Available For Sale - Multifamily

71,742 SF | Show Pricing $

LISTED BY

Greg Brownd
The Go-Getters Multifamily with KW Commercial, 806-771-7701

AVAILABILITY DETAILS

Size
71,742 SF
Price/SF
Show Pricing $
Listing ID
SA544130
Notes
The 130-units of the Pecan & Villa Apartments are comprised of two communities that are operated together as one. The 80-units at the Pecan Apartments were built in 1984 while the 50-units at the Villa Apartments were built in 1972. The properties consist of 1-3 bedroom floorplans, two on-site laundry rooms, one leasing office and two shimmering pools. Since taking ownership back in 2013, the current owners have updated all of the interior units and roofs to highlight some of the substantial capex completed. The property's high occupancy speaks to the basic economics of the limited supply of this product type compared to the high demand for workforce housing within the market.



The city of Monahans is located south of Lubbock and is directly off of Interstate-20 which runs from the Dallas-Fort Worth metroplex through Abilene, Midland, and Odessa before reaching El Paso, TX. About a 40-minute drive from Odessa, Monahans itself is known as the "Center of the Permian Basin." The Permian Basin is responsible for more than 60% of Texas' oil production and it is home to 16% of the U.S. oil reserves. Outside of mining, other top industries include healthcare, transportation/warehousing, food services/sales and more. The median household income in Monahans is $65,438.
Uses
Multifamily

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Greg Brownd, The Go-Getters Multifamily with KW Commercial
BRE# 596497