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2575 Primrose St

12 Unit Apartment Building $720,000 ($60,000/Unit) Beaumont, TX 77703

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Investment Highlights

Newly Renovated Units
Investment Opportunity

Lots of Natural Light

Executive Summary

Well established 12 plex on the SE Corner of Primrose Street and Steelton Street and just off of Concord in Beaumont, TX.
50% occupied and up for Lease as of 9/12/24
New Roof with WPI8
All 2BR/1BA
All completely renovated between 2022 and 2024
Units 7-12 are currently vacant as this building suffered a fire in December of 2023(units 9/12). All items have been repaired to City of Beaumont Code and Engineer stamped.
Units are now for lease at $895.00 per month
Zoned GCMD
Current Appraisal at $780,000
Asking $720,000.00

Offering Memorandum Primrose Apartments

Zoning Map Primrose Apts

2575 Primrose Aerial PDF

2575 Primrose FEMA

2575 Primose Survey (1)

Financial Summary (Actual - 2023)	Annual	Annual Per SF
Gross Rental Income	$74,585	$9.42
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$74,585	$9.42
Taxes	$11,536	$1.46
Operating Expenses	$7,941	$1.00
Total Expenses	$19,477	$2.46
Net Operating Income	$55,108	$6.96

Financial Summary (Actual - 2023)

Gross Rental Income
Annual	$74,585
Annual Per SF	$9.42

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$74,585
Annual Per SF	$9.42

Taxes
Annual	$11,536
Annual Per SF	$1.46

Operating Expenses
Annual	$7,941
Annual Per SF	$1.00

Total Expenses
Annual	$19,477
Annual Per SF	$2.46

Net Operating Income
Annual	$55,108
Annual Per SF	$6.96

Property Facts

Price	$720,000	Apartment Style	Low Rise
Price Per Unit	$60,000	Building Class	C
Sale Type	Investment	Lot Size	0.43 AC
Sale Conditions	High Vacancy Property	Building Size	8,400 SF
No. Units	12	Average Occupancy	50%
Property Type	Multifamily	No. Stories	2
Property Subtype	Apartment	Year Built/Renovated	1964/2024

Price	$720,000
Price Per Unit	$60,000
Sale Type	Investment
Sale Conditions	High Vacancy Property
No. Units	12
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	0.43 AC
Building Size	8,400 SF
Average Occupancy	50%
No. Stories	2
Year Built/Renovated	1964/2024