501 Plaza Drive, Slaton, TX 79364
501 Plaza Drive, Slaton, TX 79364
501 Plaza Drive, Slaton, TX 79364
501 Plaza Drive, Slaton, TX 79364
501 Plaza Drive, Slaton, TX 79364
501 Plaza Drive, Slaton, TX 79364
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Courtney Bartosh

Courtney Bartosh

+1(806) 781-9476
$ 1,200,000
Est. payment | /mo

22,368 SqFt

Save
$ 1,200,000
Est. payment | /mo
Save

22,368 SqFt

Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 22,368 sqft

Price per Sqft $53

MLS Listing ID 202608218

Year Built 1966

Annual Tax Amount $1,047

Lot Size 5,200 Sqft

Acres 0.12

Property Sub-Type Multi Family

Source Lubbock Association of REALTORS®

Property Description

The Plaza is a 24 unit apartment community made up of 12 one story duplexes. They are all 2 Bed / 1 Bath units, with washer/dryer connections in each unit. They have strong current occupancy and there is room for rent increases. Property manager says they haven't raised rents in 5 years. Rents are about $135 below the 2 bedroom units in the apartment complex nearby. There is also an opportunity to reduce the utility costs and start billing back the water to the residents. The current water bill is about 2 times higher than the expense comps we have for the area. Good operational improvements will drive higher returns for the new owner.

Location

State TX

County Lubbock

Area Slaton

Rooms

Basement Basement

Exterior

Roof Type Composition

Building

Story 1

Foundation Slab

New Construction No

Schools

Middle Schools Slaton

High Schools Slaton

Others

Tax ID R136760

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Listed by Keller Williams Realty

Nearby Locations

Courtney Bartosh

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(806) 781-9476

courtneybartosh5@gmail.com

8 W Lakeshore Dr Ransom Canyon, TX 79366, Ransom Canyon, Texas 79366, USA

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501 Plaza Drive