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Estrada North and South I 2 Multifamily Properties in Lubbock, TX
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
To View the financials follow this link: https://buildout.com/website/1516656-sale
PROPERTY FACTS
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 311,958 SF |
| Number of Properties | 2 | Total Land Area | 19.51 AC |
| 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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Estrada North and South I
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