| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Best |
| Demographics | 51st | Good |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5310 Aberdeen Ave, Lubbock, TX, 79414, US |
| Region / Metro | Lubbock |
| Year of Construction | 1973 |
| Units | 58 |
| Transaction Date | 2015-01-01 |
| Transaction Price | $2,500,000 |
| Buyer | Capital 8 Mission Villas LLC |
| Seller | AREP Mission Villas Apts LLC |
5310 Aberdeen Ave Lubbock Multifamily Value-Add Opportunity
Neighborhood-level occupancy trails national norms, but strong dining and park access and a balanced renter base support demand, according to WDSuite’s CRE market data. Metrics cited reflect neighborhood conditions rather than the specific property.
Situated in Lubbock’s inner-suburban fabric, the area around 5310 Aberdeen Ave scores A- at the neighborhood level and benefits from concentrated lifestyle amenities. Dining density is a standout with restaurants and cafes ranking in the top quartile nationally, while park access is also strong. Grocery access is above national averages, though nearby childcare and pharmacies are comparatively sparse—factors to consider for resident convenience and marketing.
Neighborhood occupancy is below the national median (ranked 63 of 98 within the Lubbock metro), suggesting leasing requires thoughtful asset positioning and management. Median contract rents benchmark below the national midpoint, pointing to a value-oriented renter pool and potential for steady absorption when product is well-maintained.
The building’s 1973 vintage is older than the area’s average construction year (1987 across 98 metro neighborhoods), implying near- to medium-term capital planning for systems, exteriors, and unit finishes. For investors, this can translate into practical value-add opportunities to improve competitiveness against newer stock.
Within a 3-mile radius, households have grown recently and are projected to expand further by 2028, while average household size trends smaller. This combination typically supports a larger tenant base for multifamily. Tenure is roughly balanced, with about half of housing units renter-occupied, indicating depth for leasing while still facing some competition from ownership. Rent-to-income dynamics suggest keeping an eye on affordability pressure and lease management to support retention.
Neighborhood safety indicators compare favorably at the national level, with overall crime measures in an above-average national percentile. Recent data also show sharp year-over-year declines in both violent and property offense estimates, based on WDSuite’s market data. While no neighborhood is risk-free, the directional trend is constructive for long-term leasing stability.
At the metro scale, rankings indicate a mixed picture among Lubbock peers, so investors should underwrite security line items, lighting, and resident experience initiatives to maintain the positive national standing and support retention.
Nearby employment includes industrial distribution that supports a broad workforce, offering commute convenience that can reinforce renter demand and day-time economic activity.
- Airgas Store — industrial gases distribution (5.7 miles)
This 58-unit, larger-average floorplan asset offers a straightforward value-add path in an amenity-rich inner suburb of Lubbock. Neighborhood occupancy trends sit below national medians, but strong food, beverage, and park access and a balanced renter base support demand fundamentals. The 1973 vintage points to targeted renovations and systems upgrades to enhance leasing velocity and rent positioning relative to newer competitive stock.
Within a 3-mile radius, population and household counts have grown and are projected to increase further by 2028, expanding the renter pool and supporting occupancy stability. According to CRE market data from WDSuite, local rents benchmark below national midpoints, which can aid absorption while requiring disciplined expense control and measured rent growth strategies.
- Amenity density (dining, cafes, parks) supports leasing and resident retention.
- 1973 vintage creates clear value-add potential through unit and system upgrades.
- 3-mile household and population growth expands the tenant base and supports occupancy.
- Below-national rent benchmarks can aid absorption with prudent revenue management.
- Risks: below-median neighborhood occupancy, limited nearby childcare/pharmacy, and affordability pressure require careful underwriting and asset management.