For Auction
Ashford Odessa Square | 108 Units | 95% Occupied
Odessa, TX 79761Represented by
Houston Income Properties, Inc.
Asset Snapshot
Offering Summary
OPEN HOUSE DATE: Thursday, July 23rd, 2026 - 10:00 AM thru 12:00 PM C.S.T.
Investment Highlights
- Permian Basin's Premier Workforce Housing: #1 U.S. oil and gas region serving the fourth largest energy production area globally with strong employment.
- 108-Unit Stabilized Portfolio: Garden-style apartments at 95% occupancy generating $840,000 annual NOI with $980 average rent per unit.
- $1.6M Recent Capital Investment: $790K exterior and $862K interior improvements including HVAC, appliances, and granite countertops.
- 101-Unit Mini-Storage Upside: Three-building facility with only 21 units leased offers immediate opportunity for occupancy and revenue growth.
- Strong Rent Growth Market: Odessa Metro averaged 12.1% annual rent increases over four years with minimal new competitive supply nearby.
- Individual Systems Throughout: Each unit features individual HVAC, electric hot water heaters, and metering with 50% HVAC units recently replaced.
Offering Summary
Houston Income Properties, Inc., KET Enterprises Incorporated and RealINSIGHT Marketplace are pleased to present Ashford Odessa Square Apartments, a 108-unit garden-style workforce housing community in Odessa, Texas. The asset comprises ten apartment buildings and three separate mini-storage buildings (101 units) situated on 4.4 acres near Interstate 20 in the Permian Basin. Current occupancy stands at 95% with an average rent of $980 per unit and stabilized NOI of $839,365. The property has undergone approximately $1.6 million in capital improvements over the past 24 months, including exterior enhancements and interior upgrades such as new appliances, HVAC systems, granite countertops, and flooring—with 50% of units now commanding a $50 rent premium. All units feature individual HVAC systems and electric hot water heaters. The included 101-unit mini-storage facility, currently leasing only 21 units, represents significant upside for new ownership to enhance occupancy and revenue. Positioned in a high-growth market with 12.1% average annual rent appreciation and minimal new competitive supply, the property benefits from Odessa's role as the leading oil and gas employment center and emerging industrial hub.
Due Diligence
Transaction Managers
Platform Fee
Buyer pays platform fee at closing.
5% or $25,000 minimum
How it Works
Learn about bidding, reserve prices, and closing.
Read the auction guideAuctioneer
Need Help?
Your transaction managers are your first point of contact for any auction or process questions. For additional support:
Investment Sales Brokers
Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
