24-Unit Multifamily in Beeville, TX

Sebastian Estates is a rare opportunity to acquire a 24-unit multifamily property in Beeville at an attractive $73,333 per door at a 8.26% proforma cap rate. The combination of basis, in-place income, and a clearly executable value-add path makes this a fundamentals-driven acquisition rather than a speculative one.

In-place rents average $855 against a market of $950. This gap translates to roughly $27,360 in annual NOI from rent normalization alone, before accounting for the 12% vacancy lift. Critically, the proof is already on the rent roll: 42% of units are leased at $900, validating that market rent in this submarket is real, not aspirational. Bring the bottom of the rent roll up through a normal 12 to 18 month rollover cycle, stabilize occupancy, and the proforma is self-executing.

Twenty-four large 2-bed/1-bath units at 814 sf each. All single-level (no stairs, no shared walls above or below), which is a genuine retention advantage in a working-class tenant market where older households and families with small children actively self-select toward this layout. Durable metal roofs reduce capex exposure on the most expensive component of the building envelope. Separately metered power push energy expenses to tenants, protecting the operating ratio. Sits on 1.07 acres with on-site parking.

Beeville's economy is anchored by employers that don't move with the cycle. The TDCJ McConnell Unit alone employs roughly 540 people, with multiple additional state correctional facilities nearby. Coastal Bend College, Beeville ISD, and Eagle Ford Shale-related oil and gas operations round out the employment base. The 1,491-acre Chase Field Industrial Complex five miles from downtown, with an 8,000-ft runway and 90,000 sf hangar capacity, is the city's long-term growth engine. National retail (HEB, Walmart Supercenter) and an active 2025 city development pipeline (three approved economic development agreements covering new housing, retail, and entertainment) signal continued reinvestment in the local economy.

Strategically positioned on the US-181 / US-59 (future I-69) corridor between Corpus Christi, San Antonio, and Austin. Unlike the saturated major Texas metros where new deliveries are still pressuring rents, Beeville has effectively no new multifamily supply in the pipeline. That means the rent gap closes on its own merits.

Stable in-place income with built-in NOI growth, recession-resistant employment anchors, a basis well under replacement cost, and an asset profile (single-level, separately metered power, durable roof) that minimizes operational drag. Perfect for an engaged and focused operator. Suitable for a 1031 exchange or a first multifamily acquisition.

Multifamily | 8.26% CAP | 24 Units