4100 W Illinois Ave | Midland, TX 79703
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- LoopNet Team
4100 W Illinois Ave
Midland, TX 79703
Westwood Villas · Multifamily Property For Sale
·
52 Units
Investment Highlights
- Westwood Villas offers investors an opportunity to own an asset in great condition with luxury finish outs.
- he Property sits adjacent to the intersection of W. Illinois Avenue and Midland Drive, which offers easy and convenient access to food & gas.
- The properties of similar vintage and finish outs in the West Midland submarket are achieving far superior rents, averaging approximately $1.80/SF
- The Property provides tenants with spacious floor plans and premium interiors including granite countertops, stainless steel appliances, washer/drier.
- The current ownership/management at Westwood Villas has not capitalized on turning expiring leases into new leases at higher market rents.
Property Facts
| No. Units | 52 | Building Size | 60,331 SF |
| Property Type | Multifamily | Average Occupancy | 96% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 2013 |
| Building Class | B | Parking Ratio | 0.98/1,000 SF |
| Lot Size | 2.13 AC | ||
| Zoning | LR2 - It generally allows for low-rise residential development, which might include single-family homes, duplexes, and sometimes low-density multi-family un | ||
| No. Units | 52 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 2.13 AC |
| Building Size | 60,331 SF |
| Average Occupancy | 96% |
| No. Stories | 3 |
| Year Built | 2013 |
| Parking Ratio | 0.98/1,000 SF |
| Zoning | LR2 - It generally allows for low-rise residential development, which might include single-family homes, duplexes, and sometimes low-density multi-family un |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Disposal
- Storage Space
- Washer/Dryer Hookup
- Ceiling Fans
- Crown Molding
- Hardwood Floors
- Stainless Steel Appliances
- Carpet
- Patio
- Wheelchair Accessible (Rooms)
- Window Coverings
Site Amenities
- Picnic Area
- Playground
- Grill
- Online Services
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 575 |
| 2+2 | 37 | - | 773 - 920 |
| 3+2 | 7 | - | 990 - 1,069 |
Property Taxes
| Parcel Number | R000035-915 | Improvements Assessment | $6,065,080 |
| Land Assessment | $372,520 | Total Assessment | $6,437,600 |
Property Taxes
Parcel Number
R000035-915
Land Assessment
$372,520
Improvements Assessment
$6,065,080
Total Assessment
$6,437,600
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