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Houston Arms & Sierra Blanca 2 Multifamily Properties Offered at $3,375,000 in Odessa, TX
EXECUTIVE SUMMARY
Houston Arms & Sierra Blanca, 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 ($550K at Houston Arms & Sierra Blanca 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.
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- Offering Memorandum
PROPERTY FACTS
| Price | $3,375,000 | Number of Properties | 2 |
| Price / SF | $99.37 / SF | Individually For Sale | 0 |
| Cap Rate | 7.86% | Total Building Size | 33,965 SF |
| Sale Type | Investment | Total Land Area | 1.12 AC |
| Status | Active |
| Price | $3,375,000 |
| Price / SF | $99.37 / SF |
| Cap Rate | 7.86% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 33,965 SF |
| Total Land Area | 1.12 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Sierra Blanca
1001 W 19th St, Odessa, TX 79763 |
Multifamily | 18,278 SF | 1957 | - |
|
Houston Arms Apartments
1200 N Lee Ave, Odessa, TX 79761 |
Multifamily | 15,687 SF | 1961 | - |
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