View All Photos
PRICE CUT! Presenting The Thomas Apartments: A rare 24-unit value-add play in Beeville offered at an attractive $76,000/door at a 7.92 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, in-place rents average $873 against $950 market, and 46 PCT of units are already leased at $900, the rent lift is real and easily achievable. 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.
Information provided Courtesy of LERA MLS - Local Expertise Regional Access. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is believed to be accurate but not guaranteed. Provided courtesy of the San Antonio Board of Realtors. Copyright 2025 LERA MLS, All Rights Reserved.
Provided By
Listed by Erion Shehaj (#42345)
Listing Office: Signature Real Estate (#SINA00)
Get an estimate on monthly payments on this property.
