Park Terrace and Tower Arms
Market Price
1102 Sherman Avenue, Levelland, TX 79336
102,875 sqft
Building Size
114
Units
Details:
Description:
Park Terrace and Tower Arms Apartments is a 114 unit complex located in Levelland, TX directly north of South Plains College. It was built in 3 Phases: Park Terrace, Tower Arms North, and Tower Arms South. The current ownership has done very well and has maintained strong operations, providing a new owner the opportunity for a stabilized product. Historic occupancy in the mid-high 90s proves there is further room for organic rent growth. This is one of the few opportunities on the market to buy a well-located property, at a great cap rate, with additional upside.
Levelland is a city in Hockley County, Texas, in the United States. As of the 2020 census, the city population was 12,652, down Wikipedia from 13,542 at the 2010 census. It is the county seat of Hockley County. It is located on the Llano Estacado, 30 miles (48 km) west of Lubbock. Major industries include cotton farming and petroleum production. It is the home of South Plains College.
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Location
Gallery
