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600 E CROCKETT ST

beeville, TX 78102

$1,920,000

    Interested? Let's Connect

    Presenting The Thomas Apartments: A rare 24-unit value-add play in Beeville offered at an attractive $80,000/door at a 7.53 PCT 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 PCT 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 PCT 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.

    Details

    4,394 Sq Ft

    1.95 Private Acres Lot Size

    commercial

    $2 Annual Tax

    Built in 1980

    MLS/Listing ID 1965722

    THE THOMAS APARTMENTS

    2 Stories

    24 Units

    Amenities & Features

    Construction - Wood Siding

    Construction - Brick

    Slab

    Metal

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