Multifamily Investment Opportunity
Price
$6,100,000
Exclusive Off-Market Opportunity – Asking $6.1MM
We are thrilled to present a unique investment opportunity in Beaumont, Texas, at 4365 S 4th St, 77705. This property not only offers a compelling blend of current income generation and significant development potential but also a value-add opportunity through operational turnaround.
Property Photos: https://www.dropbox.com/scl/fo/enmbq7pcamaa0uojw4m9z/h?rlkey=767sioe3ejfj45czs2uyx32od&e=1&dl=0
Financials: https://www.dropbox.com/scl/fo/mmci9buge5ubdamzv61ya/h?rlkey=9u5bcwuu9nuvfnjst8yulqh2v&e=1&dl=0
Exclusive Off-Market Opportunity – Asking $6.1MM
We are thrilled to present a unique investment opportunity in Beaumont, Texas, at 4365 S 4th St, 77705. This property not only offers a compelling blend of current income generation and significant development potential but also a value-add opportunity through operational turnaround.
Key Highlights:
Asking Price: $6.1 Million
Earnest Money Requirement: $50,000 to secure this exceptional deal.
Year Built: 1958, featuring reliable copper wiring.
Units: 100 Total. The unit mix comprises (4) 1-bed/1-bath units at 600 sqft, (92) 2-bed/1-bath units at 800 sqft, and (2) 4-bed/2-bath units at 1,276 sqft; one unit is currently utilized as an office.
Occupancy and Value-Add: 50% of units are occupied, with the property currently experiencing negative cash flow. The primary value-add opportunity lies in increasing occupancy levels to turn operations profitable, positioning this asset back in the black.
Development Potential: Permission in place to build 50 additional units, offering significant upside potential.
Lot Size: 11.4 Acres (497,019 sqft) with a dwelling size of 77,730 sqft.
Rehab Estimate: $700,000, with a remodel range from $2,000 to $18,000 per unit. The heavy turns are less than 12 units, with the remainder being "make readies," each needing some degree of work.
Utilities: HVAC provided by window units. The roof is in condition for use but recommended for replacement in 3-5 years.
Financials: Taxes are $54,436.60. The property is currently self-insured.
This investment proposition is not merely about acquiring real estate; it's about harnessing the potential to revitalise and transform. The pathway to profitability is clear: enhancing occupancy rates. With half of the units currently vacant, the upside in improving operational efficiency and tenant occupancy is substantial.
The current owner's strategy was initially to flip the property; however, shifts in the market now present a ripe opportunity for an investor ready to implement a turnaround strategy. Whether your focus is on completing the necessary remodels to boost occupancy or on taking advantage of the development potential to expand, this property stands as a beacon of opportunity amidst Beaumont's evolving landscape.
Investment Rationale: Grab the chance to turn around a property with immediate revenue generation capabilities and extensive development options. With significant scope for operational improvement and expansion, this deal offers a unique mixture of short-term recovery and long-term growth prospects.
Submit Your Offer: Direct all offers to investments@promiselandrealtyllc.com. We invite you to
peruse the financials and explore the property photos available via Dropbox. This is your opportunity to invest in a project with vast potential for positive cash flow and significant appreciation.
For comprehensive details, access to financial documents, and the latest rent roll insights, reach out directly. Step into the future of Beaumont, Texas – where your investment can turn challenges into profitable ventures.
Property Map
"YOUR #1 SOURCE FOR OFF MARKET INVESTMENT PROPERTIES, NATIONWIDE"
PROMISE LAND REALTY, LLC
Work: 864-762-2509
All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. You do NOT HAVE PERMISSION to market this property WITHOUT EXPRESSED WRITTEN CONSENT. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. Realtors/Brokers add your fee on top.