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2400 Buffalo Gap
Abilene, TX 79605 ·

170 Units · Multifamily For Sale

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Highland Oaks Apartments

Price N/A Property Sub-type Mid/High-Rise
No. Units 170 Property Use Type Investment
Building Size 173,111 SF Cap Rate 7.06%
Property Type Multifamily
Listing ID: 16184739 Date Created: 04/08/2009 Last Updated: 09/29/2009

Description

The Highland Oaks Apartments are a 170-unit residential community located at 2400 Buffalo Gap Road in Abilene, Texas. Developed in 1973, Highland Oaks is comprised of 24 one-bedroom units, 106 two-bedroom units and 40 three-bedroom units with an attractive average unit size of 1,018± square feet. The units are situated throughout 26 two-story buildings over 9.2 acres. The current street rents at the property average $525 per unit or $0.52 psf. Through simple management improvements, Highland Oaks can be positioned to compete effectively with it' s surrounding competition and become a long-term, constant performing asset in one of the state' s most stable secondary markets.

Highland Oaks is an attractive two-story community strategically located in Southwest Abilene in close proximity to many of Abilene' s major employers and retail centers. The offering of this 170-unit asset provides investors a true value-add opportunity investment.

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2400 Buffalo Gap, Abilene, TX 79605 (Taylor County)

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