Coronado Crossing

Description:

The Coronado Crossing Apartments apartments are located at 3333 Toledo Ave in Lubbock, TX. The apartments are comprised of six floor plans ranging from one bedroom units to four bedroom units. The property underwent a full renovation in 2017, reducing immediate capital expenditure needs. There is a dedicated laundry facility onsite offering tenants a highly desirable amenity as well as additional revenue potential.


The Coronado Crossing Apartments are located along 34th st in Lubbock. 34th st is a major east to west road that connects all of the major destinations in Lubbock. Coronado Crossing is located nearly equidistant from Texas Tech University and Lubbock Christian University. The combined enrollment between Texas Tech University and Lubbock Christian University is over 42,000 students strong. This property is in a prime location to serve the ever growing needs of Lubbock's local university community as well as the growing general population. Located just 2.8 miles from each university and less than 1 mile from access to the Marsha Sharp Fwy, Coronado Crossing is in a prime location to serve all of Lubbock.



2.0x Equity Multiple by Year 5
7.5% Cap Rate on T12 Actuals
8.1% Stabilized Yield on Cost by Year 3