Two-Bedroom Duplex Apartment
For Sale
$1,200,000
501 Plaza Drive, Slaton, TX 79364
COMMERCIAL - Slaton, TX
Property Size22,368 SF
Lot Size0.12 Acres
Price / SF$53.65
Days on Market52
Property Features for 501 Plaza Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Middle school
Slaton
High school
Slaton
Elementary school district
Slaton ISD
Middle school district
Slaton ISD
High school district
Slaton ISD
Subdivision
Slaton
Standard status
Active
APN
R136760
Size
22,368 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
Plaza Blk 1 L 12
Tax Annual Amount
1047
Legal Description
Plaza Blk 1 L 12
Amenities
washer/dryer connections
Building Details
Year built
1966
Floors in Building
1
Roof type
Composition
Listing Agency:
Keller Williams Realty
(806) 771-7710
Listed By:
Gregory Brownd · License #0596497
(806) 777-4459
Added: Jun 16
Changed: Aug 4
Last Checked: Aug 6 at 9:06AM
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.
Investment Insights
Based on property information with market context.
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.
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.
Key Highlights
- 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
Property Analytics
Property Profile
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?
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
