Exceptional multifamily investment opportunity in the heart of Three Rivers, Texas! This 20-unit apartment complex offers both strong current performance and future upside with an 8.1% cap rate and room for rent increases. The property consists of twelve 2-bed/1-bath units and four 1-bed/1-bath units — all recently updated with central heat and air, laundry connections, and full kitchens. Exterior amenities include private parking, tenant patios or balconies, and convenient access to IH-37, ensuring steady rental demand. Priced to sell, this is an ideal opportunity for investors seeking cash flow, appreciation potential, and a turnkey asset in a growing South Texas market.
For sale
$1,199,000
1870 King David Dr, Three Rivers, TX 78071
--beds
--baths
15,876sqft
Est.:
Apartment
Built in 1994
-- sqft lot
$-- Zestimate®
$76/sqft
$-- HOA
What's special
Tenant patios or balconiesCentral heat and airLaundry connectionsFull kitchensPrivate parking
- 9 days |
- 76 |
- 5 |
Zillow last checked: 8 hours ago
Listing updated: January 14, 2026 at 06:00pm
Listed by:
James Mirabal 361-774-4137,
Mirabal Montalvo & Associates
Source: South Texas MLS,MLS#: 469959
Originating MLS: Corpus Christi
Originating MLS: Corpus ChristiTour with a local agent
Facts & features
Interior
Heating
- Central, Electric
Cooling
- Central Air
Appliances
- Included: Electric Oven, Electric Range
- Laundry: Washer Hookup, Dryer Hookup
Features
- Window Treatments
- Flooring: Carpet, Laminate
- Windows: Window Coverings
- Has fireplace: No
Interior area
- Total structure area: 15,876
- Total interior livable area: 15,876 sqft
Video & virtual tour
Property
Parking
- Parking features: Asphalt
Features
- Levels: Two
- Stories: 2
Lot
- Size: 1.89 Acres
- Features: Corner Lot
Details
- Has additional parcels: Yes
- Parcel number: 03903300055500
Construction
Type & style
- Home type: Apartment
- Property subtype: Apartment
- Attached to another structure: Yes
Materials
- Foundation: Slab
- Roof: Shingle
Condition
- Year built: 1994
Utilities & green energy
- Electric: Separate Meters
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Sewer Available, Water Available
Community & HOA
Community
- Security: Smoke Detector(s)
- Subdivision: WM O'DOCHARTY
HOA
- Has HOA: No
Location
- Region: Three Rivers
Financial & listing details
- Price per square foot: $76/sqft
- Annual tax amount: $5,749
- Date on market: 1/15/2026
- Listing agreement: Exclusive Right To Sell
- Listing terms: Cash,Conventional
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 1/15/2026 | Listed for sale | $1,199,000$76/sqft |
Source:  South Texas MLS #469959 Report a problem | ||
| 1/6/2021 | Listing removed | -- |
Source: South Texas MLS Report a problem | ||
| 4/16/2020 | Price change | $695-7.3% |
Source: Mirabal Montalvo & Associates #358084 Report a problem | ||
| 3/6/2020 | Listed for rent | $750+15.4% |
Source: Mirabal Montalvo & Associates #358084 Report a problem | ||
| 2/4/2017 | Listing removed | $650 |
Source: Zillow Rental Manager Report a problem | ||
Public tax history
Public tax history
Tax history is unavailable.BuyAbility℠ payment
Est. payment
$7,234/mo
Principal & interest
$5935
Property taxes
$879
Home insurance
$420
Climate risks
Neighborhood: 78071
Nearby schools
GreatSchools rating
- 3/10Three Rivers Elementary SchoolGrades: PK-6Distance: 1.4 mi
- 4/10Three Rivers Jr/Sr High SchoolGrades: 7-12Distance: 1.4 mi
Schools provided by the listing agent
- Elementary: Three Rivers
- Middle: Three Rivers
- High: Three Rivers
- District: Three Rivers ISD
Source: South Texas MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
