600 E CROCKETT STREET, BEEVILLE, TX 78102
Homes for sale in Beeville.
Homes for sale in 78102.
600 E Crockett Street
Beeville, TX 78102
List Price$1,920,000
Listing #81816909
2
Bedrooms
1 full
Bathrooms
23,760
Square Feet
24
Number of Units
Multi-Unit Residential
Type
About This Property
Presenting The Thomas Apartments: A rare 24-unit value-add play in Beeville offered at an attractive $80,000/door at a 7.53% 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% 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% 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.
Property Features
Location Information
County
Bee
Subdivision
A BURKE ABST 5 TR 53 1.947 AC
Latitude
28.414123
Directions
US 59S Turn Left on Archer Turn right on E Crockett
Longitude
-97.754318
Interior Features
Total Number of Units
24
Exterior Features
Stories
2
Lot Size in Acres
0
Is New Construction
No
Lot Size in Sq. Ft.
84,942
Lot Description
Other
Is One Story
No
School
School District
Beeville
Middle School
MORENO JUNIOR HIGH SCHOOL
Elementary School
FADDEN-MCKEOWN-CHAMBLISS ELEMENTARY SCHOOL
High School
A C JONES HIGH SCHOOL
Additional Information
Property Type
RI
Year Built
1980
Property SubType
Multi Family
Status
Active
Similar Listings
Mortgage Calculator
$8,966
per month
30 Year Fixed. 3.52% Interest Rate.
Principal + Interest
$6,918
Monthly Tax
$1,600
Monthly Insurance
$448
yrs
%
$
$
Based on a fully amortized fixed rate loan. Ask your agent for the tax rates in your area. Insurance estimate is based on an average cost, your final premium cost will be determined by the type of coverage you select. This program only provides an estimate.
Schools
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