Fox Meadows & Midtown
For sale701 Balcones Dr, College Station, TX 77845
Subject to Offer74 units
Multifamily, Student Housing1997
Property type
Multifamily, Student Housing
Unit / Space count
74
Price
Subject to Offer
Year built
1997
Occupancy
95%
Bedroom count
264
Property description
This offering represents the opportunity to acquire Midtown and Fox Meadows, two communities near Texas A&M University. Built in 1997 and 1999, the properties offer a renovation strategy with the potential to increase gross rental income by 20%, strong occupancy, student housing or multifamily conversion opportunities, and 100% fee-simple interest, free and clear of any debt.
Property highlights
- RENOVATIONS COULD ADD $300K TO ANNUAL RENTAL INCOMEA proposed $2.62 million renovation program across the 74-unit portfolio is projected to increase gross rental income by approximately $300,000 annually, representing nearly 20% growth over AY 2026–27 rents. Upgrades support projected rent increases of $90–$100 per bed.
- OPPORTUNITY TO CONVERT MULTIFAMILY TO STUDENT HOUSINGFox Meadows presents an opportunity to transition from conventional multifamily to a student housing operating model, potentially capturing higher per-bed rents. Located along Texas A&M’s shuttle route and surrounded by established student housing communities, the property is well positioned to appeal to the university’s student population.
- STRONG EXISTING OCCUPANCY PROVIDES STABILITYThe portfolio boasts 95% combined occupancy, with Midtown operating at 93% and Fox Meadows at 100%. This established occupancy provides investors with an existing income stream while pursuing renovations and rental growth, reducing reliance on a full lease-up or major repositioning to execute the business plan.
- SPACIOUS FLOOR PLANS OFFER A COMPETITIVE ADVANTAGEMidtown and Fox Meadows feature exceptionally spacious three- and four-bedroom units averaging 1,250 and 1,700 square feet, respectively. Both properties offer some of the lowest rents per square foot among comparable communities, providing residents with exceptional value and investors with an opportunity to capitalize on the properties’ oversized layouts through renovations and rental growth.
- LARGEST STUDENT BODY IN THE NATIONTexas A&M University is home to the nation’s largest student body, with 81,364 students enrolled in Fall 2025 (AY 2026–27 headcount has not been released yet). Enrollment increased 2.8% year-over-year and has grown approximately 33% over the past decade, reinforcing a large and expanding demand base for off-campus housing.