28-Unit Multifamily in Beeville, TX
Bee County, TX · listed May 2, 2025 (544 days)
- $/unit
- $80,000
- ▼ 13% vs TX · 39th pct
- Cap rate
- 8.5%
- ▲ 1.1 pts vs TX median
- NOI
- $191K
- $6,819/unit/yr
- Units
- 28
- 6 bldg · 1976
Financials
- Asking price
- $2,240,000
- Price per unit
- $80,000
- Price per sq ft
- $111
- Gross rent / year
- $303,408avg rent × units
- Net operating income
- $190,932
- NOI per unit
- $6,819
- Cap rate
- 8.5%
- Gross yield
- 13.5%gross rent ÷ price
- Occupancy
- Not stated
As stated by the seller. Verify during due diligence.
Building
- Units
- 28
- Unit mix
- Not stated
- Buildings
- 6
- Year built
- 1976
- Building size
- 20,140 sq ft
- Avg unit size
- 719 sq ft
- Lot size
- 1.64 acres
- Condition
- Stabilized
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- May 2, 2025
- Days on market
- 544 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- Approximate (~0.5 mi)
- Listing #
- 1483
About this property
Lifestyles is pleased to present Reagan Road Apartments, a 28-unit multifamily asset spread across six well-maintained buildings totaling 20,140(+/-) square feet of net rentable area. Situated on 1.643 acres, the property offers a low-density layout with ample space for residents. Originally constructed in ~1976, the buildings have retained their structural integrity and classic charm. Verified 2025 NOI of $190,931 reflects 22% year-over-year growth, and the asset is offered at an actual cap rate above 8.5% on trailing financials — well above the current market range for the surrounding submarket. In-place rents remain below area averages, leaving embedded upside for a new owner.
Verified NOI Growth, In-Place Rent Upside, and Zero New Supply
Highlights
- Priced at an 8.52% actual cap rate on verified 2025 NOI
- Verified NOI grew 22% year-over-year (2024 to 2025) on trailing financials
- In-place average rent of $903/unit trails the Beeville-area average, supporting rent-growth upside
- 2.9% occupied (26/28 units) with stable, low-turnover tenancy
- Zero new multifamily supply in the Beeville construction pipeline
- Anchored by stable area employers: TDCJ McConnell Unit, Coastal Bend College, CHRISTUS Health
Location
Approximate area. The exact address is shared on request.
Similar buildings nearby
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|---|---|---|---|
 Beeville, TXHigh yieldStabilized | $960K | $80K$80K | 7.5% |
 Beeville, TXHigh yieldValue-add | $1.82M | $76K$76K | 7.9% |
 Beeville, TXHigh yieldStabilized | $1.2M | $60K$60K | 8.6% |
 Beeville, TXHigh yieldValue-add | $1.76M | $73K$73K | 8.3% |
 Three Rivers, TX | $2.19M | $78K$78K | 3.9% |
 Three Rivers, TXHigh yieldStabilized | $1.2M | $60K$60K | 8.1% |