12-Unit Apartment
For Sale
$700,000
1109 Oak St, Abilene, TX 79602
Configured group-living property with commercial kitchen, resident laundry, shared common areas, and a fenced backyard.
Property Size6,269 SF
Price / SF$111.66
Days on Market593
Property Features for 1109 Oak St
General Information
Standard status
Active
Size
6,269 SF
Property subtype
Commercial
Additional Details
Multifamily Units
12
Amenities
commercial kitchen
laundry room
living room with TV
dining space
kitchen area
fenced backyard with covered patio
Building Details
Year Built
1965
Listing Agency:
RE/MAX Fine Properties
Listed By:
Kayla Goodman · License #0680050
(281) 265-5533
Source:
Northtexashomeguide
Added: Mar 4, 2025
Changed: Oct 1
Last Checked: Oct 5 at 7:04PM
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 RE/MAX Fine Properties
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Investment Insights
Based on property information with market context.
Located at 1109 Oak St in Abilene, Texas, this 6,269-square-foot apartment property was built in 1965 and is configured as a men’s group residential facility. The 12-unit layout accommodates up to 50 residents and includes shared living, dining, and kitchen areas suited to its established group-living format.
A full commercial kitchen is equipped with a large gas stove, warming table, multiple refrigerators and freezers, plus dedicated preparation and storage areas. The property also provides a laundry room with washers and dryers, along with a large fenced backyard and covered patio. These existing features support the current residential setup and provide a substantial physical framework for continued group-living operations or future program adjustments.
A full commercial kitchen is equipped with a large gas stove, warming table, multiple refrigerators and freezers, plus dedicated preparation and storage areas. The property also provides a laundry room with washers and dryers, along with a large fenced backyard and covered patio. These existing features support the current residential setup and provide a substantial physical framework for continued group-living operations or future program adjustments.
Key Highlights
- 12 units with capacity for up to 50 residents
- 6,269‑square‑foot property built in 1965
- Commercial kitchen with large gas stove, warming table, refrigerators, and freezers
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,093
Cap Rate
6.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$961,860
$961.9K
Cap Rate 7%
$687,043
$687.0K
Cap Rate 9%
$534,367
$534.4K
Market Conditions
NOI Build-Up for 6,269 SF
Gross rent
$92.5K $14.76/SF
− Vacancy
−$5.1K −$0.81/SF
EGI
$87.4K $13.95/SF
− OpEx
−$39.3K −$6.28/SF
NOI
$48.1K $7.67/SF
Area
Abilene, TX
Vacancy
5.50%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$961,860
Cap Rate 7%
$687,043
Cap Rate 9%
$534,367
Alternative Uses
Best Use
Apartment 5plus
$687.0K
$601.2K – $801.6K
NOI $48,093 @ 7.0% cap · market cap 6.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,977 @ 7.0% cap · market cap 14.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
653
Businesses Nearby
Explore this area
Business Placement
Demographics for 79602, TX
25,389
Population
11,127
Households
2.3
Avg Household Size
36
Median Age
34%
College-Educated
91%
High-School Grad
121.7 sq mi
ZIP Area
209
Density / Sq Mi
$84,845
Median Household Income
$39,044
Median Earnings
$1,123
Median Rent
$233,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Configured group-living property with commercial kitchen, resident laundry, shared common areas, and a fenced backyard.
Where is this apartment building located?
The property is located at 1109 Oak St Abilene, TX.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 12 units with capacity for up to 50 residents; 6,269‑square‑foot property built in 1965; Commercial kitchen with large gas stove, warming table, refrigerators, and freezers
