Fully Furnished 14-Unit Apartment
2405 Kermit Hwy Odessa, TX 79761
New
For Sale
$1,150,000
Turnkey, fully furnished 14-unit apartment complex designed for immediate occupancy and income generation.
Property Size6,522 SF
Price / SF$176.33
Days on Market3
Property Features for 2405 Kermit Hwy
General Information
- Standard status
- Active
- Size
- 6,522 SF
Building Details
- Year Built
- 1952
Listing Agency:
Midessa Real Estate
(432) 238-3168
Listed By:
Armando Castillo · License #0666015
Source:
Hauspg
Added: Jul 24
Changed: Jul 25
Last Checked: Jul 25 at 3:29PM
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 Midessa Real Estate
Investment Insights
Based on property information with market context.
This fully furnished 14-unit apartment complex is offered as a turnkey investment, with each unit described as tastefully furnished and move-in ready. The property is positioned to support immediate rental operations with minimal upfront capital improvements.
Located at 2405 Kermit Hwy in Odessa, TX, the complex is presented as catering to tenants seeking convenience, including oilfield professionals, contractors, and corporate housing users driven by energy sector activity.
The offering is currently packaged for straightforward use as a residential income property, with furnishing included across the units to support timely tenant occupancy.
Located at 2405 Kermit Hwy in Odessa, TX, the complex is presented as catering to tenants seeking convenience, including oilfield professionals, contractors, and corporate housing users driven by energy sector activity.
The offering is currently packaged for straightforward use as a residential income property, with furnishing included across the units to support timely tenant occupancy.
Key Highlights
- Fully furnished 14‑unit apartment complex in Odessa, TX
- Move‑in ready units designed for immediate occupancy
- Built in 1952
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $102.5k | $15.72 |
| − Vacancy | −$6.4k | −$0.97 |
| EGI | $96.2k | $14.75 |
| − OpEx | −$43.3k | −$6.64 |
| NOI | $52.9k | $8.11 |
6,522 SF · lease $15.72/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$755.6K
$661.2K – $881.6K
NOI $52,893 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$9.48M
$8.30M – $11.06M
NOI $663,707 @ 7.0% cap · market cap 57.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Castle Suites
Hotel & Motel
FAQs
What type of property is this?
Apartment building - Turnkey, fully furnished 14-unit apartment complex designed for immediate occupancy and income generation.
Where is this apartment building located?
The property is located at 2405 Kermit Hwy Odessa, TX.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Fully furnished 14‑unit apartment complex in Odessa, TX; Move‑in ready units designed for immediate occupancy; Built in 1952
