Investment Overview

Marcus & Millichap is pleased to announce the listing of the Kermit Apartments, located in Kermit, Texas. This property is located within the Central Basin Platform of the Permian Basin, one of the largest sedimentary basins in the United States which offers high demand for this apartment complex. Multiple oil and gas companies have set up operations in Kermit such as Shell, Anadarko Petroleum, and Crosby Energy. This property has a total of 16 units which consist of 10 two-bedroom units and six one-bedroom units. This property is located just off the main thoroughfare of Austin Street at the intersection of Ash St and Waco St. This property currently operates at 100 percent occupancy, and the owner has updated all flooring, kitchens, and sewer lines to the property. Each unit comes equipped with a washer/dryer. Tenants are currently responsible for electricity, while the owner pays for water and sewer. Kermit is located off Highway 302 which runs from Pecos to Odessa offering tenants a short drive to neighboring cities with strong economic opportunities. Kermit is also improving the infrastructure and has a $55.5 million project overpass to facilitate ease of passage for heavy oilfield trucks, which will help increase the area's energy business sector. This exclusive investment opportunity offers double-digit, cash-on-cash return in a small but stable market.