1510 East Cornell Street Lubbock, TX 79403
- Added:
- Jun 11, 2025
- Days on Market:
- 311
- Last Refresh:
- Apr 3 at 4:58 am
Property Features for 1510 East Cornell Street
General Information
- Standard status
- Active
- Property subtype
- MF
Building Details
- Year Built
- 2005
Listing agent Greg Brownd License #0465722 (806) 777-4459
Listing office KW Commercial | Lubbock, TX (806) 777-4459
Listing date Jun 11, 2025
Source Realnex
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All listing content including descriptions, pricing, images are the copyrighted material of KW Commercial | Lubbock, TX
Overview
Multifamily Investment Opportunity in Lubbock
Two properties, Estrada North and Estrada South, are available for purchase together or individually. Estrada North comprises 140 units with a total net rentable area of 135,900 square feet and an average unit size of 971 square feet. Estrada South includes 112 units, totaling 108,450 square feet of net rentable area, with an average unit size of 968 square feet. Both properties were developed in 2005 as tax credit properties and were foreclosed in October 2024, which resulted in the removal of their Land Use Restriction Agreements (LURAs). The properties offer a mix of one-, two-, and three-bedroom layouts. The exteriors of both properties have been renovated in recent years. Estrada North has approximately 45 down units, and Estrada South has approximately 42 down units, due to burst hot water heater pipes in vacant units where heat was not maintained. These properties offer an opportunity to acquire assets at a low basis, complete necessary renovations, and lease up to stabilization, delivering updated market-rate housing in an underserved and growing area.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Estrada North Apartments
Apartment Complex
Location Insight
- Map
- Local Demand
- City
- Lubbock
- County
- Lubbock
- State
- Texas
- Longitude
- -101.8203827
- Latitude
- 33.6016263
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Two multifamily properties with renovation potential in a growing area.
Where is this apartment building located?
The property is located at 1510 East Cornell Street Lubbock, TX.
What is the asking price?
The asking price for this property is $11,625,000.
What are key features of this property?
This property features: Opportunity to acquire two properties (Estrada North and Estrada South) at a low basis.; LURAs have been removed, allowing for market‑rate housing.; Exterior renovations have already been completed.
