1010 Magnolia St, Freeport, TX 77541 For Sale

PREMIER LOCATION IN ONE OF HOUSTON MSA’S SMALLEST SUBMARKETS BY UNIT COUNT

The Remington is adjacent to the Port of Freeport, making it the most well-located property within this low-density submarket. The Port of Freeport is undergoing a $295 million improvement project and is set to become the deepest port on the Gulf Coast. Employers such as Freeport LNG, Enterprise Products, Phillips 66, Exxon, Tenaris, and various others

all have significant operations in Freeport. Furthermore, Volkswagen opened their new Gulf Coast hub directly across Highway 288 from The Remington, which is a $114 millioninvestment and is set to import and process 140,000 vehicles annually. The Remington is walking distance from Freeport Elementary and is minutes from both Freeport Middle

School and Brazosport Highschool.

The Remington is located within the South Brazoria County submarket, which spans from Pearland to Freeport. Despite its geographic size, the submarket contains approximately

13,000 market-rate units – one of the smallest in the MSA. The nearest comparable is Sienna Villa, which is 2 miles from Remington. The next closest comparables are located in

Clute, which is 6+ miles from Remington. These properties are fully stabilized despite not benefiting from proximity to the port.

STRATEGICALLY LOCATED INVESTMENT WITH CONTINUED GROWTH POTENTIAL

Current ownership has completed $2.2 million of capital expenditures, which leaves minimal deferred maintenance, if any, for new ownership. Moderate renovations have been completed to all units, which gives new ownership the option to operate the property as-is or complete full renovations with new appliances, in-unit washer/dryer connections,

granite countertops, modern fixtures, and other premium finishes.

Areas along State Highway 6 and Highway 288 have emerged as new growth corridors due to relative affordability and strong transportation access. Over the past decade, population in communities such as Alvin and Manvel has more than doubled. The Remington benefits from minimal development in Freeport and remains affordable despite major

expansion within the Port of Freeport, among other developments such as the Volkswagen plant.

NEW VOLKSWAGEN PLANT IN FREEPORT

In late 2024, The Volkswagen Group of America announced the opening of a new vehicle processing and port facility at Port Freeport in Freeport, Texas. The project represents an investment of about $114 million and creates more than 110 direct jobs, along with additional employment in trucking, rail, and shipping operations. The facility will be able to

import and process up to 140,000 vehicles each year for brands including Audi, Bentley, Lamborghini, Porsche, and Volkswagen. It will support around 300 dealerships across the central and western United States. The new hub replaces two smaller logistics facilities previously located in Houston and Midlothian, Texas. Wider shipping channels at Port

Freeport allow the company to use larger liquefied natural gas (LNG) vessels, helping advance its sustainability goals. The location also improves logistics efficiency by providing easier access to rail and trucking transportation. Additionally, Volkswagen partnered with Brazosport College to develop a logistics training program that prepares local workers

for careers in vehicle logistics and distribution.