ADD Twin‑Build Opportunity — 403 W Broad St, Freeport, TX
Turnkey 8‑Unit; Land to Double Units
Marketing description
403 W Broad St is a turnkey, income‑producing low‑rise multifamily asset offering immediate cash flow and a clear, low‑risk path to scale. The existing 8‑unit property (six long‑term leases, two short‑term rentals) sits on a generous ~21,000 SF lot with room to construct a matching twin building (~7,168 SF). Completing the twin build would double rentable area to ~14,336 SF and increase total units to 16, delivering meaningful NOI growth and long‑term value creation. Presented by WinHill Advisors Kirby Executive Commercial Team, this offering combines current yield with near‑term development upside in a strengthening Brazoria County submarket.
Value‑Add & Execution Roadmap
Site Expansion: Commission a site plan and feasibility study to document the addition of up to 8 units and accelerate buyer confidence.
STR Optimization: Standardize STR operations and compile performance metrics to lock in premium revenue.
Amenity & Operational Upside: Implement low‑cost amenity upgrades and consolidate operating records to support proforma assumptions and reduce due diligence friction.
Market Validation: Collect recent submarket comps to validate rent‑up assumptions for both existing and proposed units.
Investment highlights
Investment Highlights
Price: Offered at $995,000
Immediate Cash Flow: Turnkey 8‑unit operation with stable LTR income and premium STR revenue.
Scalable Development: Site supports a twin building (~7,168 SF) to add ~8 units and double rentable area.
Attractive Unit Economics: Value per door (8 units): $93,750; conservative proforma shows substantial NOI uplift post‑build.
Market Tailwinds: Rising rents and household incomes in Freeport/Brazoria County; strong tenant demand and solid traffic/visibility for leasing.
Operational Optionality: Mix of LTR + STR provides downside protection and revenue diversification.
Clear Execution Plan: Preliminary construction estimate $125/SF (prelim.); target construction 2028 with stabilization 2029.
10‑Year Exit Strategy: Hold through stabilization with modeled sale in year 10 showing material value uplift.
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