4501 Brownfield Dr Lubbock, TX 79410

This 122-unit apartment building, located at 4501 Brownfield Dr, Lubbock, TX 79410, presents a compelling investment opportunity. Built in 1975, this three-story property boasts 49,701 square feet of net rentable space, primarily consisting of one-bedroom and efficiency units. Its strategic location, just 1.5 miles from Covenant Health and 3 miles from Texas Tech University (with over 40,000 students), ensures consistent demand and high occupancy rates. The property includes a leasing office and a well-maintained laundry facility with property-owned machines, providing additional income potential. The unit mix caters perfectly to the large student and medical professional populations in the area. This recently renovated property offers a value-add opportunity and includes assumable debt with attractive leverage and full-term interest-only payments. The property's strong location and unit mix make it a solid investment poised for long-term returns. The property's proximity to major employers and educational institutions guarantees a steady stream of potential tenants. This is a turnkey opportunity for investors seeking a well-positioned, income-generating asset in a thriving Texas market.