Serene Shores

Corpus Christi, TX

Overview

Summary

Address 2026 Waldron Rd, Corpus Christi, TX 78418
# Units 20
Rentable SF 12,440 SF
Year Built 1973

Serene Shores Apartments is a recently renovated, 20-unit multifamily community located in the Flour Bluff submarket of Corpus Christi, TX in Nueces County. The garden-style property was built in 1973 and is comprised of 2, two-story masonry buildings with flat roofs and is situated on a total area of 0.83 acres. Serene Shores offers spacious one-bedroom / one-bathroom floor plans measuring approximately 600 square feet each. Each unit has been fully renovated and features central air conditioning and heat, contemporary fixtures, luxury vinyl plank flooring, and carpeting. Exterior capital improvements include exterior paint and new wooden stair and balcony rails. Laundry facilities and ample off-street parking are provided.

Key Facts

Below Market Rents: Serene Shores offers rents well below competitors, with potential to raise rents to market rates upon lease expirations.

Attractive Basis: The property is offered at a competitive price with potential for NOI growth.

Capital Improvements: Current ownership has upgraded most unit interiors with new flooring, paint, resurfaced countertops, and lighting fixtures. New owners can further enhance the exterior for higher rent potential.

Loan Assumption Opportunity: The existing loan can be assumed at a 5.07% rate, with over five years remaining, offering flexibility for property improvements and refinancing.