608 Avenue MSan Angelo, TX 76903

Property Details for 608 Avenue M

Year built

1968

Property type

Apartment buildings

Description

This 24-unit apartment building in San Angelo, Texas, presents a compelling value-add investment opportunity. The property, located at 608 W Ave M, boasts 10,656 square feet of net rentable space, spread across a two-story building constructed in 1968. Each of the 24 units features one bedroom and one bathroom. Approximately half of the units have recently undergone upgrades, including new windows and sinks. The property offers significant upside potential through the implementation of a currently out-of-commission laundry room, generating additional income. Further enhancement opportunities exist through the adoption of a RUBS (Renters Utility Billing System) allocation for utilities, potentially offsetting operational expenses. This centrally located property provides convenient access to major employers, Angelo State University, Shannon West Texas Medical Center, and Goodfellow Air Force Base, all within a nine-minute radius. The property is situated off Highway 87 in a city with a population exceeding 100,000. This asset is priced at $1,100,000, or $45,833 per unit, and is available for purchase individually or as part of a package deal that includes an additional 10-unit apartment building located nearby. Detailed financial information is available upon request.

Location Insight

City

San Angelo

County

Tom Green

State

Texas

Latitude

31.4443

Longitude

-100.444

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