Multifamily
The Paddocks Apartments
2100 E 10th St, Odessa, TX 79761
Listing Price: Request For Offer
Investment Overview
The Paddocks Apartments represents a rare opportunity to acquire a stabilized, renovated asset in Odessa, Texas, a city currently serving as the operational heartbeat of the Permian Basin—the #1 producer of oil and gas in the United States. As of early 2026, the Odessa economy continues to outperform national averages, bolstered by a regional GDP that has expanded consistently and a labor force that reached record highs in 2025. With major employers like Halliburton, Saulsbury Company, and the Ector County Independent School District providing a deep and diverse tenant base, the demand for mid-market, garden-style housing remains resilient. The Odessa apartment market has seen steady rent growth, with average monthly rents for one-bedroom units reaching approximately $1,147, offering a compelling yield spread for investors looking to capitalize on a market defined by high energy-sector wages and a 1.6%–2.5% annual job growth rate. Furthermore, this acquisition is structured as a lender-approved short sale, providing a rare entry point at a high-going-in cap rate and a projected yield that significantly outperforms current market averages.
The Paddocks Apartments
Investment Highlights
- Unique Short Sale Opportunity: Rare acquisition through a court-supervised bankruptcy sale, offering a streamlined path to purchase from ownership currently in liquidation.
- High-Yield Potential: Attractive CAP rate with significant upside potential to improve the property through strategic interior upgrades and enhanced operational efficiencies.
- Robust Rent Growth: Positioned to capitalize on strong rent growth within the dynamic Odessa market, driven by steady demand and the region's expanding energy and industrial sectors.
- Pristine Condition: Turn-key asset with minimal deferred maintenance; the property is exceptionally clean and well-maintained, allowing for immediate cash flow with low initial CAPEX.
- Competitive Basis: Offered at a highly attractive price per unit that sits well below recent comparable market sales, providing a low-basis entry point in a high-demand submarket.
Exclusively Listed By
Listing Price: Request For Offer
Investment Highlights
- Unique Short Sale Opportunity: Rare acquisition through a court-supervised bankruptcy sale, offering a streamlined path to purchase from ownership currently in liquidation.
- High-Yield Potential: Attractive CAP rate with significant upside potential to improve the property through strategic interior upgrades and enhanced operational efficiencies.
- Robust Rent Growth: Positioned to capitalize on strong rent growth within the dynamic Odessa market, driven by steady demand and the region's expanding energy and industrial sectors.
- Pristine Condition: Turn-key asset with minimal deferred maintenance; the property is exceptionally clean and well-maintained, allowing for immediate cash flow with low initial CAPEX.
- Competitive Basis: Offered at a highly attractive price per unit that sits well below recent comparable market sales, providing a low-basis entry point in a high-demand submarket.
Investment Overview
The Paddocks Apartments represents a rare opportunity to acquire a stabilized, renovated asset in Odessa, Texas, a city currently serving as the operational heartbeat of the Permian Basin—the #1 producer of oil and gas in the United States. As of early 2026, the Odessa economy continues to outperform national averages, bolstered by a regional GDP that has expanded consistently and a labor force that reached record highs in 2025. With major employers like Halliburton, Saulsbury Company, and the Ector County Independent School District providing a deep and diverse tenant base, the demand for mid-market, garden-style housing remains resilient. The Odessa apartment market has seen steady rent growth, with average monthly rents for one-bedroom units reaching approximately $1,147, offering a compelling yield spread for investors looking to capitalize on a market defined by high energy-sector wages and a 1.6%–2.5% annual job growth rate. Furthermore, this acquisition is structured as a lender-approved short sale, providing a rare entry point at a high-going-in cap rate and a projected yield that significantly outperforms current market averages.
Exclusively Listed By
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