Estrada South II | 2627 Oak Dr
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Estrada South II 2627 Oak Dr
120 Unit Apartment Building $4,150,000 ($34,583/Unit) Lubbock, TX 79404
Investment Highlights
- Strategically positioned within 3 miles of the largest capital investment in Lubbock's history-Leprino Foods opening 2025.
- No Property Taxes.
Executive Summary
Estrada S II is a 120 unit affordable housing development in Lubbock, TX. This property is primed for repositioning being offered at an attractive basis with immediate upside. The apartments are comprised of one bedroom , two bedroom, and three bedroom floor plans. The property currently has a ground lease in place with the City of Lubbock with an initiative to offer affordable housing in the community. There is also a LURA in place with TDHCA.
Estrada S II is well positioned to absorb the future growth of Lubbock. Since 2022 multiple companies have chosen the east side of Lubbock as the destination for their future growth. Over the next ten years, companies located in east Lubbock are expected to create over 2000 jobs and invest over one billion dollars into their respective developments. For more information on all the major growth in Lubbock head over to https://lubbockeda.org/announcements/.
Estrada S II is well positioned to absorb the future growth of Lubbock. Since 2022 multiple companies have chosen the east side of Lubbock as the destination for their future growth. Over the next ten years, companies located in east Lubbock are expected to create over 2000 jobs and invest over one billion dollars into their respective developments. For more information on all the major growth in Lubbock head over to https://lubbockeda.org/announcements/.
Property Facts Under Contract
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Ceiling Fans
- Kitchen
- Refrigerator
- Tub/Shower
- Carpet
- Vinyl Flooring
- Wheelchair Accessible (Rooms)
Site Amenities
- Clubhouse
- Fenced Lot
- Fitness Center
- Laundry Facilities
- Smoke Free
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 28 | - | 750 |
| 2+1 | 28 | - | 900 |
| 2+2 | 28 | - | 1,000 |
| 3+2 | 28 | - | 1,100 |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $10,626,147 | |
| Land Assessment | $365,306 | Total Assessment | $10,991,453 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$365,306
Improvements Assessment
$10,626,147
Total Assessment
$10,991,453
zoning
| Zoning Code | R-3 |
| R-3 |
-
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Estrada South II | 2627 Oak Dr
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