Turnkey Multifamily | $3.6m CapEx | High NOI 1404 Moore Ave

Lux Seaside Apartments offers a turnkey multifamily investment comprising 132 units on the shores of Nueces Bay in beautiful Portland, Texas. The community offers premium apartments with spacious one, two, and three-bedroom floorplans. After completing a massive recent renovation and enhancement, the property is currently 92% occupied, providing a high-yield investment with room to grow.

The community spans ±110,000 square feet across six buildings on a 5.85-acre lot. The grounds of the garden-style property are professionally landscaped and expertly maintained, allowing residents to enjoy beautiful views of the bay from the complex’s shaded walkways. Monument signage is prominently visible to Moore Avenue, providing exposure to more than 6,600 passing vehicles each day. The apartments are well-equipped to handle this elevated traffic with 299 on-site surface and covered parking spaces.

Residents of Lux Seaside Apartments love the upscale finishes and quality on-site amenities, which have earned the community an impressive 4.7-star Google rating. This is one of the highest ratings in the surrounding region, cementing this as a top choice for renters in the Corpus Christi area. After receiving more than $3.6 million in recent improvements, the apartments now boast central heating/air conditioning, full kitchens with granite counters and stainless-steel appliances, large walk-in closets, and luxury vinyl plank flooring. The community has added quality amenities, including a new playground, on-site laundry facilities, a barbecue social space, and an outdoor pool.

Lux Seaside Apartments are placed in an easily reachable location with convenient access to the area’s top amenities and attractions. Residents can reach US Highway 181 and the Nueces Bay Causeway in less than a mile, providing easy connections to Corpus Christi. The area is home to famous destinations, including the Texas State Aquarium, the USS Lexington, the Corpus Christi Museum of Science and History, and the Art Museum of South Texas. Additionally, apartment tenants are placed just 10 minutes from the beautiful white-sand beaches of North Beach. Professionals in the area appreciate the community’s proximity to the area’s largest employers, including the Port of Corpus Christi, Texas A&M University–Corpus Christi, and vital petrochemical businesses, including Citgo and Kiewit Offshore Services.

An investor in the Lux Seaside Apartments will benefit from several potential value-add opportunities. Additional revenue can be generated through the implementation of charges for the complex’s reserved and covered parking. Apartments in the area benefit from consistent recent population growth, which is expected to drive asking rents up by 3.7% during 2025. Units have experienced effective rent growth of 10% since 2010. With no new units under construction within a 15-mile radius, this rent growth is projected to continue and exceed 5% in 2026.

Don’t miss out on the chance to acquire a stabilized multifamily investment with significant growth potential and a prime location overlooking the Nueces Bay at Lux Seaside Apartments.