Regency Apartments

721 W Dengar Avenue, Midland, TX 79705

Regency Apartments is a 24-unit, market-rate multifamily community located in the city of Midland, TX. The property was built in 1982 and is comprised of two, two-story brick buildings with flat roofs. The townhouse-style units feature two-bedroom floor plans with an area of over 2,000 square feet each. Interior amenities include fully equipped kitchens, individual air conditioning and heat, vaulted ceilings, skylights, a fireplace, and washer and dryer connections. The apartment buildings are situated on a sizeable corner lot, and the common areas feature a swimming pool, courtyard, and assigned covered parking. Residents enjoy the property’s centralized location close to Midland College, within walking distance of shops and restaurants. 

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Attachments

Highlights

  • $400+ Rent Upside - Current rents average $1,600. Management is pushing $150 on renewals and comps support rents at $2,000. The property rented $2,200+ pre covid. Additionally, there is upside for renting washers and dryers to the tenants for $45/month.
  • 35-Year Owned Asset - Regency has been well maintained over the course of ownership and has clear upside. The pitched roofs were replaced last June.
  • Robust Market - Midland has the lowest unemployment in the state at 2.6% and is the fastest growing job market in the state at 4.6%. Year-over-year rent growth is 9.1%.
  • Affluent Neighborhood - Homes in the Bartman Square sell for ~$500,000, with homes on the market for $750,000 currently. This is one of the most desired neighborhoods in the city, and Regency is right in it. Please reference the rent comps in the OM, where you will see three townhomes built in the '80's renting for $3,100-$4,000.
  • Irreplaceable Location - Median Household Income in a one-mile radius is $83,677. Windlands park is within walking distance as well as Downtown Midland and a slew of shopping, eating, and entertainment options.

Contacts

broker

Ryan Quaid

GREA

broker

Sean Scott

GREA

broker

Zack Del Medico

GREA

Location

Getting Around

  • Walk Score ®

    45/100 Car-Dependent

  • Bike Score ®

    35/100 Somewhat Bikeable
Powered by Walk Score ®
  • City Midland, TX
  • Neighborhood Kelview Heights-Berkshire
  • Zip Code 79705
  • Market Midland Odessa

Points of Interest

  • 7-Eleven

    0.31 miles

  • Jack's Gas Station

    0.86 miles

  • Stripes Gas Station

    1.30 miles

  • Alon

    1.56 miles

  • Sunoco

    1.63 miles

  • Kent Kwik Gas Station

    1.89 miles

  • H-E-B Fuel

    1.99 miles

  • Amigo's Gas Station

    2.01 miles

  • 7-Eleven

    2.43 miles

  • Kent Kwik

    2.49 miles

  • LHS Parking

    2.21 miles

  • HEB Parking Lot

    4.03 miles

  • Fairfield Inn & Suites by Marriott Midland

    1.87 miles

  • DoubleTree by Hilton Hotel Midland Plaza

    1.87 miles

  • Quality Inn & Suites

    1.89 miles

  • Wyndham Garden Midland

    2.51 miles

  • Microtel Inn & Suites by Wyndham Midland

    3.26 miles

  • Super 8 Midland

    3.28 miles

  • Country Inn & Suites

    3.35 miles

  • Days Inn by Wyndham Midland

    3.37 miles

  • Quality Inn

    3.38 miles

  • Comfort Inn

    3.40 miles

  • Rosa's Cafe

    0.62 miles

  • Gatti's Pizza

    0.68 miles

  • Texas Burger

    0.70 miles

  • Bush's Chicken

    0.71 miles

  • Cattle Baron Steak and Seafood Restaurant

    0.72 miles

  • Sonic

    0.77 miles

  • Whataburger

    0.78 miles

  • Pizza Hut

    0.93 miles

  • Dos Margaritas

    0.95 miles

  • Smoothie King

    0.96 miles

  • Hillcrest School

    0.33 miles

  • Hillander School

    0.67 miles

  • James Bowie Fine Arts Academy

    0.79 miles

  • Premier High School of Midland

    0.84 miles

  • Milam Elementary

    1.02 miles

  • San Jacinto Junior High School

    1.04 miles

  • Fannin Elementary School

    1.06 miles

  • Midland College

    1.09 miles

  • Crockett Elementary (Gen. Tommy Franks Elementary)

    1.28 miles

  • Sam Houston Collegiate Preparatory Elementary

    1.41 miles

  • Paragon Learning Center

    2.36 miles

Frequently Asked Questions

How much does Regency Apartments cost?

The sale price for Regency Apartments is available upon request. Contact the listing broker for more information.

What is the total square footage of Regency Apartments?

Regency Apartments totals 48,000 square feet.

When was this property built?

Regency Apartments was built in 1982.

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