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Estrada North and South I 2 Multifamily Properties in Lubbock, TX

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INVESTMENT HIGHLIGHTS

  • Opportunity to buy post 2000 construction at low basis
  • Close to large employers

EXECUTIVE SUMMARY

Estrada North and Estrada South I were both developed in 2005 as tax credit properties and foreclosed in October 2024, resulting in the removal of their LURAs. Estrada North consists of 140 units, while Estrada South I includes 112 units—both offering a mix of one-, two-, and three-bedroom layouts. The exteriors of both properties were renovated in recent years, but each has several down units due to burst hot water heater pipes in vacant units where heat was not maintained—approximately 45 units at Estrada North and 42 at Estrada South I. Together, these properties present a compelling opportunity to acquire assets at a low basis, complete necessary renovations, and lease up to stabilization, ultimately delivering updated market-rate housing in an underserved and growing area.
To View the financials follow this link: https://buildout.com/website/1516656-sale

PROPERTY FACTS

Sale Type Investment
Status Active
Number of Properties 2
Individually For Sale 0
Total Building Size 311,958 SF
Total Land Area 19.51 AC

PROPERTIES

PROPERTY NAME / ADDRESS PROPERTY TYPE SIZE YEAR BUILT INDIVIDUAL PRICE
Estrada North
1510 E Cornell St, Lubbock, TX 79403
Multifamily 173,915 SF 2005 -
Estrada South I
2502 Weber Dr, Lubbock, TX 79404
Multifamily 138,043 SF 2008 -
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  • Listing ID: 39148398

  • Date on Market: 1/20/2026

  • Last Updated:

  • Address: Estrada North and South I, Lubbock, TX

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