• Description
  • Details
Lancaster Cornwall is a 265-unit garden apartment community located in the desirable west submarket of Beaumont, Texas which is 90 miles east of Houston. The property was built in 1967, enjoys an excellent location at the intersection of two major thoroughfares and presents investors with a true value add opportunity.

Lancaster Cornwall has 224 units (out of 265) with lightly renovated interiors which received new flooring, two-tone paint and a mixture of new appliances between 2010 and 2013.

Exterior renovations were made in 2009 and included exterior paint, upgraded signage, leasing office and tree trimming.

In 2013, the property received the following additional exterior renovations: asphalt overlay, exterior carpentry work and screen replacements.

The community offers a variety of Efficiency, 1, 2, 3 and 4 bedroom floorplans ranging in size from 300 to 1,374 SF. Average floorplans are 850 SF. Current occupancy is 97%.

Located at the intersection of Phelan Blvd. and Dowlen Rd., the property is 2.5 miles west of Interstate 69/96/287 and Interstate 10. Residents are within 3.5 miles to Parkdale Mall and 5.4 miles from the Port of Beaumont. Other major employment facilities nearby include; Christus St. Elizabeth Hospital (2.5 miles), Baptist Hospitals of Southeast Texas (4.0 miles), and Lamar University (7.6 miles).

A new owner has the opportunity to increase revenue by implementing interior renovations, curing exterior deferred maintenance and adding amenities / amenity upgrades.

Lancaster Cornwall Apartments is an exceptional value-add opportunity to capitalize on a vintage asset with deferred maintenance and benefitting from an excellent location.

  • Property Type : Multi-Family
  • Class : C
  • Property Size : 225253
  • Year Built : 1969
  • Stories : 2
Lupe Olivares

Vice President

Houston, Texas

+1 (713) 272-1290

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Edward Cummins

Vice President

Houston, Texas

+1 (713) 272-1288

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  • Exterior (4)
  • Interior (5)
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Available Space (1)

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Lancaster Cornwall 225,253 Sale