Listed by Keller Williams Realty
$5,125,000
Estrada South II
Details
Property Type Multifamily
Sub Type Apartment Building
Net Rentable (SqFt) 115,150
Units 120
Class C
Year Built 2008
Stories 2
Sale Condition Bank owned foreclosure
2000s VINTAGE | LUBBOCK TX
Marketing description
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 follow this link: https://buildout.com/website/1635020-sale
Investment 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
Listing Contacts
Listed by Keller Williams Realty
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$--
$--
Valuation Metrics
0
DSCR
--
Cap Rate
--
ROI
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Brokerage
Brokerage Phone
Title
Brokerage Address
Is there information that looks off?
