400 N Cedar Ave | Levelland, TX 79336
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- LoopNet Team
400 N Cedar Ave
Levelland, TX 79336
64 Unit Multifamily | 87% Leased | $253k NOI · Multifamily Property For Sale
·
64 Units
Investment Highlights
- 400 North Townhomes is an 87% leased, 64-unit apartment community that received $3 million in significant interior and exterior improvements.
- Development potential for 40+ new units with parking is included in this lot, marking the market’s first brand-new inventory in over a decade.
- Conveniently near the South Plains College, the Mallet Event Center, the Levelland-Oxy Sports Complex, and the city’s largest employers.
- Current rents lag 16% behind the greater market, allowing a new owner to bring rates up to the market average with minimal upfront expenditure.
- Added revenue can be generated with washer/dryer rentals, the addition of a pet park and pet rent, and the creation of leasable covered parking.
- Positioned near national retailers like Walmart Supercenter, United Supermarkets, Starbucks, McDonald’s, Verizon, and many more.
Property Facts
| No. Units | 64 | Lot Size | 6.00 AC |
| Property Type | Multifamily | Building Size | 62,558 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1974/2019 |
| Building Class | C | Parking Ratio | 2.08/1,000 SF |
| No. Units | 64 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 6.00 AC |
| Building Size | 62,558 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1974/2019 |
| Parking Ratio | 2.08/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Heating
- Tile Floors
- Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
- Yard
- Freezer
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Property Manager on Site
- Tenant Controlled HVAC
- Maintenance on site
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | - | 752 |
| 2+1 | 24 | - | 952 |
| 3+1.5 | 31 | - | 1,122 |
Property Taxes
| Parcel Number | R11918 | Improvements Assessment | $1,674,076 |
| Land Assessment | $73,350 | Total Assessment | $1,747,426 |
Property Taxes
Parcel Number
R11918
Land Assessment
$73,350
Improvements Assessment
$1,674,076
Total Assessment
$1,747,426
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