303 Detroit Ave, Lubbock, TX 79415

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Building Details:

DESCRIPTION. Savoy is a 66-unit student housing community located adjacent to Texas Tech University. The property is less than a three minute drive to the following popular eating destinations: Chick-fil-a, Panda Express, Chili's, Starbucks, Papa Johns, Whataburger, Chipotle, Golden Chick, Potbelly’s, Dion's, Raising Cain's, and many more. There is great upside potential in converting the rental structure to "Rent by the Bed". The rents at Savoy are extremely low averaging only $0.97 PSF. Nearby properties, including the adjacent property Raider Walk, are averaging $1.30 PSF and higher. Along with the Savoy Apartments, there is an additional 2.55 of contiguous acres that must be purchased along with the apartments. This provides investors the unique opportunity to own and develop the last remaining student housing tract adjacent to Texas Tech University. This is the next high profile Student Housing development tract available adjacent to the campus. This 4.47 acre tract can be approved for a redevelop

• Available Spaces

Suite	Space Type	Pricing	Size
---	Multi-Family Space	For sale: $5,450,000
View Details Listing company: CBC Corporate Pricing: $5,450,000 Availability: Now Listing ID: 1578272 Save to list