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.
