Skip to main content

Multifamily

Santa Rita Homes

1306 12th Street, Big Lake, TX 76932

Listing Price: $4,895,000

Cap Rate
7.22%
Number of Units
31
Occupancy
90.0%
Price/Unit
$157,903

Investment Overview

Marcus & Millichap is pleased to announce the exclusive listing of Santa Rita Homes located in Big Lake, Texas. Santa Rita Homes are centrally positioned in the heart of Big Lake and directly adjacent from Reagan County High School. Constructed in 2016, the property consists of 10 buildings and situated on 1.90 acres with a total of 31 units and offers an attractive and unique opportunity for income growth potential for a new investor. This 31-unit asset is composed of 13 one-bedroom units and18 two-bedroom /two-bath units. The current ownership has a strong historical rent roll and provides housing for the natural energy providers and servicers in the area. With one-bedroom monthly rents averaging $1,215 and two-bedroom monthly rents averaging $1,870 this offers a new investor a quality asset in the heart of Texas' oil and gas market.

Investment Highlights

  • Oil and Gas Property
  • Historically High Occupancy
  • NOI Over $343,000

Exclusively Listed By

Financing By

Listing Price: $4,895,000

Cap Rate
7.22%
Number of Units
31
Occupancy
90.0%
Price/Unit
$157,903

Investment Highlights

  • Oil and Gas Property
  • Historically High Occupancy
  • NOI Over $343,000

Investment Overview

Marcus & Millichap is pleased to announce the exclusive listing of Santa Rita Homes located in Big Lake, Texas. Santa Rita Homes are centrally positioned in the heart of Big Lake and directly adjacent from Reagan County High School. Constructed in 2016, the property consists of 10 buildings and situated on 1.90 acres with a total of 31 units and offers an attractive and unique opportunity for income growth potential for a new investor. This 31-unit asset is composed of 13 one-bedroom units and18 two-bedroom /two-bath units. The current ownership has a strong historical rent roll and provides housing for the natural energy providers and servicers in the area. With one-bedroom monthly rents averaging $1,215 and two-bedroom monthly rents averaging $1,870 this offers a new investor a quality asset in the heart of Texas' oil and gas market.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower