12-Unit Apartment
For Sale
$2,200,000
903 Balcones Drive, College Station, TX 77845
Multi-Family, College Station, TX
Property Size15,360 SF
Lot Size0.96 Acres
Price / SF$143.23
Days on Market387
Property Features for 903 Balcones Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C10
Subdivision
College Station Southwood
Elementary school district
College Station
Middle school district
College Station
High school district
College Station
Directions
From Hwy 6 South, exit towards FM-2818/Harvey Mitchell Parkway. Take a right onto Harvey Mitchell Parkway S, then take a left onto Rio Grande Blvd. Turn right onto Balcones Drive.
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
Central, Electric (Heating)
Cooling system
Electric, Central Air
Building Details
Year built
2014
Floors in Building
2
Number of units
2
Flooring type
Carpet, Tile
Listing Agency:
Town & Country Realty
Listed By:
Linda Praytor · License #0310815
(979) 229-6000
Added: Oct 10, 2025
Changed: Oct 30
Last Checked: Oct 31 at 7:06PM
MLS# 25010499
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.
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Investment Insights
Based on property information with market context.
Built in 2014, this 12-unit apartment property contains 15,360 square feet on a 0.96-acre parcel. Each apartment is described as 1,200 square feet. An on-site office provides additional space, and the reported occupancy is 100%. Interior finishes include carpet and tile; heating and air conditioning are central and electric.
Key Highlights
- 12 apartments, each measuring 1,200 square feet
- 15,360‑square‑foot property on 0.96 acres
- On‑site office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$147,350
Cap Rate
6.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,947,000
$2.9M
Cap Rate 7%
$2,105,000
$2.1M
Cap Rate 9%
$1,637,222
$1.6M
Market Conditions
NOI Build-Up for 15,360 SF
Gross rent
$282.0K $18.36/SF
− Vacancy
−$14.1K −$0.92/SF
EGI
$267.9K $17.44/SF
− OpEx
−$120.6K −$7.85/SF
NOI
$147.4K $9.59/SF
Area
College Station, TX
Vacancy
5.00%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,947,000
Cap Rate 7%
$2,105,000
Cap Rate 9%
$1,637,222
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 authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
12
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
329
Businesses Nearby
Explore this area
Business Placement
Demographics for 77845, TX
70,108
Population
31,464
Households
2.2
Avg Household Size
30
Median Age
61%
College-Educated
96%
High-School Grad
142.5 sq mi
ZIP Area
492
Density / Sq Mi
$90,434
Median Household Income
$46,532
Median Earnings
$1,384
Median Rent
$349,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - An on-site office complements the residential units, with the property situated near the TAMU shuttle route.
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 apartments, each measuring 1,200 square feet; 15,360‑square‑foot property on 0.96 acres; On‑site office
