124-Unit Apartment
For Sale
Contact for pricing
4602 50th Street, Lubbock, TX 79414
124-unit apartment community in Lubbock, TX, currently about 79% occupied with renovated interiors for 79 units.
Property Size121,072 SF
Days on Market70
Property Features for 4602 50th Street
General Information
Standard status
Active
Size
121,072 SF
Property subtype
Multifamily
Occupancy
79%
Additional Details
Multifamily Units
124
Amenities
Well-Located Value-Add Opportunity On Major Retail Corridor
79% occupancy versus approximately 93% for nearby competitors creates meaningful NOI upside
More than $200K in annual expense reduction potential plus additional rent growth opportunity
Building Details
Building Size
121,072 SF
Units
124
Listing Agency:
Dallas Office
(972) 755-5194
Listed By:
John McGregor · License #License(s): TX: 646474
(972) 755-5194
Source:
Marcusmillichap
Added: Jun 17
Changed: Aug 17
Last Checked: Aug 25 at 5:05AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Dallas Office
Investment Insights
Based on property information with market context.
Marcus & Millichap presents Lubbock Square, a 124-unit apartment community in Lubbock, Texas. The property is currently approximately 79% occupied. Ownership has completed significant capital improvements, including renovations to 79 unit interiors with modern finishes.
According to the offering remarks, the community trails nearby competitors, which have reached roughly 93% occupancy, and it may benefit from improved leasing performance. Additional revenue growth is described as possible by aligning below-market rents with competitive levels. The materials also discuss disciplined expense management with potential to reduce annual operating expenses by more than $200,000.
The offering further notes attractive bridge financing with an interest-only structure and financing for eligible capital improvements, supporting the stated plan for increased cash flow and long-term value.
According to the offering remarks, the community trails nearby competitors, which have reached roughly 93% occupancy, and it may benefit from improved leasing performance. Additional revenue growth is described as possible by aligning below-market rents with competitive levels. The materials also discuss disciplined expense management with potential to reduce annual operating expenses by more than $200,000.
The offering further notes attractive bridge financing with an interest-only structure and financing for eligible capital improvements, supporting the stated plan for increased cash flow and long-term value.
Key Highlights
- 124‑unit apartment community in Lubbock, TX
- Currently approximately 79% occupied; near‑term upside versus nearby competitors cited at roughly 93% occupancy
- 79 unit interiors renovated with modern finishes
Property Analytics
Property Profile
Current Use
Lease Details
124
Residential units
Location Intelligence
Trade Area within ½ mile
633
Businesses Nearby
Explore this area
Business Placement
Demographics for 79414, TX
17,537
Population
9,219
Households
1.9
Avg Household Size
32
Median Age
25%
College-Educated
89%
High-School Grad
3.2 sq mi
ZIP Area
5,480
Density / Sq Mi
$49,637
Median Household Income
$32,127
Median Earnings
$1,100
Median Rent
$150,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 124-unit apartment community in Lubbock, TX, currently about 79% occupied with renovated interiors for 79 units.
Where is this apartment building located?
The property is located at 4602 50th Street Lubbock, TX.
What are key features of this property?
This property features: 124‑unit apartment community in Lubbock, TX; Currently approximately 79% occupied; near‑term upside versus nearby competitors cited at roughly 93% occupancy; 79 unit interiors renovated with modern finishes
