Willow Park Apartments

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Address: 2410 N Willis St, Abilene, TX 79603, USA
Created date: July 10, 2024
Date last updated: July 10, 2024
  • Attractive going-in cap rate offers strong initial returns
  • Strategic location near I-20 provides excellent accessibility and visibility
  • Management-driven value-add opportunity through operational improvements due to current owner being out-of-state
  • Proximity to three universities with over 10,000 students drives housing demand
  • Major employers and Abilene's population growth contribute to stable rental demand

Property Description

Willow Park presents an exceptional investment opportunity in Abilene, Texas. This 41-unit multifamily property is a prime example of a management-driven value-add opportunity. Currently cash flow positive, Willow Park promises substantial upside potential through improved operations and strategic enhancements. The property's out-of-state ownership situation creates a unique opening for local expertise to significantly boost returns, with the potential to achieve double-digit cash flow.Located just 1/3 mile south of I-20, Willow Park enjoys excellent accessibility in a growing West Texas market. Abilene's diverse economy, supported by three universities, Dyess Air Force Base, and major healthcare employers, ensures a stable demand for quality housing. The property's solid fundamentals, including 10 one-bedroom and 31 two-bedroom units with an average size of 811 sq ft, provide a strong foundation for value creation.Value-add opportunities include implementing professional asset management, optimizing rental rates to match market comparables, introducing a RUBS program for utilities, enhancing amenities, and implementing strategic cost-saving measures. With its attractive going-in cap rate and offered free and clear of existing debt, Willow Park allows investors flexibility in financing while capitalizing on Abilene's growing market, where local economic indicators point to continued growth.

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Apartment Buildings
No. of Units: 41
Year Built: 1972
Lot Size: 33,234.00 Sq ft
Opportunity Zone: No
Property Website Click Here
Address: 2410 N Willis Street, Abilene, TX 79603, USA
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