22-Unit Multifamily in San Angelo, TX
Tom Green County, TX · listed May 5, 2026 (176 days)
- $/unit
- $95,455
- ▼ 5% vs TX · 46th pct
- Cap rate
- 6.9%
- ▼ 0.4 pts vs TX median
- NOI
- $145K
- $6,572/unit/yr
- Units
- 22
- 2 bldg · 1971
Financials
- Asking price
- $2,100,000
- Price per unit
- $95,455
- Price per sq ft
- $163
- Gross rent / year
- Not stated
- Net operating income
- $144,587
- NOI per unit
- $6,572
- Cap rate
- 6.9%
- Gross yield
- Not stated
- Occupancy
- Not stated
As stated by the seller. Verify during due diligence.
Building
- Units
- 22
- Unit mix
- Not stated
- Buildings
- 2
- Year built
- 1971
- Building size
- 12,864 sq ft
- Avg unit size
- 585 sq ft
- Lot size
- 1.18 acres
- Condition
- Stabilized
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- May 5, 2026
- Days on market
- 176 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- Approximate (~0.5 mi)
- Listing #
- 2102
About this property
3ZERO2 River Walk Apartments is a 22-unit apartment community located in San Angelo, TX. This stabilized cash-flowing asset offers consistent occupancy with a proven operational performance and diversified tenant base. The property has undergone over $300,000 in capital improvements over the past 5 years, including replacement of all Federal Pacific electrical panels in 2024 and new roofing and HVAC systems installed within the last 5 years.
The property features an on-site laundry facility with owned equipment, contributing to increased NOI. Additionally, 3 fully furnished units have been successfully leased on 3-6 month terms, targeting military personnel from Goodfellow Air Force Base and traveling nurses. This blended conventional and mid-term rental model has already been proven successful.
Value-add opportunities include RUBS implementation to shift utility burden to tenants for immediate NOI growth, expansion potential on the large lot for additional units or increased density (subject to zoning), and the opportunity to scale the furnished/mid-term rental program beyond the current 3 units.
Multifamily Opportunity in San Angelo, TX - 22 Units
Highlights
- 22-unit apartment community with consistent occupancy
- Proven operational performance with diversified tenant base
- Over $300,000 in CapEx completed (past 5 years)
- All Federal Pacific electrical panels replaced (2024)
- New roofing and HVAC systems installed within last 5 years
- On-site laundry facility (equipment owned) → increased NOI
- 3 fully furnished units successfully leased on 3–6 month terms
- Target tenants: military (Goodfellow AFB) & traveling nurses
- Blended conventional + mid-term rental model already proven
Location
Approximate area. The exact address is shared on request.
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