1 / 642-Unit Multifamily in Huntsville, TX
TX · listed May 11, 2026 (170 days)
▼ Reduced 1.7% on Oct 12, 2026, was $2,895,000
- $/unit
- $67,738
- ▼ 32% vs TX · 20th pct
- Cap rate
- 10%
- ▲ 2.7 pts vs TX median
- Gross yield
- —
- Units
- 42
- 1971
Financials
- Asking price
- $2,845,000
- Price per unit
- $67,738
- Price per sq ft
- $98
- Gross rent / year
- Not stated
- Net operating income
- Not stated
- NOI per unit
- Not stated
- Cap rate
- 10%
- Gross yield
- Not stated
- Occupancy
- Not stated
As stated by the seller. Verify during due diligence.
Building
- Units
- 42
- Unit mix
- Not stated
- Buildings
- Not stated
- Year built
- 1971
- Building size
- 29,000 sq ft
- Avg unit size
- 690 sq ft
- Lot size
- 1.16 acres
- Condition
- Value-add
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- May 11, 2026
- Days on market
- 170 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Oct 12, 2026: $2.9M → $2.85M
- Location
- Approximate (~0.5 mi)
- Listing #
- 1029
About this property
Blue Sky Apartments is a 42-unit multifamily community built in 1971, consisting of approximately 29,000 sqft on 1.16 acres. The property presents a strong value add opportunity through a combination of operational improvements and physical enhancements.
Located at (address on request) in Huntsville, TX, the property benefits from its close proximity to Sam Houston State University, which has an enrollment of over 21,000 students and serves as a primary demand driver for the local rental market.
The asset is also just minutes from downtown Huntsville, providing convenient access to retail, dining, and employment centers. This strategic location supports consistent tenant demand from both student and workforce housing, making Blue Sky Apartments well-positioned for long-term stability and growth in a market with limited new multifamily supply and strong rental fundamentals.
Value-Add 42-Unit Multifamily Near Sam Houston State
Highlights
- Located Near Sam Houston State University (21,000+ Students)
- Individually Metered Electric (Expense Control Benefit)
- On-Site Leasing Office + Laundry Facility
- Walkable to Downtown Huntsville + SHSU
- Strong Rental Demand Driven by Student + Workforce Housing
- Below Market Rents room to increase NOI
- Recent upgrades include renovations to units in Building A, featuring new countertops, cabinetry, and appliances. Approximately 25% of the total units were updated within the past three years.
Location
Approximate area. The exact address is shared on request.
Similar buildings nearby
| Property | Price | $/unit$/unit vs median | Cap |
|---|---|---|---|
 Huntsville, TXNew | $2.85M | $66K$66K | — |
 Huntsville, TXNewStabilized | $460K | $58K$58K | — |
 Huntsville, TXStabilized | $460K | $58K$58K | — |
 Huntsville, TXStabilized | $695K | $87K$87K | — |
 Huntsville, TX▼ 5% cutStabilized | $1.85M | $308K$308K | — |
 Huntsville, TXHigh yieldNew construction | $2.41M | $151K$151K | 11.6% |