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Flexible 4-Unit Property Opportunity 2400 College Ave 4 Unit Apartment Building $400,000 ($100,000/Unit) Midland, TX 79701
Investment Highlights
- 4-unit quadplex totaling approximately 2,499 SF
- Listed for sale at $400,000 with an 8% pro forma cap rate
- Flexible rental opportunity for long-term, Airbnb, or short-term rental use
- Each unit includes 1 bed / 1 bath at approximately 625 SF
- Located in Midland, Texas, in the heart of the Permian Basin
- Seller may assist with up to 6% of closing costs; property management in place
Executive Summary
2400 College Avenue presents a unique multifamily investment opportunity in Midland, Texas, offering four 1 bedroom / 1 bathroom units totaling approximately 2,499 square feet. Positioned in an established neighborhood, the property provides investors with multiple income strategies, including long-term rentals, short-term rental conversion, or an Airbnb-focused operating model.
The asset is located in one of Texas’s strongest energy-driven markets, where workforce housing, contractor demand, and corporate travel continue to support rental demand. With a stated pro forma cap rate of 8%, seller willingness to negotiate closing costs, and property management already in place, this offering is positioned for investors seeking cash flow, upside, and operational flexibility.
The asset is located in one of Texas’s strongest energy-driven markets, where workforce housing, contractor demand, and corporate travel continue to support rental demand. With a stated pro forma cap rate of 8%, seller willingness to negotiate closing costs, and property management already in place, this offering is positioned for investors seeking cash flow, upside, and operational flexibility.
Property Facts
| Price | $400,000 | Building Class | C |
| Price Per Unit | $100,000 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 2,499 SF |
| No. Units | 4 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1948 |
| Apartment Style | Single-Family Home | ||
| Zoning | SF2 - Single-Family Dwelling 2 | ||
| Price | $400,000 |
| Price Per Unit | $100,000 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 2,499 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1948 |
| Zoning | SF2 - Single-Family Dwelling 2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
1 1
Fairly walkable
50/100
Very drivable
80/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | R000014-001 | Improvements Assessment | $256,360 |
| Land Assessment | $14,000 | Total Assessment | $270,360 |
Property Taxes
Parcel Number
R000014-001
Land Assessment
$14,000
Improvements Assessment
$256,360
Total Assessment
$270,360
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Flexible 4-Unit Property Opportunity | 2400 College Ave
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