600 CROCKETT ST, Beeville, TX 78102
600 CROCKETT ST, Beeville, TX 78102
600 CROCKETT ST, Beeville, TX 78102
600 CROCKETT ST, Beeville, TX 78102
600 CROCKETT ST, Beeville, TX 78102
600 CROCKETT ST, Beeville, TX 78102
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BILLIE CANTU

BILLIE CANTU

+1(210) 426-5292
$ 1,920,000
Est. payment | /mo

4,394 SqFt

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$ 1,920,000
Est. payment | /mo
Save

4,394 SqFt

Key Details

Property Type Commercial

Sub Type Commercial Improved Prop

Listing Status Active

Purchase Type For Sale

Square Footage 4,394 sqft

Price per Sqft $436

MLS Listing ID 1965722

Construction Status Wood,Brick

Year Built 1980

Annual Tax Amount $2

Lot Size 1.950 Acres

Property Sub-Type Commercial Improved Prop

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. 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.

Location

State TX

County Bee

Area 3300

Zoning COMMERCIAL

Direction E

Interior

Heating Central

Cooling Central

Exterior

Garage Spaces 48.0

Utilities Available Electricity, Water, Sewer

Roof Type Metal

Building

Story 2

Foundation Slab

Level or Stories 2

Construction Status Wood,Brick

Schools

School District Beeville Isd

Others

Acceptable Financing Sale Only, Cash, Conventional

Listing Terms Sale Only, Cash, Conventional

LERA MLS - Local Expertise Regional Access / SABOR
Listed by Erion Shehaj • Signature Real Estate • (713) 952-3200

Schools and Properties Nearby

BILLIE CANTU

Find out why customers are choosing LPT Realty to meet their real estate needs

+1(210) 426-5292

epicrealtorsa@gmail.com

San Antonio, TX, USA

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600 CROCKETT ST