Multi Family in Odessa--Questions

[Austin Hughes]

I'm looking at a small-mid sized multifamily purchase in Odessa, TX near Odessa College. These are by a busy road, which can be a plus for walking, but a negative for road noise. Nothing fancy--bare amenities, including window units (no central AC). But all are kept in good repair, and clean.

I am soaking up information as much as I can.

Things on my mind:

• What is a good cost per unit for studio apartments? what about 1 br apartments?
• What is a good rent for studio & 1 br apartments (sized 320 sqft and 450 sqft)?
• Are there good property managers in Odessa?
• For a C-Class apartment, what is a standard cap rate in Odessa right now?

Tag your West Texas friends!

THANKS!

[Gerardo Mazariegos]

Call local apartments with similar sq ft and compare prices! Rent in Odessa has gone up by 35% the last couple months and is projected to keep going up as more work increases due to oil field! Good luck!!!