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Michelle Daep

realtormichelledaep@gmail.com +1(210) 941-7809

$ 1,850,000

Est. payment | -/mo

17,258 SqFt

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$ 1,850,000

Est. payment | -/mo

Save

17,258 SqFt

Key Details

Property Type Commercial

Sub Type Commercial Improved Prop

Listing Status Active

Purchase Type For Sale

Square Footage 17,258 sqft

Price per Sqft $107

MLS Listing ID 1965603

Construction Status Brick

Year Built 1974

Annual Tax Amount $2

Lot Size 1.070 Acres

Property Sub-Type Commercial Improved Prop

Property Description

Presenting Sebastian Estates: A rare 24-unit value-add play in Beeville offered at an attractive $77,000/door at a 7.85 PCT CAP Rate (proforma). Twenty-four large 2-bed/1-bath units at 814 sf, all single-level (tenants love this!), durable metal roofs, separately metered power. 1.07 acres with on-site parking. On-site laundry facility provided at no cost to residents (potential to convert to coin-operated for additional income). 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 $855 against $950 market, and 42 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 88 PCT occupancy, and the value-add play is self-executing.

Location

State TX

County Bee

Area 3300

Zoning COMMERCIAL

Direction N

Interior

Heating Central

Cooling Central

Exterior

Garage Spaces 48.0

Utilities Available Electricity, Water, Sewer

Amenities Available Not Applicable/None

Roof Type Metal

Building

Story 1

Foundation Slab

Level or Stories 1

Construction Status Brick

Schools

School District Beeville Isd

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

LERA MLS - Local Expertise Regional Access / SABOR

Listed by Erion Shehaj • Signature Real Estate • (713) 952-3200

Schools and Properties Nearby

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

+1(210) 941-7809

realtormichelledaep@gmail.com

Learn More About LPT Realty

1400 SAINT MARYS ST Beeville, TX 78102