24-Unit Apartment Duplex
For Sale
$1,200,000
501 Plaza Drive, Slaton, TX 79364
Two-bedroom, one-bath duplex-style units with washer/dryer connections comprise a 24-unit apartment community.
Days on Market46
Property Features for 501 Plaza Drive
General Information
Standard status
Active
Property subtype
Commercial
Additional Details
Business Included
No
Multifamily Units
24
Amenities
washer/dryer connections
Building Details
Building Size
22,368 SF
Year Built
1966
Listing Agency:
Keller Williams Realty
(806) 777-4459
Listed By:
Gregory Brownd · License #0596497
(806) 777-4459
Source:
Lubbockhomemarket
Added: Jun 16
Changed: Jul 28
Last Checked: Jul 31 at 1:02PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
The Plaza is a 24-unit apartment community consisting of 12 one-story duplexes. Each unit is configured as a 2-bedroom, 1-bath layout with washer/dryer connections. The property currently has strong occupancy, and there is stated opportunity for rent increases based on management’s observation that rents have not been raised in five years.
Management also notes potential utility cost savings, including the opportunity to reduce overall utility expenses and begin billing back water to residents. The current water bill is reported to be about two times higher than expense comparisons for the area.
Overall, the property is positioned as an income-focused multifamily asset where operational improvements are expected to support improved returns for a new owner.
Management also notes potential utility cost savings, including the opportunity to reduce overall utility expenses and begin billing back water to residents. The current water bill is reported to be about two times higher than expense comparisons for the area.
Overall, the property is positioned as an income-focused multifamily asset where operational improvements are expected to support improved returns for a new owner.
Key Highlights
- 24‑unit apartment community built in 1966, made up of 12 one‑story duplex buildings
- All units are 2 bed / 1 bath duplex‑style layouts
- Washer/dryer connections are included in each unit
Property Analytics
Current Use
Lease Details
24
Residential units
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
Explore this area
Business Placement
Demographics for 79364, TX
7,985
Population
2,949
Households
2.7
Avg Household Size
40
Median Age
16%
College-Educated
85%
High-School Grad
210.5 sq mi
ZIP Area
38
Density / Sq Mi
$55,221
Median Household Income
$39,774
Median Earnings
$1,018
Median Rent
$89,200
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?
Multifamily property - Two-bedroom, one-bath duplex-style units with washer/dryer connections comprise a 24-unit apartment community.
Where is this multifamily property located?
The property is located at 501 Plaza Drive Slaton, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 24‑unit apartment community built in 1966, made up of 12 one‑story duplex buildings; All units are 2 bed / 1 bath duplex‑style layouts; Washer/dryer connections are included in each unit
