806-777-4459
2627 Oak Dr, Lubbock, TX for Sale
Apartments - FOR SALE
1/70
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HIGHLIGHTS

  • Priced well below replacement costs at $42,700/unit
  • Opportunity to make operational improvements to boost NOI
  • 2008 construction for less than $50k/unit!
  • Can also purchase Estrada South I and Estrada North - 372 total units

OVERVIEW

Estrada South II is a 2008 vintage, 120 unit garden style complex that has a mix of one, two, and three bedroom units. The property was previously a PFC structured, affordable housing property. Since it was foreclosed, the LURA has been terminated and the property is being offered on a fee simple basis. It is now operated as conventional, market rate housing without any rent or income restrictions on future leases. To view the financials please follow this link: https://buildout.com/website/1635020-sale

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

112

CAP RATE

Request Cap Rate

% LEASED

37%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Estrada South II

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2005

PARKING SPACES

760

LAND DETAILS

LAND ACRES

9.3 AC

LAND SF

405,108 SF

ZONING

R-3

APN/PARCEL ID

R309729

ASK ABOUT THIS PROPERTY

Greg BrowndGo-Getters - MultifamilyMore Info
806-777-4459

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Greg BrowndGo-Getters - MultifamilyMore Info
806-777-4459

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.