investment Highlights
- Fully renovated 20-unit multifamily investment with recent upgrades to the units and community, as well as robust additional value-add potential.
- Strategic location near NAS Corpus Christi, TAMU-CC, Padre Island beaches, and Flour Bluff Shopping Center.
- Opportunity for additional exterior upgrades to enhance curb appeal and command higher rental rates.
- Below-market rents provide the potential for increased income by transitioning leases to market rates upon expiration.
- Significant capital improvements, with new flooring, countertops, cabinets, and updated lighting in most units.
Executive Summary
Serene Shores Apartments is a fully renovated, 20-unit garden-style multifamily community located in the desirable Flour Bluff area of Corpus Christi, Texas. Built in 1973 and spanning 0.83 acres, the property comprises a 12,440-square-foot, two-story masonry building with a flat roof. Each of the one-bedroom, one-bathroom units, approximately 600 square feet, has been thoughtfully updated to include central air conditioning and heat, luxury vinyl plank flooring, carpeting, contemporary fixtures, and modern finishes. Recent exterior improvements, such as fresh paint and new wooden stairs and balcony rails, complement the property’s updated interiors. Amenities include on-site laundry facilities and 30 on-site parking spaces, offering tenants convenience and comfort.
This property, currently 90% occupied, presents a compelling investment opportunity with its below-market rents, allowing a new owner to increase income by transitioning leases to market rates as they expire. The current loan, featuring a favorable 5.07% interest rate with over five years remaining, can be assumed, providing financial flexibility for additional value-add enhancements and future refinancing once NOI increases. Substantial capital improvements have already been made, including new flooring, countertops, cabinets, and lighting in most units. New ownership has the opportunity to further elevate the property by implementing exterior cosmetic upgrades to command higher rents.
Situated in the Flour Bluff submarket, Serene Shores Apartments offers residents quick access to major transportation routes like TX 158 and the John F Kennedy Memorial Causeway. The property is conveniently located near local demand drivers, including The Shops at Flour Bluff, Naval Air Station Corpus Christi, and Texas A&M University-Corpus Christi, which is just a 10-minute commute away. Residents also enjoy proximity to the recreational and entertainment hubs of Corpus Christi Bay, Padre Island, and Mustang Island State Park, with Downtown Corpus Christi just 14 miles northwest.
With its strong occupancy, attractive pricing, and prime location, Serene Shores Apartments is an excellent opportunity for investors seeking a well-maintained, value-add asset with significant growth potential. This property combines modern upgrades, competitive market positioning, and outstanding location advantages, making it a standout choice in the thriving Corpus Christi rental market.
This property, currently 90% occupied, presents a compelling investment opportunity with its below-market rents, allowing a new owner to increase income by transitioning leases to market rates as they expire. The current loan, featuring a favorable 5.07% interest rate with over five years remaining, can be assumed, providing financial flexibility for additional value-add enhancements and future refinancing once NOI increases. Substantial capital improvements have already been made, including new flooring, countertops, cabinets, and lighting in most units. New ownership has the opportunity to further elevate the property by implementing exterior cosmetic upgrades to command higher rents.
Situated in the Flour Bluff submarket, Serene Shores Apartments offers residents quick access to major transportation routes like TX 158 and the John F Kennedy Memorial Causeway. The property is conveniently located near local demand drivers, including The Shops at Flour Bluff, Naval Air Station Corpus Christi, and Texas A&M University-Corpus Christi, which is just a 10-minute commute away. Residents also enjoy proximity to the recreational and entertainment hubs of Corpus Christi Bay, Padre Island, and Mustang Island State Park, with Downtown Corpus Christi just 14 miles northwest.
With its strong occupancy, attractive pricing, and prime location, Serene Shores Apartments is an excellent opportunity for investors seeking a well-maintained, value-add asset with significant growth potential. This property combines modern upgrades, competitive market positioning, and outstanding location advantages, making it a standout choice in the thriving Corpus Christi rental market.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Title and Insurance
Market Analytics Click Here to Access
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Market Sale Price per Unit
Corpus Christi - TX USA
Market Cap Rate
Corpus Christi - TX USA
Market Sale Price per Unit by Star Rating
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3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
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Market Sale Price per Unit Distribution
Market Cap Rate Distribution
Property Facts
| Sale Type | Investment | Building Class | B |
| Sale Conditions | Auction Sale | Lot Size | 0.83 AC |
| No. Units | 20 | Building Size | 12,240 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1973 |
| Apartment Style | Low Rise |
| Sale Type | Investment |
| Sale Conditions | Auction Sale |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.83 AC |
| Building Size | 12,240 SF |
| No. Stories | 2 |
| Year Built | 1973 |
Amenities
Unit Amenities
- Balcony
- Ceiling Fans
- Tile Floors
- Kitchen
- Refrigerator
- Range
- Carpet
Site Amenities
- Laundry Facilities
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zoning
| Zoning Code | A-1A |
| A-1A |
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Amen Almukhtar
Contact
Auctioneer License:
Ten-X Commercial, LLC Todd Siegel RE Brkr 9004662
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VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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