2604 Avenue K
Bay City, TX 77414
Raystone Apartment Homes · Immeuble residentiel Propriété À vendre · 33 Unités

Marcus and Millichap is pleased to present Raystone Apartment Homes, a 33-unit multifamily community located in Bay City, Texas, approximately 65 miles south of
Houston.
Raystone was developed in two phases by the current ownership. Phase I, consisting of 12 units, was completed in May 2018. Phase II delivered an additional 21 units in
June 2020, bringing the property to a total of 33 units across three two-story buildings situated on 1.97 acres. With an average unit size of 1,038 square feet, the
community offers large, modern floor plans with premium finishes throughout, including quartz countertops, stainless steel appliances, faux wood flooring, 9-foot
ceilings with crown molding, smartcode keyless entry, and full-size washers and dryers in every unit.
The property offers a buyer the opportunity to assume the current Fannie Mae loan at a fixed interest rate of 4.89% with a maturity date of April 1, 2031. This attractive
long-term financing provides below-market debt and interest rate certainty, enhancing cash flow stability and overall returns in the current lending environment.
Bay City is a supply-constrained market supported by major regional employers, including South Texas Project Nuclear with approximately 1,200 jobs and Tenaris Bay
City with roughly 700 jobs. In addition, several industrial expansions and infrastructure projects are expected to bring more than 2,000 construction workers and over
225 permanent jobs to the area in the near term, further strengthening local housing demand.
With newer construction, high-quality finishes, limited direct competition, and favorable financing in place, Raystone Apartment Homes represents a compelling
opportunity to acquire a stable, institutional-quality asset with durable cash flow and long-term growth potential.