Ashford Odessa Square 222 N Dixie Blvd 108 Unit Apartment Building For Sale Odessa, TX 79761

OPEN HOUSE DATES - TUESDAY, JUNE 30TH, 2026 - 11:00 AM THRU 1:00 PM C.S.T.
WEDNESDAY, JULY 8TH, 2026 - 11:00 AM THRU 1:00 PM C.S.T.
AUCTION DATE: JULY 15TH, 2026
Houston Income Properties, Inc. and KET Enterprises Incorporated are excited to serve as exclusive advisors to the seller, presenting qualified investors with the opportunity to acquire the fee-simple interest in Ashford Odessa Square Apartments—a 108-unit garden-style apartment complex in Odessa, Texas. The property also features a 101-unit mini-storage facility housed in three separate buildings. The property is being offered for sale at auction on the RiMarketplace platform. The sale is on an "all-cash" basis; the buyer will be responsible for arranging any new financing.
Situated in Odessa, the heart of the Permian Basin, Ashford Odessa Square Apartments lies within the largest oil and gas-producing region in the United States and the fourth largest globally. In the last few years, the property has undergone extensive repairs and upgrades costing approximately $15,400 per unit, which includes about $790,000 in exterior enhancements and $862,000 in interior improvements. Upgrades vary by unit and include new flooring,
appliances, HVAC systems, granite countertops, carpet, cabinet doors, blinds, and upgraded fixtures. According to the owner, 50% of the units have been upgraded, resulting in a $50 rent premium for these enhanced units.
All units are equipped with individual HVAC systems, with approximately 50% replaced in recent years, as well as individual hot water heaters, of which about 33% have also been updated. Additionally, many appliances have been replaced, highlighting the potential for further appreciation through continued exterior and interior improvements, strong management, and stabilization of income.
The property features a three-building, 101-unit storage facility, of which current management has leased approximately 21 units. This presents a significant opportunity for new ownership to enhance occupancy and revenue. With continued improvements and focused management strategies, the storage facility can achieve much higher occupancy levels and income flow than currently experienced.