4501 Brownfield Dr Lubbock, TX 79410
- Commercial real estate
Current Use by Public Records
- Ladonna Apt. / Apartment Complex
- Lyra Research / Market
- The Dylan / Apartment Complex
Property Details for 4501 Brownfield Dr
- Year built
- 1975
- Property type
- Commercial real estate
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lubbock
- County
- Lubbock
- State
- Texas
- Longitude
- -101.90705866286
- Latitude
- 33.571563909368
