Stevenson Place
526 E North 7th St
Abilene, TX 79601
Highlights
- * Potential for further rental income growth
- * Additional land available for further development
- * Located near 3 universities
Description
The Stevenson Place Apartments consist of 16 units, all 2-bed/1-bath, across two buildings. The sale includes an additional three vacant lots directly adjacent to the apartments. The apartments underwent renovations and upgrades in 2022 and have consistently shown improved rental income over the past year. This investment offers the opportunity to acquire at an attractive basis, with the potential to recover the current loss-to-lease.
This asset is located directly across the street from Stevenson Park, making it a desirable location for tenants in a quiet neighborhood. The property is just 1.3 miles south of Abilene Christian University, 2.3 miles south of Hardin-Simmons University, and 1.9 miles south of the Texas Tech University Health Sciences Center. Abilene is located on Interstate 20, which connects it to larger cities such as Dallas-Fort Worth and El Paso, TX. Abilene has its own regional airport and is home to Dyess Air Force Base.
