This turnkey multi-family property, built in 2014, offers a prime location in the heart of the Permian Basin, surrounded by schools, restaurants, and major freeway access. The asset is fully occupied, with 60% of the units secured under a master lease through October 2026. A $48,000 annual rent increase is scheduled to take effect in September, enhancing the already strong cash flow.
An onsite live-in manager ensures smooth operations, and all units come furnished, making the property especially attractive for corporate leasing. With rising rents in the area, a four-year utilities contract already in place, and additional income potential from monetizing the laundry facilities, this is a rare opportunity to invest in a stable, high-performing asset. The property delivers a 9% CAP rate based on current T12 financials, a 10% CAP on a T6 , and a 11 CAP on 6 months pro forma.