1100 S Wicker Ave

Oak Terrace Apartments presents a value-add multifamily investment opportunity located in close proximity to Highway 385 and Highway 84 at 1100 S Wicker Avenue 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.

Investment highlights

Strong in-place yield

High occupancy

Below market rents

Value-add upside

Stable secondary market