TOTAL renovation completed in February 2025. 17-unit complex with a proforma NOI of ~122k, and selling at a CAP rate of 10.9%. This property has all new plumbing from the street and inside of the units. It has all new electrical, and each unit has an energy efficient ~22 SEER mini split system. All units have new waterproof laminate, bathrooms, kitchens and full bathrooms!
This property is perfect for individuals, workers, or small families. Rent ranges anywhere from 800-1300 a unit depending on the size.
There is even a single-family home on the property in great condition with a carport. We have started to lease up the property but we are willing to stop or continue based on buyer's preference. This is an all bills paid property with internet costing a total of $60 a month wired to each unit. New Stoves, refrigerators and mini splits are included in the sale.
Property also has a washer and dryer room that is available to be hooked up to add more income. With the new Port to Plains Initiative, increased demand for oil and proximity to Midland and Odessa, this is a great opportunity! Please text 801-787-1675 for more info!