3665 Dixie Blvd - Apartments FOR SALE


Odessa, TX 79762
$3,500,000 USD
432-638-7202
3665 Dixie Blvd, Odessa, TX for Sale
$3,500,000 USD
Apartments - FOR SALE
1/9
null | 7.34% Cap Rate

3665 Dixie Blvd
Odessa, TX 79762


OVERVIEW

Ponderosa Villas, 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 ($558,000 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

$3,500,000 USD

PRICE/SF

$106 USD /SF

# OF UNITS

45

PRICE/UNIT

$77,778

CAP RATE

7.34%

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ponderosa Villas

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1977

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.63 AC

LAND SF

27,443 SF

ZONING

Multifamily

APN/PARCEL ID

07200-03120-00000

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.