Description:
INVESTMENT HIGHLIGHTS: Recent Foreclosure-To Be Sold at online Auction hosted by Real Insight Marketplace - Online Auction July 14th-16th - Please visit the auction site for all due diligence materials at https://rimarketplace.com/auction/2579/reo-sale-blue-sky-ranch-apartments-68-occupied
Online Auction July 14th-16th
Tour Dates July 1st 11:15AM to 1:15AM and July 9th 11:30am - 1:30pm
All information regarding the propertry must be taken from the auction site after signing a digital confidentiality agreement.
1)Houston Income Properties, Inc. and KET Enterprises Incorporated are excited to unveil an exceptional investment opportunity with upside potential; the BLUE SKY RANCH Apartments. This recent REO property presents itself as a Class "C" asset nestled within a desirable "B" location in the vibrant heart of Big Spring, TX. With its strategic positioning and possible upside, investors can capitalize on the advantageous market fluctuations that come with a recent foreclosure.
2) Property Highlights - Blue Sky Ranch Apartments is located in the Permian Basin of West Texas, the largest oil and gas producing area of the nation and 4th largest in the world. It is approximately 40 miles east of Midland/Odessa. The asset was constructed circa 1969 and offers residents an array of amenities including a location that is just over a mile from the Scenic Mountain Medical Center.
3) Home Features - Residents enjoy cable ready units, separate dining rooms, individual controlled A/C, ceiling fans, fully equipped all electric kitchens, faux wood flooring or carpet, shower /bath combination, disposals, mini blinds, interstate access, picnic area, minutes from dining, shopping and entertainment. (Interior appointments may vary in each unit).
4) Upside Potential -The property includes 15 units identified as requiring substantial make ready work before they can be fully operational. Once these units are successfully renovated and brought back online, prospective buyers could see a significant increase in rental income. By addressing these heavy make readies, investors not only enhance the overall value of the property but also position themselves for improved cash flow in a competitive Texas real estate market.
5) Location - Nestled in the heart of West Texas, the property boasts an exceptional location in the heart of Big Spring, just 40 miles east of the bustling Midland/Odessa region. This area is not only enriched by a thriving oil industry, akin to its neighboring cities, but it also stands out as a strategic hub for logistics and distribution, thanks to its central positioning and excellent transportation options. The economic landscape here is robust, benefiting from the employment opportunities generated in Big Spring and the expansive Permian Basin. This dynamic environment creates a fertile ground for multifamily investment, making it an enticing prospect for investors looking to capitalize on the areas significant economic growth potential.
6) For Auction and full property details visit RI MarketPlace at https://rimarketplace.com/auction/2579/reo-sale-blue-sky-ranch-apartments-68-occupied Sale requires a signed digital CA available on the Auction site for pertinent property details.