1617 27th St | Lubbock, TX 79411
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- LoopNet Team
1617 27th St
Lubbock, TX 79411
Value-Add Apartments near Texas Tech and I-27 · Multifamily Property For Sale
·
99 Units
INVESTMENT HIGHLIGHTS
- Property tours are available by appointment only. Please contact the listing broker to schedule.
- Owner-managed since 2004 | Massive upside for an investor to use a new management strategy to complete deferred maintenance and increase occupancy.
- Sits in a thriving multifamily submarket, with rents growing more than 11% over the past three years and limited new deliveries.
- The Park Tower apartments provide a value-add 15-story, 99-unit multifamily property near downtown Lubbock and less than five minutes off I-27.
- Five local colleges and universities with more than 60,000 students, including Texas Tech with 43,000 undergraduates located just 1 mile away.
- 50% of the 5-mile population of more than 177,000 currently rent homes, providing a substantial pipeline of future residents.
PROPERTY FACTS
| Sale Condition | Auction Sale | Lot Size | 0.96 AC |
| Type of Ownership | Fee Simple | Building Size | 174,409 SF |
| No. Units | 99 | Average Occupancy | 65% |
| Property Type | Multifamily | No. Stories | 15 |
| Property Subtype | Apartment | Year Built | 1967 |
| Apartment Style | Hi-Rise | Parking Ratio | 0.93/1,000 SF |
| Building Class | C | Parcel Number | R73545 |
| Zoning | B2 | ||
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| No. Units | 99 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Hi-Rise |
| Building Class | C |
| Lot Size | 0.96 AC |
| Building Size | 174,409 SF |
| Average Occupancy | 65% |
| No. Stories | 15 |
| Year Built | 1967 |
| Parking Ratio | 0.93/1,000 SF |
| Zoning | B2 |
| Parcel Number | R73545 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Fireplace
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Security System
- Ceiling Fans
- Refrigerator
- Views
- Walk-In Closets
- Yard
- Patio
SITE AMENITIES
- 24 Hour Access
- Business Center
- Controlled Access
- Fitness Center
- Laundry Facilities
- Pool
- Property Manager on Site
- Tenant Controlled HVAC
- Elevator
- Smoke Detector
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
