972-379-9862
2410 N Willis St, Abilene, TX for Sale
Apartments - FOR SALE
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2410 N Willis St
Abilene, TX 79603
North Abilene


HIGHLIGHTS

  • 21%+ Cash-On-Cash Averaged Over 5 Years
  • 75% Are 2-Bedroom Units
  • Owner Has Spent Over $365K On Capital Expenditures
  • $85 Under Comparable Market Rents
  • Quick Access to Hwy-277 and Interstate-20 for Work, School and Shopping
  • Abilene’s Population - 129,043 (US Census - July 2023)

OVERVIEW

Summary: The Multifamily Group is pleased to present the exclusive investment opportunity of Willow Park Apartments, an all-bills-paid property in Abilene, Texas. Built in 1973, this property features 41 units with an average size of 811 square feet, offering a mix of one and two-bedroom floorplans. Notably, 75% of the units (31) are two-bedrooms. The property is currently 76% occupied due to a family renting 4 units recently moving out. Historically the property has only seen a ~10% vacancy rate, so this can easily be improved. The submarket has a strong 93% occupancy rate (CoStar). With rents currently $85 below market value, there is potential for an immediate revenue increase of $3,485 per month, equating to an annual boost of $41,820. Capital Expenditures: Owner has spent over $365K. Location: Willow Park is ideally situated in North Abilene, with quick access to Hwy-277 and Interstate-20, making commuting to work, school, and shopping effortless. The area is experiencing significant growth, with Develop Abilene attracting companies like Amazon, Blue Cross Blue Shield (BCBS), ABI Windows, and several food processing plants. Two of Abilene’s largest employers, Hendrick Medical Center and Dyess Air Force Base, are easily accessible from the property. Shopping options like Edgewood Shopping Center and The Shops of Northpark are close by, and Willow Park is within walking distance of the middle school and less than 2-miles of the elementary and high schools. Abilene Christian University, Hardin-Simmons University, and Texas State Technical College are all easily accessible, as is Abilene Regional Airport. The vibrant downtown cultural district, steeped in frontier history, is a mere 10-minute drive from Willow Park and features museums, performing arts centers, live music venues, shopping, and dining. Since 2015, Abilene has hosted the annual Children’s Art & Literacy Festival, drawing visitors from across the nation and earning the city its title as the “Storybook Capital of America.”

FOR SALE DETAILS

PRICE

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# OF UNITS

41

CAP RATE

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% LEASED

93%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Willow Park Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1973

PARKING SPACES

50

LAND DETAILS

LAND ACRES

2.65 AC

LAND SF

115,434 SF

ZONING

multifamily

APN/PARCEL ID

70275

ASK ABOUT THIS PROPERTY

Chase DavisThe Multifamily GroupMore Info
972-379-9862

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Chase DavisThe Multifamily GroupMore Info
972-379-9862

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.