Regency Townhouse
24 Unit Apartment Building | For Sale | Midland, TX 79705
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
- Property Type
-
Multifamily
- Square Feet
- 48,000 SF
Listing Contacts
Sean Scott
Verified Profile
Ryan Quaid
Verified Profile
- Property Info
Property Overview
Regency Apartments is a 24-unit, market-rate multifamily community located in the city of Midland, TX. The property was built in 1982 and is comprised of two, two-story brick buildings with flat roofs. The townhouse-style units feature two-bedroom floor plans with an area of over 2,000 square feet each. Interior amenities include fully equipped kitchens, individual air conditioning and heat, vaulted ceilings, skylights, a fireplace, and washer and dryer connections. The apartment buildings are situated on a sizeable corner lot, and the common areas feature a swimming pool, courtyard, and assigned covered parking. Residents enjoy the property’s centralized location close to Midland College, within walking distance of shops and restaurants.
Property Details
- Class
- B
- Year Built
- 1982
- Stories
- 2
- Units
- 24
Highlights
- Rent Upside - management is pushing rents with renewals and additional upside through renting washers and dryers
- 35-Year Owned Asset - Regency has been well maintained over the course of ownership and has clear upside. The pitched roofs were replaced last June.
- Robust Market - Midland has lowest unemployment in the state at 2.6% & is fastest growing job market in the state at 4.6%.
- Affluent Neighborhood - Homes in area sell for ~$500,000. This is one of the most desired neighborhoods in the city.
- Irreplaceable Location - Median Household Income in a one-mile radius is $83,677.
Nearby Properties
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