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Coronado Crossing 3333 Toledo Ave 61 Unit Apartment Building For Sale Lubbock, TX 79410
Investment Highlights
- 7.6% Cap Rate on T12 Actuals
- 8% Projected Cash on Cash Return Year 1
- Projected 24% IRR by Year 2
Executive Summary
The Coronado Crossing Apartments apartments are located at 3333 Toledo Ave in Lubbock, TX. The apartments are comprised of six floor plans ranging from one bedroom units to four bedroom units. The property underwent a full renovation in 2017, reducing immediate capital expenditure needs. There is a dedicated laundry facility onsite offering tenants a highly desirable amenity as well as additional revenue potential.
To view the financials click here: https://buildout.com/website/1489924-sale
To view the financials click here: https://buildout.com/website/1489924-sale
Property Facts
| Sale Type | Investment | Lot Size | 2.01 AC |
| No. Units | 61 | Building Size | 51,413 SF |
| Property Type | Multifamily | Average Occupancy | 79% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 2017 |
| Building Class | C | Parking Ratio | 2.91/1,000 SF |
| Zoning | B-2 - Commercial | ||
| Sale Type | Investment |
| No. Units | 61 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.01 AC |
| Building Size | 51,413 SF |
| Average Occupancy | 79% |
| No. Stories | 2 |
| Year Built | 2017 |
| Parking Ratio | 2.91/1,000 SF |
| Zoning | B-2 - Commercial |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Walk-In Closets
- Carpet
Site Amenities
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Maintenance on site
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 14 | - | 670 |
| 2+1 | 19 | - | 930 |
| 2+1.5 | 22 | - | 919 |
| 3+1.5 | 2 | - | 1,150 |
| 3+2.5 | 1 | - | 1,523 |
| 4+2.5 | 3 | - | 1,523 |
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Walk Score®
Very Walkable (71)
Property Taxes
| Parcel Number | R46287 | Improvements Assessment | $3,577,931 |
| Land Assessment | $162,010 | Total Assessment | $3,739,941 |
Property Taxes
Parcel Number
R46287
Land Assessment
$162,010
Improvements Assessment
$3,577,931
Total Assessment
$3,739,941
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Coronado Crossing | 3333 Toledo Ave
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