Investment Overview

Marcus & Millichap is pleased to announce the exclusive listing of Spring Creek Apartments, a 34 unit apartment complex offered free and clear in Midland, Texas. The property is centrally located with convenient access to all the main attractions and thoroughfares. The apartment complex is located with proximity to Loop 520, Interstate 20, and Midland Executive Airpark (MDD) giving the future residents easy access to the oil fields or retail developments for entertainment. Spring Creek Apartments is currently 100 percent vacant and offers investors a “blank canvas” to rehab all units and deliver renovated units to future tenants. Midland, Texas is an active city located in West Texas and serves as the midway point between El Paso and Dallas/Fort Worth. In the midsize city class, Midland came in as the second fasted growing city in 2018 as a result of its thriving job market and cost of living. The population of Midland is estimated at 136,089 which makes it the 25th largest city in Texas with median household income as $88,210 with a median population age of 32.1 years. Midland is located in the center of the Permian Basin which is home to 16 percent of the country’s oil reserves and is the largest oil production region in America. Large corporations such as Chevron and Chesapeake Energy conduct business in Midland and helped the city gain 6,000 in just one year. Midland will continue to provide companies a competitive work environment which encourages more development within the city.