Beaumont, TX

Beaumont, TX
Share Property
Access deal room
About the property

168 multi-family units for sale in Beaumont, Texas with anattractive assumable loan at 71% LTV,4.38% interest rate, over two years ofremaining IO, 30-year am and 1.80 DSCR at the current NOI. The propertycontains 60 total acres of land, 47 of which are undeveloped, zoned formulti-family, and included in the sale. The existing units have undergonerenovations and almost every unit includes vinyl flooring, paint touchups, andupgraded light fixtures. Upside still exists with the units as they currentlyfeature older appliances, cabinetry, and countertops. The owner currently paysall utilities. Upon lease turnover, a new owner could increase the yearlyincome of the property by just under $200,000 by charging the tenants forelectricity as the units are already separately metered. Pricing guidance is$17,000,000 - $101K/unit and an in-place 5.63% cap rate.

Property Information
Year Built:
Square Feed:
Year Renovation:
Investment Highlights
  • Low average rent per unit compared to comps
  • Buyer can instantly implement an electricity billback system for tenants as the units are already individually metered
  • Amenities include a pool, basketball court, tennis court, package service, business center
  • Property manager and maintenance on site
  • 99% of units have had renovations of vinyl flooring, paint touchups, and upgraded light fixtures
  • Includes additional 47 acres of land that is free and clear and is zoned for residential

Contact the Team
Audley Clarke
Senior Associate, Investment Sales
View profile
Samuel R. Finkler
Senior Vice President, Investment Sales
View profile

Recently Closed Deals

see all deals
Exclusive Listings
See All listings