Beaumont, TX

Beaumont, TX
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About the property

168 multi-family units for sale in Beaumont, Texas with an attractive assumable loan at 75% LTV, 4.38% interest rate, over two years of remaining IO, and 30-year am. The existing units have undergone renovations and almost every unit includes vinyl flooring, paint touchups, and upgraded light fixtures. Upside still exists with the units as they currently feature older appliances, cabinetry, and countertops. The owner currently pays all utilities. Upon lease turnover, a new owner could increase the yearly income of the property by just under $200,000 by charging the tenants for electricity as the units are already separately metered. Pricing guidance is $16,000,000 -$95K/unit and an in-place 6.30% cap rate.

Property Information
Year Built:
Square Feed:
Year Renovation:
Investment Highlights
  • The seller is offering an $800,000 seller credit on the purchase price of $16,000,000
  • 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
Contact the Team
Samuel R. Finkler
Senior Vice President, Investment Sales
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