Agave Courtyard 5249 Wren Ave Immeuble residentiel 310 lots À vendre El Paso, TX 79924

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VALUE-ADD OPPORTUNITY
Agave Courtyard presents a compelling value-add opportunity, particularly on the operational side. With current occupancy at approximately 80%, it is the only asset of its type in the area with below 90% occupancy—signaling immediate upside through improved management. Significant capital improvements totaling over $3,500,000 have already been completed. Of the 310 units, 139 have been fully renovated and 17 have received partial upgrades. Classic units are achieving notable rent premiums—$100 for one-bedrooms, $91 for two-bedrooms, and $90 for three-bedrooms—highlighting the strong renovation-to-rent lift. Full renovations cost around $7,000 per unit and include new paint, resurfaced countertops, new bedroom carpeting, vinyl plank flooring, upgraded appliances, and new lighting and plumbing fixtures.
ROBUST MARKET FUNDAMENTALS
El Paso stands out as a diverse and resilient market. As the 23rd largest city in the U.S. and a major international trade hub, it benefits from a strong mix of private and public sector employment. The presence of one of the largest Army bases in the country, along with numerous government agencies, has helped shield El Paso from major economic downturns—including the 2008 recession and the COVID-19 pandemic. The city consistently ranks among the safest in the nation and is recognized as one of the best places to raise a family.
OFFERED FREE AND CLEAR
Agave Courtyard is being delivered free and clear of existing debt, offering new ownership the flexibility to structure financing tailored to their investment strategy. This allows for the potential to secure competitive bridge financing to continue renovations and drive rental income.