1400 N Saint Marys St
About this property
PRICE CUT! Presenting Sebastian Estates: A rare 24-unit value-add play in Beeville offered at an attractive $73,333/door at a 8.26 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, in-place rents average $855 against $950 market, and 42 PCT of units are already leased at $900, the rent lift is real and achievable. Bring the bottom of the rent roll up and stabilize from 88 PCT occupancy, and the value-add play is self-executing.
About this property
PRICE CUT! Presenting Sebastian Estates: A rare 24-unit value-add play in Beeville offered at an attractive $73,333/door at a 8.26 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, in-place rents average $855 against $950 market, and 42 PCT of units are already leased at $900, the rent lift is real and achievable. Bring the bottom of the rent roll up and stabilize from 88 PCT occupancy, and the value-add play is self-executing.
Features and Additional Information
Presented By CB StageCoach
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Brokerage: Signature Real Estate
