5680 Concord RdBeaumont, TX 77708

Concord Manor, a stabilized Class C multifamily investment property located at 5680 Concord Rd, Beaumont, TX 77708, presents a compelling opportunity. This 68-unit apartment building, totaling 38,694 square feet, sits on a 2.27-acre lot and boasts a 95% occupancy rate. Built in 1976 and extensively renovated in 2022, the property comprises four two-story buildings. The recent renovations included new vinyl flooring, countertops, cabinets, and appliances in the majority of units. All air conditioning units were upgraded in 2022, and the roof was replaced within the last five years. Adding to its appeal, Concord Manor features a newly constructed leasing office and laundry facility equipped with owner-owned machines. Its prime location offers exceptional convenience, being less than a mile from Parkdale Mall and major retailers, and approximately eight miles from Lamar University. The asking price is $3,675,000, translating to $54,044 per unit and $94.98 per square foot. This property offers a strong return on investment with its high occupancy, recent upgrades, and desirable location. The property is for sale by owner.