MULTIFAMILY | TX | SALE PRICE: $5,000,000
RealINSIGHT Marketplace is pleased to announce the sale of Village Place Apartments in Odessa, TX.
Marketplace teamed up with Greysteel to sell this value-add multifamily complex; ultimately bringing eight unique bidders to auction with a final sales price of $5,000,000.
Village Place Apartments is a 100-unit multifamily complex that was built in 1971 and was 83% occupied at the time of sale. The complex consists of 13 2-story buildings on 2.1 acres. With over 90% of the units having two or more bedrooms, the new owners can add substantial value by increasing occupancy alone.