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Park Terrace & Tower Arms Apartments 1102 Sherman Ave 114 Unit Apartment Building For Sale Levelland, TX 79336
Investment Highlights
- Resume and/or business letter indicating assets owned
- Interested prospective investors should be aware that the owner of the property is selling the property in as-is
Executive Summary
Property Description
Park Terrace and Tower Arms Apartments is a 114 unit complex located in Levelland, TX directly north of South Plains College. It was built in 3 Phases: Park Terrace, Tower Arms North, and Tower Arms South. The current ownership has done very well and has maintained strong operations, providing a new owner the opportunity for a stabilized product. Historic occupancy in the mid-high 90s proves there is further room for organic rent growth. This is one of the few opportunities on the market to buy a well-located property, at a great cap rate, with additional upside.
To review the financials follow this link: https://buildout.com/website/1576606-sale
Park Terrace and Tower Arms Apartments is a 114 unit complex located in Levelland, TX directly north of South Plains College. It was built in 3 Phases: Park Terrace, Tower Arms North, and Tower Arms South. The current ownership has done very well and has maintained strong operations, providing a new owner the opportunity for a stabilized product. Historic occupancy in the mid-high 90s proves there is further room for organic rent growth. This is one of the few opportunities on the market to buy a well-located property, at a great cap rate, with additional upside.
To review the financials follow this link: https://buildout.com/website/1576606-sale
Property Facts
| Sale Type | Investment | Lot Size | 7.42 AC |
| No. Units | 114 | Building Size | 102,875 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1960 |
| Building Class | C |
| Sale Type | Investment |
| No. Units | 114 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 7.42 AC |
| Building Size | 102,875 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1960 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
Site Amenities
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Tenant Controlled HVAC
- Maintenance on site
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | R5108 | Improvements Assessment | $1,372,547 CAD |
| Land Assessment | $18,742 CAD | Total Assessment | $1,391,289 CAD |
Property Taxes
Parcel Number
R5108
Land Assessment
$18,742 CAD
Improvements Assessment
$1,372,547 CAD
Total Assessment
$1,391,289 CAD
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Park Terrace & Tower Arms Apartments | 1102 Sherman Ave
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