|Catylist Listing ID:
|Number of Units:
|Building Size (RSF):
|Gross Building Area:
||$675,000 - 800,000
||$42,187.50 Per Unit
|Property Use Type:
Overview / Comments
This is an ideal property for either a local investor wanting to expand their portfolio in San Angelo or a newer investor wanting to get started in multifamily. It’s maintained strong occupancy and has all classic, unrenovated units. If you stabilized current operations, the projected IRR by year 5 is 19.3%.
There is strong upside on rents if you did decide to completely renovate the units. Also, the tenants aren’t currently charged for water. Other than implementing RUBS, there are several ways to reduce expenses especially on water savings and getting repairs and maintenance in line with the market. If you implemented the value add plan, the projected IRR by year 5 is 26.0%.
Attachments & Media
||Greenwood Apartments is located is San Angelo, TX. The population of San Angelo is close to 103,000. Top Employers in the area include Goodfellow Air Force Base, Shannon Health Care System, and Angelo State University. The property is located west about 1 mile west of Highway 87, which is a main north/south street through San Angelo, and across the street from Fannin Elementary School.
|Total Number of Buildings:
|Number of Stories:
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