SQUARE FEET4,394
MLS#1965722
STATUSNew
PROPERTY TYPECommercial -
SCHOOLBeeville ISD
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 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. Beevilles 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 youd like to acquire more units, this property can also be purchased as a package with MLS 72383419 for $3.77M.
Property Features
Property Type: Commercial -
Cooling: Central
Heating: Central
Lot Size: 1.95 Acres
Roof Type: Metal
Taxes: $2
Year Built: 1980
Feature Descriptions
Building Name: THE THOMAS APARTMENTS
Ceiling Height: 10
Days on Site: 4
Flood Plain: None
Foundation: Slab
Loading Facilities: None
Parking Total: 48
Rail Service: No
restrictions: Deed
Sale Includes: Buildings
Tax - City: 0.68
Tax - County: 0.47
Tax - Other: 0.15
Tax - School: 1.12
Type: Apartments
utilities: Electricity, Water, Sewer
Local Schools
School District: Beeville ISD
Listed By / Shown By
Listed By
Agency Name: Signature Real Estate
Agency Phone: (713) 952-3200
Shown By
Agency Title: Kelly, Realtors
Agency Phone: (254) 741-1500
Agency Email: info@kellyrealtors.com
Agency Text: (254) 717-6447
600 E Crockett St | MLS# 1965722
This commercial property located at 600 E Crockett St, Beeville, TX 78102 is currently listed for sale with an asking price of $1,920,000. E Crockett St is located within the Beeville ISD school district. Search Beeville real estate on www.kellyrealtors.com today.