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Aspen Square 1705 S 3rd St 48 Unit Apartment Building $2,348,025 ($48,917/Unit) 8% Cap Rate Abilene, TX 79602
INVESTMENT HIGHLIGHTS
- Total of 48 units across the portfolio
- Mix of layouts: 1-bed/1-bath, 2-bed/1-bath, 3-bed/2-bath, 3-bed/1-bath
EXECUTIVE SUMMARY
Aspen Square and Rosemont offer a strong value add opportunity in a growing, underserved market. Built in 1924 and 1960, the 48 unit portfolio features a mix of one, two, and three bedroom layouts. With 15 units down (10 from fire damage at Aspen and 5 from water damage at Rosemont), the portfolio can be acquired at a low basis and repositioned through renovation. This is a chance to stabilize, lease up, and deliver updated market rate housing in an area with strong demand and limited supply, unlocking long term upside for the right investor.
To view the financials, follow this link: https://buildout.com/website/1548635-sale
To view the financials, follow this link: https://buildout.com/website/1548635-sale
PROPERTY FACTS Under Contract
| Price | $2,348,025 | Apartment Style | Garden |
| Price Per Unit | $48,917 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.13 AC |
| Cap Rate | 8% | Building Size | 27,320 SF |
| No. Units | 48 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $2,348,025 |
| Price Per Unit | $48,917 |
| Sale Type | Investment |
| Cap Rate | 8% |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.13 AC |
| Building Size | 27,320 SF |
| No. Stories | 2 |
| Year Built | 1960 |
| Opportunity Zone |
Yes |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- Courtyard
- Laundry Facilities
- Grill
- Pet Play Area
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | - | 680 |
| 2+1 | 28 | - | 750 - 1,050 |
| 3+2 | 4 | - | 1,040 |
| 3+1 | 4 | - | 1,250 |
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PROPERTY TAXES
| Parcel Number | 56986 | Improvements Assessment | $236,853 |
| Land Assessment | $46,147 | Total Assessment | $283,000 |
PROPERTY TAXES
Parcel Number
56986
Land Assessment
$46,147
Improvements Assessment
$236,853
Total Assessment
$283,000
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Aspen Square | 1705 S 3rd St
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