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2500 W 26th St
Plainview, TX 79072
Edgemere Apartments · Multifamily Property For Sale
·
40 Units
INVESTMENT HIGHLIGHTS
- Multiple Value - Add Avenues
- Low Basis with Going-in Cash Flow
- Under Market Rents
EXECUTIVE SUMMARY
The Go-Getters Multifamily Team is proud to present the Edgemere Apartments, a 40-unit complex located in Plainview, TX. Originally constructed in 1959, the property is comprised primarily of two-bedroom units. Edgemere Apartments offers multiple value-add opportunities, including the ability to capture an estimated $140 rent increase through the renovation and modernization of all remaining classic units. This property represents a strong opportunity for those looking to significantly enhance NOI through interior upgrades.
PROPERTY FACTS
| Price Per Unit | $50,134 | Building Class | C |
| Sale Type | Investment | Lot Size | 2.21 AC |
| Cap Rate | 8% | Building Size | 40,713 SF |
| No. Units | 40 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1959 |
| Apartment Style | Low-Rise | Parking Ratio | 1.04/1,000 SF |
| Zoning | N/A | ||
| Price Per Unit | $50,134 |
| Sale Type | Investment |
| Cap Rate | 8% |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.21 AC |
| Building Size | 40,713 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 1.04/1,000 SF |
| Zoning | N/A |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Refrigerator
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Courtyard
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | 740 |
| 2+1 | 23 | - | 740 |
| 2+1.5 | 16 | - | 930 |
PROPERTY TAXES
| Parcel Number | 15375 | Improvements Assessment | $848,158 |
| Land Assessment | $59,866 | Total Assessment | $908,024 |
PROPERTY TAXES
Parcel Number
15375
Land Assessment
$59,866
Improvements Assessment
$848,158
Total Assessment
$908,024
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