501 Plaza Drive, Slaton, TX 79364

Building Details

Year built

1966

Floors in Building

1

Roof type

Composition

Listing agent Gregory Brownd License #0596497 Show Phone

Listing office Keller Williams Realty a***@gmail.com 10210 Quaker Ave, Lubbock, TX Show Phone

Listing date Jun 16, 2026

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MLS# 202608218

Copyright © 2026 Lubbock Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Overview

The Plaza is a 24-unit apartment community comprised of 12 one-story duplexes. Each unit is configured as 2 bedrooms and 1 bathroom, with washer/dryer connections available in every unit.

The property is located at 501 Plaza Drive in Slaton, Texas (79364), in Lubbock County. The current management notes strong current occupancy, and that rents have not been raised in the past five years. The submitted rent context indicates the rents are about $135 below comparable nearby 2-bedroom units within the area.

For a prospective owner or operator, the community offers a straightforward operating profile with an emphasis on value-add through rent adjustments. There is also an identified opportunity to reduce utility costs by starting to bill back water to residents, as the current water bill is described as about two times higher than area expense comps. For buyers focused on hands-on management, these operational considerations are central to the acquisition strategy.

Suggested Use

Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Slaton

County

Lubbock

State

Texas

Longitude

-101.659362

Latitude

33.434139

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FAQs

What type of property is this?

Apartment building - 24-unit apartment community of 1-story duplexes with in-unit washer/dryer connections.

Where is this apartment building 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 made up of 12 one‑story duplexes; All units are 2 bed / 1 bath with washer/dryer connections in each unit; Year built: 1966; roof type: composition