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
COMMERCIAL - College Station, TX
Property Size15,360 SF
Lot Size0.96 Acres
Price / SF$143.23
Days on Market279
Property Features for 903 Balcones Drive
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- C10
- Standard status
- Active
- APN
- 903 Balcones C10
- Size
- 15,360 SF
- Lot size
- 0.96 Acres
Building Details
- Year built
- 2014
- Flooring type
- Tile, Carpet
- Roof type
- Composition, Shingle
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 12, 2025 Checked: Jul 17 at 8:06 am
MLS# 25010341
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. Currently at 100% occupancy, the units rent for $1,200 per month, resulting in a gross annual income of $163,800.00. The property benefits from a history of reliable, long-term tenants. Situated in College Station, Texas, the property is positioned within a stable rental market driven by TAMU student demand and workforce housing needs. The property, zoned C10, sits on a 0.96-acre lot. The property's size is 15,360 square feet.
Key Highlights
- 12‑unit multifamily property built in 2014
- 100% occupancy with current rents of $1,200 per month
- Gross annual income of $163,800 based on current rents
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 complex near campus.
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 property built in 2014; 100% occupancy with current rents of $1,200 per month; Gross annual income of $163,800 based on current rents
