The Lux Seaside | 1404 Moore Ave
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The Lux Seaside 1404 Moore Ave
132 Unit Apartment Building For Sale Portland, TX 78374
Investment Highlights
- 10% increase in effective rents since 12/23.
- Luxurious Interiors such as stainless steel appliances, granite countertops in all units and more.
- Additional revenue opportunity to charge for reserved and covered parking.
- $3.6M+ recent major capital infusion.
- Limited supply of only 1 multifamily property under construction within a 15 mile radius.
- Increase in submarket rent growth (3.7% projected submarket growth in 2025, 5% projected submarket growth in 2026).
Executive Summary
Lux Seaside is a well-maintained, garden-style multifamily community located in picturesque Portland, Texas, a beautiful coastal city on the shores of Corpus Christi and Nueces Bay, and only 5.3 miles northeast of Corpus Christi.
The $1.2 billion Harbor Bridge and expressway currently under construction connecting Corpus Christi to Portland, which is scheduled to open next spring, will not only benefit the port by allowing much larger ships to enter it but will provide easier commutes between the two cities. It is also expected to spur growth in Portland, Corpus Christi and throughout the Coastal Bend area.
Known for its outdoor activities, parks and family-friendly lifestyle, Portland is a great place for water sports including fishing, boating, sailing, swimming, water skiing and kite surfing. Portland has scenic bayside parks, including Indian Point Fishing Park and Pier, and Sunset Lake Park, a 333-acre public park. Residents enjoy small town living with the convenience of having Corpus Christi just minutes away.
Current ownership has recently spent over $3.6 million improving the community's amenities and upgrading 100% of the unit interiors.
The community features a sparkling swimming pool, barbecue social space, laundry facility, office and outdoor spaces, covered parking and a public pet park within walking distance.
Units have luxurious finishes including stainless steel appliances, granite countertops, wood-style flooring, new white cabinet fronts and boxes, microwave, undermount sinks in the kitchen and spacious closets.
The $1.2 billion Harbor Bridge and expressway currently under construction connecting Corpus Christi to Portland, which is scheduled to open next spring, will not only benefit the port by allowing much larger ships to enter it but will provide easier commutes between the two cities. It is also expected to spur growth in Portland, Corpus Christi and throughout the Coastal Bend area.
Known for its outdoor activities, parks and family-friendly lifestyle, Portland is a great place for water sports including fishing, boating, sailing, swimming, water skiing and kite surfing. Portland has scenic bayside parks, including Indian Point Fishing Park and Pier, and Sunset Lake Park, a 333-acre public park. Residents enjoy small town living with the convenience of having Corpus Christi just minutes away.
Current ownership has recently spent over $3.6 million improving the community's amenities and upgrading 100% of the unit interiors.
The community features a sparkling swimming pool, barbecue social space, laundry facility, office and outdoor spaces, covered parking and a public pet park within walking distance.
Units have luxurious finishes including stainless steel appliances, granite countertops, wood-style flooring, new white cabinet fronts and boxes, microwave, undermount sinks in the kitchen and spacious closets.
Property Facts
| Sale Type | Investment | Lot Size | 5.85 AC |
| No. Units | 132 | Building Size | 110,000 SF |
| Property Type | Multifamily | Average Occupancy | 98% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1971 |
| Building Class | B | Parking Ratio | 2.71/1,000 SF |
| Sale Type | Investment |
| No. Units | 132 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 5.85 AC |
| Building Size | 110,000 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built | 1971 |
| Parking Ratio | 2.71/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Heating
- Refrigerator
- Oven
- Range
- Walk-In Closets
Site Amenities
- Courtyard
- Laundry Facilities
- Pool
- Pet Play Area
- Walking/Biking Trails
- Maintenance on site
- Fiber Optic Internet
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 62 | - | 620 - 725 |
| 2+1 | 31 | - | 737 - 880 |
| 2+2 | 8 | - | 916 |
| 3+1 | 31 | - | 880 |
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The Lux Seaside | 1404 Moore Ave
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