1322 E 7th St - Apartments FOR SALE


Odessa, TX 79761
$2,650,000 USD
432-638-7202
1322 E 7th St, Odessa, TX for Sale
$2,650,000 USD
Apartments - FOR SALE
1/17
null | 7.29% Cap Rate

1322 E 7th St
Odessa, TX 79761


OVERVIEW

Sierra Ridge, part of the Odessa Four Pack portfolio, offers investors a stabilized, cash-flowing asset with historical occupancy above 90% and low turnover, reflecting strong operations and resident satisfaction. Over $1.57M in recent capital improvements ($510K at Sierra Ridge alone) have enhanced functionality, curb appeal, and long-term value through upgrades such as unit renovations, roof replacements, and exterior enhancements. With no new multifamily construction in the market, the portfolio is well-positioned to benefit from limited future supply, supporting sustained demand, high occupancy, and rent growth potential.

FOR SALE DETAILS

PRICE

$2,650,000 USD

PRICE/SF

$141 USD /SF

# OF UNITS

32

PRICE/UNIT

$82,813

CAP RATE

7.29%

% LEASED

81%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sierra Ridge

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1966

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.21 AC

LAND SF

52,708 SF

ZONING

MF

APN/PARCEL ID

27750-01050-00000

ASK ABOUT THIS PROPERTY

Sam ParsleyACR MultifamilyMore Info
432-638-7202

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Sam ParsleyACR MultifamilyMore Info
432-638-7202

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