5202 Kenosha Ave Lubbock, TX 79413
- Commercial real estate
Current Use by Public Records
- Arbor Oaks Apartments / Apartment Complex
Property Details for 5202 Kenosha Ave
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a fully stabilized, 44-unit apartment building in Lubbock, Texas. Located at 5202 Kenosha Ave, 79413, this Class B multifamily property boasts two stories and comprises two contiguous phases built in 1971 and 1977. The north phase features 14 units, while the south phase includes 32 units, all offering very large two-bedroom layouts. The property benefits from a super low price per bed, presenting a high cap rate with significant upside potential through market rent increases. This garden-style complex is strategically positioned to capitalize on substantial economic growth in east Lubbock. This includes the construction of a new $145 million Covenant Health hospital wing, a $1 billion Leprino Foods facility (creating 500+ direct jobs and thousands of support jobs), and a new Tropicale Foods plant (adding 600 employees). These developments are driving significant population growth and increased demand for rental housing. The property is also conveniently located near the medical district, further enhancing its appeal. The permitted zoning is MF. The asking price for this exceptional investment is $4,200,000. This is a rare opportunity to acquire a well-positioned, high-yield apartment complex in a rapidly expanding 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
- -101.89279347305
- Latitude
- 33.547150885441
