Del Estrado Townhomes

Highlights:

• After making a few operational improvements to the property and getting some of the expenses in line with market averages, the projected 5 year average cash on cash return is 11.4% and the 5 YR IRR is 17.7%.
• After implementing the value add program, the projected IRR for a 5 year hold period is 21.3%, and the average cash on cash return will be 16.5%.

Description:

Del Estrado Townhomes consists of a mix of 3 and 4 bedroom townhome units. Each unit is upstairs/ downstairs and has fenced patios, and an attached garage. The upstairs bedrooms have a balcony. This is a very unique townhome property that is ideal for residents who want more than a basic apartment, and who haven’t bought a home yet. The main competition for residents are single family rentals in the area, most of which don’t have the community amenities and location that Del Estrado has.

Del Estrado Townhomes is located in Lubbock, TX in a highly desirable area off of Indiana Ave and inside Loop 289. With easy access to Loop 289, residents can access all of Lubbock’s top employers and retail establishments in a short drive. It’s an 8 minute drive to Texas Tech University and Covenant Health. It’s only a 6 minute drive to South Plains Mall. It’s next to Leftwich Park and the YMCA,
providing great places for residents to enjoy the outdoors.

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