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2301 50th St
Lubbock, TX 79412
Ashwood Court · Multifamily Property For Sale
·
51 Units
PROPERTY FACTS
| No. Units | 51 | Building Size | 37,238 SF |
| Property Type | Multifamily | Average Occupancy | 90% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1952/2016 |
| Building Class | C | Parking Ratio | 0.46/1,000 SF |
| Lot Size | 1.64 AC | ||
| Zoning | A-2 | ||
| No. Units | 51 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.64 AC |
| Building Size | 37,238 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built/Renovated | 1952/2016 |
| Parking Ratio | 0.46/1,000 SF |
| Zoning | A-2 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Refrigerator
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Playground
- Tenant Controlled HVAC
- Walk-Up
ABOUT 2301 50TH ST , LUBBOCK, TX 79412
Ashwood Court Apartments is a 50 unit, 2 story complex located in Lubbock Texas near 50th and University. Ashwood Court has superior physical appeal compared to all other class C properties in the area due to extensive renovation and capital improvements over the past 3 years. This property is ideal for an owner/manager or anyone wanting to expand their portfolio in a stable, secondary market in Texas. Current owners have done the heavy lifting and have the property stabilized. New owner can further add value by continuing to improve economic occupancy and by implementing RUBS to recoup utility expenses. Exterior renovations include: landscaping, lighting, security cameras, painting, trim and carpentry work around doors and windows, solar screens, pergola and deck in courtyard, resurfaced parking lot, rebranding, and new signage. Interior renovations include: updated flooring, paint, resurfaced countertops and tubs, appliance replacement in most units, and office remodel. Mechanical improvements include: new chiller system, and new fan units in 42 of the units.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 25 | $737.50 | 600 |
| 2+1 | 26 | $787.50 | 780 |
