600 E Crockett St,Beeville, TX 78102
Beeville, TX 78102
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 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
| MLS # | 1965722 |
|---|---|
| Listing Type | For Sale |
| Style | Apartments |
| Status | Active |
| Year | 1980 |
| Days On Site | 108 |
| Listing Provided By | Signature Real Estate | Erion Shehaj |
Features
| SQ Feet | 4,394 |
|---|---|
| Story(s) | 2 |
| Zoning | COMMERCIAL |
| Acreage | 1.95 |
Interior
| Heating | Central |
|---|
Exterior
| Roof | Metal |
|---|---|
| Foundation | Slab |
Parking
| Number Total Parking | 48 |
|---|
Utilities
| Utilities | Electricity, Water, Sewer |
|---|
Taxes
| Tax Property Id | 20190 |
|---|---|
| Annual Tax | 37507 |
| Total Tax | 2.42 |
Area Information
| State | TX |
|---|---|
| County | Bee |
| City | Beeville |
| Zip Code | 78102 |
| Area | Bee |
| School District | Beeville ISD |
| Listing VS Median (in 78102) | |
Price: $1,920,000 low | high Med: $213,312 sqft: 4,394 low | high Med: 1,033 $ / sqft: $437 low | high Med: $274 On site: 108 low | high Med: 72 | |
Market Activity 78102
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Learn More About This Property
| State | TX |
|---|---|
| County | Bee |
| City | Beeville |
| Zip Code | 78102 |
| Area | Bee |
| School District | Beeville ISD |
| Listing VS Median (in 78102) | |
Price: $1,920,000 low | high Med: $213,312 sqft: 4,394 low | high Med: 1,033 $ / sqft: $437 low | high Med: $274 On site: 108 low | high Med: 72 | |
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Land & Ranch 210.483.7500 | Bandera 830.850.6700 | Global Luxury 210.483.5700 | Coldwell Banker Commercial Alamo City 210.483.6250
North Central San Antonio / Stone Oak 210.483.7070 | Harper Property Management 210.483.7040 | Relocation Services 210.483.7121
North West San Antonio 210.483.0000 | Laredo 956.722.4822 | Coldwell Banker Commercial International Gateway 956.937.2867
