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Oak Haven Apartments 2910 Old Lane City Rd 48 Unit Apartment Building For Sale Wharton, TX 77488
INVESTMENT HIGHLIGHTS
- Huge value-add potential with filling vacancy, conversion of additional weekly rental units and adding full-time professional property management
EXECUTIVE SUMMARY
Discover Oak Haven Apartments, an exceptional opportunity to own an income-producing asset in the growing community of Wharton, Texas. Built in 1982 and situated on 3.01 acres, this garden-style complex features 48 spacious units across two stories, totaling approximately 39,541 square feet of space. Under current ownership, 33 units have been extensively renovated with modern upgrades, including new countertops, tile flooring, appliances, plumbing, and fixtures—making the property highly competitive within the local rental market. The unit mix includes a variety of 1, 2, and 3-bedroom floor plans, designed to accommodate a wide range of tenant demographics. Key amenities such as on-site laundry facilities, ample parking, and included utilities (water and garbage) appeal to renters seeking convenience and value. In addition, three units have been successfully converted into short-term rentals to meet the needs of transient workers, including oilfield personnel—offering additional income flexibility. An additional ~21k sf lot along the frontage is included in the sale, which could support building up to an additional 16 units in the future. Located within the Rio Posada subdivision, Oak Haven enjoys proximity to local schools, shopping centers, and major highways, enhancing its appeal to long-term residents and commuters alike. With consistent cash flow and room for further income optimization, Oak Haven Apartments represents a compelling blend of stability and upside. Whether you're looking to expand your multifamily portfolio or enter the market with a proven asset, this property delivers immediate performance and long-term potential.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 3.49 AC |
| No. Units | 48 | Building Size | 39,541 SF |
| Property Type | Multifamily | Average Occupancy | 98% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1982/2023 |
| Building Class | C | Parking Ratio | 1.49/1,000 SF |
| Zoning | R4 - Multifamily | ||
| Sale Type | Investment |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.49 AC |
| Building Size | 39,541 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built/Renovated | 1982/2023 |
| Parking Ratio | 1.49/1,000 SF |
| Zoning | R4 - Multifamily |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Ceiling Fans
- Tile Floors
- Kitchen
- Tub/Shower
- Vinyl Flooring
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Tenant Controlled HVAC
- Furnished Units Available
- Trash Pickup - Curbside
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | 654 |
| 2+1 | 36 | - | 778 |
| 3+2 | 4 | - | 1,000 |
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PROPERTY TAXES
| Parcel Number | R022606 | Improvements Assessment | $1,305,220 |
| Land Assessment | $60,280 | Total Assessment | $1,365,500 |
PROPERTY TAXES
Parcel Number
R022606
Land Assessment
$60,280
Improvements Assessment
$1,305,220
Total Assessment
$1,365,500
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Oak Haven Apartments | 2910 Old Lane City Rd
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