5776 Daniel Dr Beaumont, TX 77705

Property Details for 5776 Daniel Dr

Year built

1979

Property size

129,815 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a 168-unit apartment complex, Country Village, situated on a substantial 14.5-acre lot (634,189 sq ft) in Beaumont, Texas, with an additional 44 adjacent acres offering significant potential. Built in 1979 and extensively renovated in 2020 ($750,000 CapEx), the property boasts a 95% occupancy rate, exceeding the local market average. The 12 two-story buildings encompass 129,815 square feet and feature a mix of one, two, and three-bedroom units. Amenities include two swimming pools, tennis and basketball courts, and a dog park. A separate leasing office and laundry facilities are also available. The property currently generates a Net Operating Income (NOI) of $1,139,365, with a pro-forma NOI of $1,295,224 projected. This translates to a current cap rate of 7.35% and a pro-forma cap rate of 8.36%. The property benefits from a Fannie Mae loan assumption opportunity with a 4.38% fixed interest rate until 2034, featuring interest-only payments until September 2025. The loan balance is $12 million. The seller is actively implementing $100 monthly rental increases or activating separate utility meters, projected to increase NOI by $180,000. Additional value-add opportunities exist through rent increases to market rates (potential $20,000 monthly increase), billing back utilities (cable, internet, water, sewer – potential $278,000 annual increase), and developing the additional acreage for further expansion. The area boasts a median household income of $108,000. This property offers a compelling combination of strong current performance, significant upside potential, and an attractive financing option.