Cross Pointe
$875,000
1712 East 3rd Street, Big Spring, TX 79720
0.89 acres
Lot Area
16
Units
Details:
Description:
1712 East 3rd St. consists of two buildings on 0.89 acres in Big Spring, Texas. Each building has 8-units that are made up of identical two bedroom / one bathroom floorplans. This value add redevelopment project has already had significant capital expenditures invested by the current owners. Some completed capital expenditures include new roofs, new framing, full aspestos abatement, new windows, new HVACs & more. These improvements leave this as an opportunity for new investors to step in and complete the ongoing renovation process to obtain built-in equity.
This property is in prime location within Big Spring located directly off I-20 and Birdwell Ln. Access to both of these roads puts the property within 5-minutes or less from top rental drivers such as Howard College and employers such as Big State Hostpital, SCS Technologies, Delek Oil & Gas and more. According to ALN apartment data, Big Spring has shown 20.4% rental growth over the past year.
**Prime location with quick access to major rental drivers
**$1.76m ARV appraisal from February 2022
**$1.96m stabilized projected value 2023
Yield on Cost 11.56%
Documents:
| Title | ||
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| Cross Pointe Offering Memorandum |
Location
Gallery
