Cross Keys Apartments

07-27-2022
08-07-2022

1222 S Abe St, San Angelo, TX 76903

  • Location supports higher rents: $510 rent gap based on 30% affordability factor    
  • Lots of visibility and high traffic count: Over 28,000 vehicles per day pass by the apartments    
  • Value add opportunities: RUBS, water conservation, and rent bumps on renovated units    
  • Projected 5 Year Levered IRR    22.8%
  • Projected Value Add IRR    35.9%
  • Projected Value Add    $1,390,000

Property Description

Cross Keys is a 40 unit property located in San Angelo, TX.  This is late 60s, two-story, courtyard style property with a mix of 24 one bedroom units, and 16 two bedroom units.  There is also a mix of one story flat units, and two story studio units.  It's currently operated as an all bills paid property.  Exterior construction is stone and wood.  Current owner has owned the propety for over 20 years.    

Key Property Information

Listing Status
Under Contract
Listing Type
Highest & best offer
Multifamily type
Garden Style
No. of Units
40
Year Built
1967
Building Size
30,018 Sq ft
No. of Stories
2
Opportunity Zone
No
Price per unit
$ 0
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31.448884, -100.441444

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