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Suites at Big Spring 1712 E 3rd St 16 Unit Apartment Building $2,500,000 ($156,250/Unit) 5.78% Cap Rate Big Spring, TX 79720
Investment Highlights
- Great Location near College and Interstate
- Plenty of Parking
- All Brand Units with Washer/Dryer
Executive Summary
Highlights:
? Fully renovated in 2023 – new systems, interiors, and Fire Marshal approved
? 16 fully leased 2BR units – modern finishes with in-unit washer/dryers
? 7% cap rate on current income – clean rent roll
? Pro forma supports a $3.27M valuation at market rents
? Fully renovated in 2023 – new systems, interiors, and Fire Marshal approved
? 16 fully leased 2BR units – modern finishes with in-unit washer/dryers
? 7% cap rate on current income – clean rent roll
? Pro forma supports a $3.27M valuation at market rents
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $156,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.88 AC |
| Cap Rate | 5.78% | Building Size | 18,356 SF |
| Sale Condition | Build to Suit | Average Occupancy | 100% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1969/2024 |
| Property Subtype | Apartment |
| Price | $2,500,000 |
| Price Per Unit | $156,250 |
| Sale Type | Investment |
| Cap Rate | 5.78% |
| Sale Condition | Build to Suit |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.88 AC |
| Building Size | 18,356 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1969/2024 |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 16 | - | 750 |
Property Taxes
| Parcel Number | 300891 | Improvements Assessment | $175,886 (2025) |
| Land Assessment | $16,020 (2025) | Total Assessment | $191,906 (2025) |
Property Taxes
Parcel Number
300891
Land Assessment
$16,020 (2025)
Improvements Assessment
$175,886 (2025)
Total Assessment
$191,906 (2025)
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Presented by
VasTree Real Estate
Suites at Big Spring | 1712 E 3rd St
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