Renovated 38-Unit Apartment
For Sale
Contact for pricing
Pending
500 N Colorado St, Midland, TX 79701
The property includes updated interiors, a swimming pool, and covered parking.
Property Size29,610 SF
Lot Size0.77 Acres
Days on Market142
Property Features for 500 N Colorado St
General Information
Standard status
Pending
Size
29,610 SF
Class
Class C
Total Parking Spaces
51
Lot size
0.77 Acres
Property subtype
Multifamily
Units
Unit Mix
34 x 1BR, 4 x 2BR
Multifamily Units
38
Additional Details
Cap Rate
7%
Amenities
swimming pool
grill
pool chairs
Building Details
Year Built
1966
Year Renovated
2019
Buildings
3
Listing Agency:
Onyx Legacy Group
Listed By:
Mark Allen CCIM · License #TX 589645
Source:
Crexi
Added: Apr 11
Changed: Aug 30
Last Checked: Aug 30 at 7:31AM
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 Onyx Legacy Group
Investment Insights
Based on property information with market context.
Located at 500 N Colorado St. in Midland, Texas, this multifamily property contains 38 apartments across three buildings totaling 29,610 square feet on .77 acres. Originally completed in 1966, the asset underwent renovations in 2019, including flooring, appliance packages, washers and dryers, ceiling fans, vanities, fixtures, blinds, and selected bathroom improvements.
The unit mix consists of 34 one-bedroom apartments and four two-bedroom apartments. Resident amenities include a swimming pool with a grill and pool chairs. Parking totals 51 spaces, comprising 38 covered spaces and 13 surface spaces. The property is situated in Downtown Midland near corporations, retailers, restaurants, and shopping, with access to E Front St. Current actuals reflect a seven cap rate.
The unit mix consists of 34 one-bedroom apartments and four two-bedroom apartments. Resident amenities include a swimming pool with a grill and pool chairs. Parking totals 51 spaces, comprising 38 covered spaces and 13 surface spaces. The property is situated in Downtown Midland near corporations, retailers, restaurants, and shopping, with access to E Front St. Current actuals reflect a seven cap rate.
Key Highlights
- 38 units in 3 buildings totaling 29,610 square feet on .77 acres
- Renovated in 2019 following original construction in 1966
- Unit mix includes 34 one‑bedroom and 4 two‑bedroom apartments
Property Analytics
Property Profile
Current Use
Lease Details
38
Residential units
Location Intelligence
Trade Area within ½ mile
2,146
Businesses Nearby
Explore this area
Business Placement
Demographics for 79701, TX
29,748
Population
11,393
Households
2.6
Avg Household Size
33
Median Age
19%
College-Educated
73%
High-School Grad
12.1 sq mi
ZIP Area
2,459
Density / Sq Mi
$57,679
Median Household Income
$36,213
Median Earnings
$1,336
Median Rent
$204,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - The property includes updated interiors, a swimming pool, and covered parking.
Where is this apartment building located?
The property is located at 500 N Colorado St Midland, TX.
What are key features of this property?
This property features: 38 units in 3 buildings totaling 29,610 square feet on .77 acres; Renovated in 2019 following original construction in 1966; Unit mix includes 34 one‑bedroom and 4 two‑bedroom apartments
