1203 S Gail Ave - Apartments FOR SALE


Monahans, TX 79756
$8,950,000 USD
628-222-2123
1203 S Gail Ave, Monahans, TX for Sale
$8,950,000 USD
Apartments - FOR SALE
1/8
null | 9% Cap Rate

1203 S Gail Ave
Monahans, TX 79756


OVERVIEW

Build in 2014, great central location in Permian basin. Next to schools, restaurants, freeway entrance. 100% occupied, 60% under master lease till Oct 2026 with $48000 annual rent increase due in September. Great cash flowing property with onsite live in manager. All units come with basic furniture, great for corporate leases. Rising rents, 4-year utilities contract, potential to increase income by monetizing laundries. 9 CAP deal on T6 current financials , 10 CAP on a 6 months pro forma. 7.75 CAP on T12.

FOR SALE DETAILS

PRICE

$8,950,000 USD

PRICE/SF

$142 USD /SF

# OF UNITS

56

PRICE/UNIT

$159,821

CAP RATE

9%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2014

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.01 AC

LAND SF

87,556 SF

ZONING

B1

APN/PARCEL ID

0004790,0707298,0707299,0707300,0707301,0707302,0707303,0707304,0707305,0707306,0707307,0707308,0707309,0707310

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Art DrozdArthur DrozdMore Info
628-222-2123

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Art DrozdArthur DrozdMore Info
628-222-2123

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.