The Dylan

4501 Brownfield Dr Lubbock, TX 79410

4501 Brownfield Dr, Lubbock, TX, 79410
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FOR SALE
Property Type:
MultiFamily Apartments
Amount:
Please Call Broker for Price

Last Verified:
Nov 04, 2024

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Highlights

  • Assumable Debt with attractive leverage and full term IO.
  • Opportunity to takeover a recently renovated property at a value add basis.
  • Within 1.5 miles of covenant hospital system.
  • Within 3 miles of Texas Tech University home to over 40,000 enrolled students .

Description

The Dylan Apartments consist of 122 units, primarily one-bedroom and efficiency units, perfectly aligned with the demographic needs of the area. These unit types cater directly to the large student population at Texas Tech University and professionals working at Covenant Health, ensuring strong occupancy rates and consistent demand. The property also features a designated leasing office, streamlining management operations, and a well-maintained laundry room with property-owned machines—an attractive value-add opportunity for additional income. With its location and thoughtful unit mix, the Dylan Apartments is a solid investment poised to deliver long-term returns.

Located at 4501 Brownfield Drive, the Dylan Apartments offer an attractive investment opportunity in one of Lubbock’s most strategic locations. Positioned just 3 miles from Texas Tech University, which boasts an enrollment of over 40,000 students, this property is situated to capitalize on the continuous demand for student housing. In addition, the property is located only 1.5 miles from Covenant Health, one of the largest and most respected hospital systems in the region. Covenant Health employs thousands of healthcare professionals and serves as a critical healthcare hub, making the Dylan Apartments an attractive option for hospital staff seeking nearby housing.


Year Built: 1975
Building Size: 49701sq ft
Lot Size: 1.77 acres


Documents

Execute Buildout CA

Map of 4501 Brownfield Dr, Lubbock, TX, 79410

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.