2413 Idlewood Ln Odessa, TX 79761

This exceptional investment opportunity presents two Class C apartment buildings in Odessa, Texas, totaling 83 units and 119,899 square feet of net rentable space. The properties, Wellington Commons (42 units, 52,000 sq ft, built 1961, 2.47 acres) and Stanley Heights (41 units, 67,899 sq ft, built 1965, 2.24 acres), are being sold together. Both underwent renovations within the last two years and boast high occupancy rates – 90.5% and 97.6%, respectively. Amenities vary between the two properties but include covered parking, laundry facilities, and some offer additional features such as a basketball area, storage, and grilling areas. Unit features are consistent across both properties and include appliances (refrigerator, stove, dishwasher), air conditioning, ceiling fans, and many have walk-in closets and patios/balconies. The properties are situated on sizable lots and benefit from a prime location in Odessa, attracting a diverse tenant base including oil and gas professionals and students from nearby universities. The asking price is $6,500,000, representing a price per unit of $78,313.25 and a price per square foot of $54.21. Both properties are zoned for multi-family use. Financial details are available upon execution of a non-disclosure agreement.