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Ponderosa Villas 3665 Dixie Blvd 45 Unit Apartment Building $3,350,000 ($74,444/Unit) 7.67% Cap Rate Odessa, TX 79762
EXECUTIVE SUMMARY
Ponderosa Villas, part of the Odessa Four Pack portfolio, offers investors a stabilized, cash-flowing asset with historical occupancy above 90% and low turnover, reflecting strong operations and resident satisfaction. Over $1.57M in recent capital improvements ($558,000 at Sierra Ridge alone) have enhanced functionality, curb appeal, and long-term value through upgrades such as unit renovations, roof replacements, and exterior enhancements. With no new multifamily construction in the market, the portfolio is well-positioned to benefit from limited future supply, supporting sustained demand, high occupancy, and rent growth potential.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $3,350,000 | Apartment Style | Low-Rise |
| Price Per Unit | $74,444 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.63 AC |
| Cap Rate | 7.67% | Building Size | 33,120 SF |
| No. Units | 45 | Average Occupancy | 96% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1977 |
| Zoning | Multifamily | ||
| Price | $3,350,000 |
| Price Per Unit | $74,444 |
| Sale Type | Investment |
| Cap Rate | 7.67% |
| No. Units | 45 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.63 AC |
| Building Size | 33,120 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built | 1977 |
| Zoning | Multifamily |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Walk-In Closets
- Freezer
- Patio
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Picnic Area
- Maintenance on site
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 16 | - | 600 |
| 1+1 | 29 | - | 750 |
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PROPERTY TAXES
| Parcel Number | 07200-03120-00000 | Improvements Assessment | $303,244 |
| Land Assessment | $8,756 | Total Assessment | $312,000 |
PROPERTY TAXES
Parcel Number
07200-03120-00000
Land Assessment
$8,756
Improvements Assessment
$303,244
Total Assessment
$312,000
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Ponderosa Villas | 3665 Dixie Blvd
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