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$1,920,000
Est. payment /mo
2 Beds
1 Bath
23,760 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 23,760 sqft
Price per Sqft $80
Subdivision A Burke Abst 5 Tr 53 1.947 Ac
MLS Listing ID 81816909
Bedrooms 2
Full Baths 1
HOA Y/N No
Year Built 1980
Annual Tax Amount $37,507
Tax Year 2025
Property Sub-Type Multi Family
Property Description
Presenting The Thomas Apartments: A rare 24-unit value-add play in Beeville offered at an attractive $80,000/door at a 7.53% CAP Rate (proforma). Twenty-four large 2-bed/1-bath units at 990 sf, in 6 separate two-story buildings with durable metal roofs and separately metered power on just under 2 acres of land. Washer and dryer connections in each unit. 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 $873 against $950 market, and 46% 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 80% occupancy, and the value-add play is self-executing. If you'd like to acquire more units, this property can also be purchased as a package with MLS 72383419 for $3.77M.
Location
State TX
County Bee
Interior
Heating Central, Electric
Cooling Central Air, Electric
Fireplace No
Exterior
Roof Type Composition
Building
Lot Description Other
Story 2
Entry Level Two
Level or Stories Two
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 20190
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Listed by Signature Real Estate Erion Shehaj
NEARBY SCHOOL & BUSINESS
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