1 / 224-Unit Multifamily in Beeville, TX
Bee County, TX · listed Aug 27, 2026 (62 days)
- $/unit
- $76,042
- ▼ 17% vs TX · 37th pct
- Cap rate
- 7.9%
- ▲ 0.5 pts vs TX median
- NOI
- $145K
- $6,021/unit/yr
- Units
- 24
- 6 bldg · 1980
Financials
- Asking price
- $1,825,000
- Price per unit
- $76,042
- Price per sq ft
- $77
- Gross rent / year
- $251,712avg rent × units
- Net operating income
- $144,506
- NOI per unit
- $6,021
- Cap rate
- 7.9%
- Gross yield
- 13.8%gross rent ÷ price
- Occupancy
- 80%
As stated by the seller. Verify during due diligence.
Building
- Units
- 24
- Unit mix
- Not stated
- Buildings
- 6
- Year built
- 1980
- Building size
- 23,760 sq ft
- Avg unit size
- 990 sq ft
- Lot size
- 2 acres
- Condition
- Value-add
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- Aug 27, 2026
- Days on market
- 62 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- Approximate (~0.5 mi)
- Listing #
- 1633
About this property
The Thomas Apartments is a 24-unit value-add multifamily community at (address on request)reet in Beeville, Texas, built in 1980 on just under 2 acres. All units are 990 SF two-bed/one-bath layouts across six two-story buildings, with durable metal roofs, separately metered electric, and washer/dryer connections in every unit. In-place rents average $874 against a $950 market, and 46% of units are already leased at $900, validating the lift is achievable on normal turnover. Bringing the bottom of the rent roll up and stabilizing from 80% physical occupancy executes the value-add play. Beeville's economy is anchored by recession-resistant employers (TDCJ McConnell Unit roughly 540 staff, Coastal Bend College, Beeville ISD, Eagle Ford Shale energy) plus the 1,491-acre Chase Field Industrial Complex five miles from downtown. With effectively no new multifamily supply in the local pipeline, the rent gap closes on its own merits.
Multifamily | 7.92% CAP | 24 Units
Highlights
- Attractive Returns: 7.92% Year 1 cap, $76,000/door, 15.20% Levered IRR
- Validated Mark-to-Market: 46% of units already at $900, proving the $950 market rent
- Operator-Driven Upside: $77/unit rent gap and 21% vacancy from a passively held asset
- Recession-Resistant Tenants: TDCJ McConnell (roughly 540 staff), Coastal Bend College, Eagle Ford energy
- Durable Construction: Six two-story buildings, metal roofs, separately metered electric, W/D connections in every unit
- Limited New Supply: Effectively no new multifamily deliveries in the Beeville pipeline
- Growth Anchor: 1,491-acre Chase Field Industrial Complex five miles from downtown
- Strategic Location: US-181 / US-59 corridor between Corpus Christi, San Antonio, and Austin
Location
Approximate area. The exact address is shared on request.
Similar buildings nearby
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|---|---|---|---|
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