Raystone Apartment Homes — Sale in Bay City, TX

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Bay City, TX 77414

Description

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. Investment Highlights: • Opportunity to assume an existing Fannie Mae loan at a fixed 4.89% interest rate with maturity on 4/1/2031, providing long-term rate stability • Newer construction quality with

Market Context

This multifamily in Bay City, TX is listed for sale. It has been on the market for 114 days. Compare it against other multifamily listings for sale in Bay City, TX — view the full market.

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