Multi-Family•Low-Rise/Garden•For Sale

Mesquite Village Apartments

509 Avenue S, Post, Texas 79356

Sale Price $775,000
Sale Type Investment
Year Built 1976
Stories 1
Vacancy 96%
Gross Bldg 20,086 SqFt
Land Area 2.84 Acres
Project Size 24
Market West Texas
Sub-Market Post
Legal Descr AB 333 SEC 1231 BLK 55 J V MASSEY 2.84 ACRES 2.84 ACRES
Mesquite Village Apartments is a 24 unit complex made up of 12 brick, one-story duplexes. The property currently has high occupancy and there are no concessions now so that indicates that there is room to increase the rents. Electricity and water are separately metered and tenants pay all of their utilities. There is a limited supply of market-rate multifamily units in the area. Most of the interior units have been updated and have had new flooring installed. The roofs were replaced in 2016. Post Texas is the county seat of Garza County. It's located 40 miles southwest of Lubbock, 110 miles northeast of Midland, and 125 miles northwest of Abilene, TX.
  • 9.2% cap rate on Sept T12 financials
  • One-story brick construction duplexes
  • Limited supply of market rate product
  • No current rent concessions
  • High occupancy
11/18/2019 8:52:28 PM 1/22/2020 5:39:16 PM
Greg Brownd
KW Commercial | Lubbock


Human? type 389 below...
dummy toaster to trick _toastr script loaded by scripts.js Show Default