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- LoopNet Team
E Highway 80
Midland, TX 79706
Extended Stay Housing · Multifamily Property For Sale
·
82,063 SF
INVESTMENT HIGHLIGHTS
- This is a prime workforce housing investment opportunity in Midland, Texas supporting a potential explosion in area industry growth.
- The units are fully furnished and on-site maintenance is available.
- Great visibility in a high vehicle traffic area off of Highway 20 makes for easy of access.
- Located 15 minutes northeast of Midland along a key commercial corridor for drilling and related businesses.
PROPERTY FACTS
| No. Units | 238 | Building Size | 82,063 SF |
| Property Type | Multifamily | Average Occupancy | 94% |
| Property Subtype | Manufactured Housing/Mobile Home | No. Stories | 1 |
| Building Class | B | Year Built | 2018 |
| Lot Size | 23.79 AC |
| No. Units | 238 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Building Class | B |
| Lot Size | 23.79 AC |
| Building Size | 82,063 SF |
| Average Occupancy | 94% |
| No. Stories | 1 |
| Year Built | 2018 |
ABOUT E HIGHWAY 80 , MIDLAND, TX 79706
The property sits in a prime location in Midland Texas, focusing on workforce housing for the Permian Basin, one of the most active drilling regions in the country. The U.S Energy Information Administration expects Permian Basin crude oil production to peak at over 5.5 million barrels per day in the early 2030’s, with around 80 percent of an individual shale well’s lifetime production occurring in the first two years. The sheer size of the Permian means that drilling must continue at an extremely high rate to increase overall output from where it currently stands at 4.1 million barrels per day. While this high level of drilling will require growing support from numerous related industries, there are currently 10 pipeline construction projects underway that will allow an estimated 7-8 million bpd to flow from the Permian Basin to the Gulf of Mexico upon completion in 2020. In order to accommodate that, this portfolio makes for a tremendous opportunity. Additional information including pricing, offering memorandum, and location of two additional sites is available upon request. The seller is open to potential owner-financing or small carry back.
