Multifamily Complex Near TAMU
903 Balcones Drive College Station, TX 77845
903 Balcones Drive, College Station, TX, 77845
$2,200,000
For Sale
$2,200,000
MULTI_FAMILY - College Station, TX
Property Size15,360 SF
Lot Size0.96 Acres
Price / SF$143.23
Days on Market281
Property Features for 903 Balcones Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- C10
- Standard status
- Active
- APN
- 903 Balcones C10
- Size
- 15,360 SF
- Lot size
- 0.96 Acres
Taxes and HOA fees
- Tax Year
- 2014
Utilities
- Heating system
- Electric (Heating), Central
- Cooling system
- Electric, Central Air
Building Details
- Year built
- 2014
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Tile, Carpet
Listing Agency
Town & Country Realty
(979) 229-6000
7005 Rock Prairie Rd, College Station, TX
Listed by
Linda Praytor · License #0310815
(979) 229-6000
Added: Oct 10, 2025 Checked: Jul 17 at 8:06 am
MLS# 25010499
Listing URL
Copyright © 2026 Bryan-College Station Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained 12-unit multifamily complex is located just off the TAMU Shuttle Route, offering proximity to campus, shopping, and dining. Each unit features 1,200 sq. ft. layouts. The property includes an on-site office, suitable for management or conversion to an additional income-producing unit. The property is currently at 100% occupancy, with units renting for $1,200 per month, resulting in a gross annual income of $172,800.00. The property benefits from a strong rental history and minimal turnover. Located in College Station, Texas, this property is situated on a 0.96-acre lot and has a total building size of 15,360 square feet. The zoning is C10. The property is positioned to benefit from TAMU student demand and workforce housing needs.
Key Highlights
- 12‑unit multifamily complex built in 2014 with central heating and central air
- Each unit is 1,200 sq. ft., with carpet and tile flooring
- Currently 100% occupied; rents are $1,200 per month per unit
Local 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 | $282.0k | $18.36 |
| − Vacancy | −$14.1k | −$0.92 |
| EGI | $267.9k | $17.44 |
| − OpEx | −$120.6k | −$7.85 |
| NOI | $147.4k | $9.59 |
15,360 SF · lease $18.36/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.11M
$1.84M – $2.46M
NOI $147,350 @ 7.0% cap · market cap 6.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.78M
$3.31M – $4.41M
NOI $264,757 @ 7.0% cap · market cap 12.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Well-maintained 12-unit multifamily property near Texas A&M University.
Where is this apartment building located?
The property is located at 903 Balcones Drive College Station, TX.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 12‑unit multifamily complex built in 2014 with central heating and central air; Each unit is 1,200 sq. ft., with carpet and tile flooring; Currently 100% occupied; rents are $1,200 per month per unit
