REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 2,400,000
Est. payment | /mo
$ 2,400,000
Est. payment | /mo
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26-3673
Year Built 1970
Source Amarillo Association of REALTORS®
Property Description
Oak Terrace Apartments presents a value-add multifamily investment opportunity located in close proximity to Highway 385 and Highway 84 at 1100 S Wicker Avenue in Littlefield, Texas. The property generated approximately $238,940 in trailing NOI on $340,126 in total income, supporting a 9.96% cap rate.
The property consists of 45 units and is currently operating at approximately 93% occupancy with strong collections and consistent income performance. Current ownership has maintained the asset, but rents remain below market averages, creating an opportunity for investors to increase NOI through strategic rent adjustments.
The property consists of 45 units and is currently operating at approximately 93% occupancy with strong collections and consistent income performance. Current ownership has maintained the asset, but rents remain below market averages, creating an opportunity for investors to increase NOI through strategic rent adjustments.
Location
State TX
County Lamb
Area 6000 - S & W Of Randall
Zoning 6000 - All areas in the 6000's
Direction South on Wicker property is on the left.
Listed Kirk Chudej • FIMC Commercial Realty
Nearby Locations