5416 50th St | Lubbock, TX 79414
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5416 50th St
Lubbock, TX 79414
Auction - Aspen Village Apartments | 70 Units · Multifamily Property For Sale
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70 Units
INVESTMENT HIGHLIGHTS
- STARTING BID $750,000 | 70 Units | 61% Occupied | AUCTION NOVEMBER 18-20, 2024
- Unit Mix of (24) 1-Bedrooms, (30) 2-Bedrooms, and (16) 3-Bedroom
- ±61% Leased in a Historically Low Vacancy Rate Sub-Market Creates Immediate Upside with Lease Up
- 70-Unit multi-family Property spread across (9) 2-Story Buildings
- Leasing Upside | Renovate & Upgrade Units to Platinum Level for Market Rent Increases
PROPERTY FACTS
| No. Units | 70 | Building Size | 62,820 SF |
| Property Type | Multifamily | Average Occupancy | 61% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1965 |
| Building Class | C | Parking Ratio | 3.18/1,000 SF |
| Lot Size | 2.61 AC | ||
| Zoning | B2 - A community business district that allows a wider range of retail, business, and service use | ||
| No. Units | 70 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.61 AC |
| Building Size | 62,820 SF |
| Average Occupancy | 61% |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 3.18/1,000 SF |
| Zoning | B2 - A community business district that allows a wider range of retail, business, and service use |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Fireplace
- Heating
- Ceiling Fans
- Tile Floors
- Refrigerator
- Oven
- Walk-In Closets
- Carpet
- Deck
- Patio
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Courtyard
- Laundry Facilities
- Pool
- Tenant Controlled HVAC
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 20 | - | 700 |
| 2+1.5 | 14 | - | 950 |
| 2+2 | 20 | - | 960 |
| 3+2 | 16 | - | 1,085 |
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