Multi Family in Odessa--Questions
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!
Most Popular Reply
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!!!