Value-Add Apartment
For Sale
$2,400,000
1100 South Wicker Avenue, Littlefield, TX 79339
Apartment community with 45 units and roughly 93% occupancy, offering room to increase NOI through rent adjustments.
Property SizeContact for details
Days on Market238
Property Features for 1100 South Wicker Avenue
General Information
Standard status
Active
Property subtype
MultiFamily
Occupancy
93%
Additional Details
Cap Rate
9.96%
Highway Access
Yes
Multifamily Units
45
Building Details
Year Built
1970
Listing Agency:
FIMC Commercial Realty
(806) 358-7151
Listed By:
Kirk Chudej · License #0604402
Source:
Compass
Added: Jan 7
Changed: Aug 31
Last Checked: Sep 1 at 11:04PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of FIMC Commercial Realty
Investment Insights
Based on property information with market context.
Oak Terrace Apartments is a 45-unit multifamily community currently operating at approximately 93% occupancy. The property’s trailing performance reflects total income of approximately $340,126 and trailing NOI of approximately $238,940.
The asset is located at 1100 S Wicker Avenue in Littlefield, Texas, in close proximity to Highway 385 and Highway 84. Ownership has maintained the property, while rents remain below market averages, supporting a value-add strategy focused on strategic rent adjustments.
Financially, trailing results also indicate approximately $270,938 NOI before fixed expenses, providing an entry point designed for yield, supported by ongoing occupancy and consistent income performance.
The asset is located at 1100 S Wicker Avenue in Littlefield, Texas, in close proximity to Highway 385 and Highway 84. Ownership has maintained the property, while rents remain below market averages, supporting a value-add strategy focused on strategic rent adjustments.
Financially, trailing results also indicate approximately $270,938 NOI before fixed expenses, providing an entry point designed for yield, supported by ongoing occupancy and consistent income performance.
Key Highlights
- Oak Terrace Apartments is a 1970‑built, 45‑unit multifamily property in Littlefield, TX
- Approximately 93% occupancy currently, with strong collections and consistent income performance
- Trailing financials show about $238,940 NOI on about $340,126 total income (about 9.96% cap rate)
Property Analytics
Current Use
Lease Details
45
Residential units
93%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Explore this area
Business Placement
Demographics for 79339, TX
6,744
Population
3,081
Households
2.2
Avg Household Size
38
Median Age
17%
College-Educated
78%
High-School Grad
334.8 sq mi
ZIP Area
20
Density / Sq Mi
$57,035
Median Household Income
$35,350
Median Earnings
$1,019
Median Rent
$76,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartment community with 45 units and roughly 93% occupancy, offering room to increase NOI through rent adjustments.
Where is this apartment building located?
The property is located at 1100 South Wicker Avenue Littlefield, TX.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Oak Terrace Apartments is a 1970‑built, 45‑unit multifamily property in Littlefield, TX; Approximately 93% occupancy currently, with strong collections and consistent income performance; Trailing financials show about $238,940 NOI on about $340,126 total income (about 9.96% cap rate)
