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911 University Ave
Huntsville, TX 77320
Blue Sky Apartments · Multifamily Property For Sale
·
43 Units
Executive Summary
Blue Sky Apartments presents an opportunity to acquire a 42-unit multifamily community in the heart of Huntsville, Texas, offered at just $71,310 per unit. Spanning three buildings at 911, 913, and 916J University Avenue. The property features a diverse unit mix of studios, one-bedroom, and two-bedroom floor plans with current rents ranging from $685 to $995 per month, supported by additional income streams including RUBS, laundry, and pet fees. With zero bad debt recorded over the past 12 months and a lean, self-managed expense structure, Blue Sky Apartments has demonstrated consistent and reliable cash flow.
Strategically located in the Sam Houston State University submarket, the property benefits from strong, stable rental demand driven by the university's growing enrollment and Huntsville's expanding workforce base. The current 92.9% occupancy rate, combined with three vacant units ready for immediate lease up, presents a clear value add opportunity to push the asset to full stabilization from day one. With no property management fees currently reflected in the financials, a new owner utilizing professional management has built in upside while still maintaining an attractive return profile. This is a well positioned, income-producing asset that checks every box for investors seeking strong yield, stable cash flow, and long-term upside in a growing Texas market.
Strategically located in the Sam Houston State University submarket, the property benefits from strong, stable rental demand driven by the university's growing enrollment and Huntsville's expanding workforce base. The current 92.9% occupancy rate, combined with three vacant units ready for immediate lease up, presents a clear value add opportunity to push the asset to full stabilization from day one. With no property management fees currently reflected in the financials, a new owner utilizing professional management has built in upside while still maintaining an attractive return profile. This is a well positioned, income-producing asset that checks every box for investors seeking strong yield, stable cash flow, and long-term upside in a growing Texas market.
Property Facts
| Price Per Unit | $69,651 | Lot Size | 1.16 AC |
| Sale Type | Investment | Building Size | 31,175 SF |
| Cap Rate | 9.53% | Average Occupancy | 90% |
| No. Units | 43 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1971 |
| Property Subtype | Apartment | Parking Ratio | 1.68/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Building Class | C |
| Price Per Unit | $69,651 |
| Sale Type | Investment |
| Cap Rate | 9.53% |
| No. Units | 43 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.16 AC |
| Building Size | 31,175 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built | 1971 |
| Parking Ratio | 1.68/1,000 SF |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Ceiling Fans
- Tile Floors
- Refrigerator
- Oven
- Range
- Carpet
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 14 | $822.50 | 210 - 580 |
| 2+1 | 27 | $875.00 | 742 - 1,007 |
| Studios | 2 | $705.00 | - |
Property Taxes
| Parcel Number | 29908 | Improvements Assessment | $1,845,470 |
| Land Assessment | $63,220 | Total Assessment | $1,908,690 |
Property Taxes
Parcel Number
29908
Land Assessment
$63,220
Improvements Assessment
$1,845,470
Total Assessment
$1,908,690
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