Cottage Village

Multi-Family for Sale
Catylist Listing ID: 30523564
Property Subtypes: Senior Living
Number of Units: 23 Units
Building Size (RSF): 22,482 SF
Gross Building Area: See Agent
Gross Land Area: 2.52 Acres
Sale Price: See Agent
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/11/2019

Overview / Comments

This asset is prime for a value add renovation with average current rents well below the market rate for comparable properties. The current owner operates from a distant Fort Worth and as a result overspends on employee costs and is hindered in marketing.

Control the rural market outside Lubbock.
Significant upside with rents.
Ability to easily turn existing assisted living facility into memory care to meet demand.
Additional land to add additional assisted living facility.
Tax advantages of Opportunity Zone.

Additional Details

Nearest MSA: Lubbock
County: Terry
Site Description: Strategically located in Brownfield, this asset offers the unique opportunity to control the senior rural market outside Lubbock. Located in an Opportunity Zone.
Year Built: 1997
Year Renovated: 2005

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,075 10,141 11,334
Median Age: 38.09 35.35 35.53
Households: 799 3,329 3,731

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