1 / 1745-Unit Multifamily in Littlefield, TX
TX · listed Apr 27, 2026 (184 days)
- $/unit
- $53,333
- ▼ 47% vs TX · 8th pct
- Cap rate
- 10%
- ▲ 2.6 pts vs TX median
- NOI
- $239K
- $5,310/unit/yr
- Units
- 45
- 2 bldg · 1970
Financials
- Asking price
- $2,400,000
- Price per unit
- $53,333
- Price per sq ft
- $67
- Gross rent / year
- $340,126
- Net operating income
- $238,940
- NOI per unit
- $5,310
- Cap rate
- 10%
- Gross yield
- 14.2%gross rent ÷ price
- Occupancy
- 93%
As stated by the seller. Verify during due diligence.
Building
- Units
- 45
- Unit mix
- Not stated
- Buildings
- 2
- Year built
- 1970
- Building size
- 35,866 sq ft
- Avg unit size
- 797 sq ft
- Lot size
- Not stated
- Condition
- Value-add
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- Apr 27, 2026
- Days on market
- 184 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- Approximate (~0.5 mi)
- Listing #
- 2047
About this property
Oak Terrace Apartments presents a value-add multifamily investment opportunity located in close proximity to Highway 385 and Highway 84 at (address on request) in Littlefield, Texas. The property generated approximately $238,940 in trailing NOI on $340,126 in total income, supporting a 9.96% cap rate.
The property consists of 45 units and is currently operating at approximately 93% occupancy with strong collections and consistent income performance. Current ownership has maintained the asset, but rents remain below market averages, creating an opportunity for investors to increase NOI through strategic rent adjustments.
Based on trailing financials, the property generates approximately $340,126 in gross income and $270,938 NOI before fixed expenses, positioning this deal at an attractive entry basis with strong yield potential. With market rents trending upward and limited supply in the Littlefield market, Oak Terrace is well-positioned for both yield and appreciation.
Multifamily | 45 Units | $53,333/unit
Highlights
- Strong in-place yield
- High occupancy
- Below market rents
- Value-add upside
- Stable secondary market
Location
Approximate area. The exact address is shared on request.
Similar buildings nearby
| Property | Price | $/unit$/unit vs median | Cap |
|---|---|---|---|
 Lubbock, TXValue-add | $2.6M | $87K$87K | — |
 Lubbock, TXStabilized | $2.17M | $70K$70K | — |
| Lubbock, TX NewStabilized | $2.6M | $144K$144K | 6.5% |
 Lubbock, TX | $1.4M | $58K$58K | — |
 Lubbock, TXValue-add | $999K | $100K$100K | — |
 Lubbock, TXNew | $785K | $49K$49K | — |