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Blue Sky Apartments 911 University Ave 43 Unit Apartment Building $4,121,360 CAD ($95,846 CAD/Unit) 9.53% Cap Rate Huntsville, TX 77320
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 | $4,121,360 CAD | Building Class | C |
| Price Per Unit | $95,846 CAD | 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
|
| Price | $4,121,360 CAD |
| Price Per Unit | $95,846 CAD |
| 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 | $1,132 CAD | 210 - 580 |
| 2+1 | 27 | $1,204 CAD | 742 - 1,007 |
| Studios | 2 | $970.14 CAD | - |
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Moderately walkable
60/100
Very drivable
80/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 29908 | Improvements Assessment | $2,539,514 CAD |
| Land Assessment | $86,996 CAD | Total Assessment | $2,626,510 CAD |
Property Taxes
Parcel Number
29908
Land Assessment
$86,996 CAD
Improvements Assessment
$2,539,514 CAD
Total Assessment
$2,626,510 CAD
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Blue Sky Apartments | 911 University Ave
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