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Lubbock Square Apartments
$9,500,000
4602 50th Street, Lubbock, TX 79414
121,072 sqft
Building Size
124
Units
Details:
Description:
Lubbock Square is a 124 unit, 2 story property consisting of one, two, three, and four bedroom units. 32 of the units are townhome style units. Property was renovated in 2016 and most of the interior units have been remodeled in the past 5 years. Average unit size across the property is 976sf and current asking rents average $0.89/sf. Room to grow rents, put agency financing on it, and implement the value add opportunities.
Lubbock Square is located in Lubbock TX. Lubbock's population is close to 270,000 and is home to Texas Tech University. Top economic drivers of the area include higher education, medical facilities, and agriculture. The property is located inside Loop 289, north of 50th Street between Slide and Quaker. It's central Lubbock location makes it convenient for residents to get to many of the top employers, shopping, restaurants, and is very close to the South Plains Mall.
6.9% cap rate on May T12 financials
Centrally located off of 50th St
Stabilized property with value add opportunities
Documents:
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| Offering Memorandum |
Location
Gallery
