22-Unit Multifamily in Monahans, TX
Ward County, TX · listed Oct 13, 2025 (379 days)
- $/unit
- $200,000
- ▲ 117% vs TX · 86th pct
- Cap rate
- —
- Gross yield
- —
- Units
- 22
- 3 bldg · 2025
Financials
- Asking price
- $4,400,000
- Price per unit
- $200,000
- Price per sq ft
- $205
- Gross rent / year
- Not stated
- Net operating income
- Not stated
- NOI per unit
- Not stated
- Cap rate
- Not stated
- Gross yield
- Not stated
- Occupancy
- Not stated
As stated by the seller. Verify during due diligence.
Building
- Units
- 22
- Unit mix
- 8 × 2BR / 1.5BA and 2 × 1BR / 1BA
- Buildings
- 3
- Year built
- 2025
- Building size
- 21,454 sq ft
- Avg unit size
- 975 sq ft
- Lot size
- 1 acres
- Condition
- New construction
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- Oct 13, 2025
- Days on market
- 379 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- Approximate (~0.5 mi)
- Listing #
- 1867
About this property
Two New-Construction Apartment Complexes in Monahans, TX, 22 Total Units, Turnkey Income + Growth Upside.
Discover a rare off-market opportunity in Monahans: two newly built apartment properties that combine immediate cashflow with near-term growth potential.
The first property is a completed, 10-unit complex currently serving as corporate housing. Unit mix: 8 × 2BR / 1.5BA and 2 × 1BR / 1BA. All units are occupied and 7 units are fully furnished and currently being used as Corporate Housing.
The second property is under construction and will add 12 units at delivery: 5 × 2BR / 2BA and 7 × 1BR / 1BA. Together the two sites create a combined 22-unit portfolio ideal for an owner-operator, small syndicate, or investor seeking a compact, scalable multifamily play.
Key features (both properties)
- Individual laundry rooms in each building
- Stylish, contemporary finishes and open-concept floorplans
- All-electric systems (no gas on site)
- Separately metered utilities for unit-level billing and reduced owner operating overhead
- Thoughtful unit mix that supports both short-term corporate stays and long-term residential leases
Location & investment thesis Positioned in Monahans and within easy reach of the Delaware Basin and the expanding Permian Basin, these properties benefit from regional energy-driven demand and workforce housing needs. The combination of turnkey, furnished corporate housing (immediate cashflow) plus an under-construction building (near-term value creation) offers both stabilized income and upside from lease-up, market rent growth, or conversion to longer-term leases.
Portfolio 2 New Construction Apartment Complexes | 22 Total Units
Highlights
Investment highlights:
- Total units: 22 (10 existing, 12 under construction)
- Immediate income: Existing 10-unit building operating as corporate housing (most units furnished)
- Near-term growth: 12 additional units coming online — ability to scale management and revenue quickly
- Lower operating friction: Separate meters + all-electric utilities shift utility expense control to tenants/occupants
- Flexible use: Short-term corporate housing, traditional monthly leases, or a blended strategy to maximize occupancy/revenue
- Attractive local demand drivers: Proximity to Delaware Basin / Permian Basin workforce and related service industries
Location
Approximate area. The exact address is shared on request.
Similar buildings nearby
| Property | Price | $/unit$/unit vs median | Cap |
|---|---|---|---|
 Monahans, TXNew construction | $1.72M | $215K$215K | 0% |
 Monahans, TXNew construction | $2.45M | $204K$204K | — |
 Odessa, TXNew | $550K | $32K$32K | — |
 Odessa, TXNew | $2.28M | $99K$99K | — |
 Pecos, TXNewHigh yield | $989K | $47K$47K | 8% |
 Odessa, TX | $800K | $89K$89K | 0% |