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$1,850,000
Est. payment /mo
2 Beds
1 Bath
19,536 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 19,536 sqft
Price per Sqft $94
Subdivision Jones Add
MLS Listing ID 72383419
Bedrooms 2
Full Baths 1
HOA Y/N No
Year Built 1974
Annual Tax Amount $36,723
Tax Year 2025
Property Sub-Type Multi Family
Property Description
Presenting Sebastian Estates: A rare 24-unit value-add play in Beeville offered at an attractive $77,000/door at a 7.85% CAP Rate (proforma). Twenty-four large 2-bed/1-bath units at 814 sf, all single-level (tenants love this!), durable metal roofs, separately metered power. 1.07 acres with on-site parking. On-site laundry facility provided at no cost to residents (potential to convert to coin-operated for additional income). Beeville's tenant base is anchored by recession-resistant employers: TDCJ McConnell Unit (~540 staff), Coastal Bend College, Beeville ISD, and Eagle Ford energy. With effectively no new multifamily supply in the pipeline, the rent gap closes on its own merits. In-place rents average $855 against $950 market, and 42% of units are already leased at $900, proving the rent lift is real, not aspirational. Bring the bottom of the rent roll up and stabilize from 88% occupancy, and the value-add play is self-executing.
Location
State TX
County Bee
Interior
Heating Central, Electric
Cooling Central Air, Electric
Fireplace No
Exterior
Roof Type Metal
Building
Lot Description Other
Story 1
Entry Level One
Level or Stories One
New Construction No
Schools
Elementary Schools Fadden-Mckeown-Chambliss Elementary School
Middle Schools Moreno Junior High School
High Schools A C Jones High School
School District 334 - Beeville
Others
Tax ID 4457
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Listed by Signature Real Estate Erion Shehaj
NEARBY SCHOOL & BUSINESS
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