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Laura Johnson

laura.johnson@exprealty.com +1(806) 805-4677

$ 525,000

Est. payment | -/mo

16 Beds

8 Baths

6,630 SqFt

Save

$ 525,000

Est. payment | -/mo

Save

16 Beds

8 Baths

6,630 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,630 sqft

Price per Sqft $79

MLS Listing ID 202603063

Bedrooms 16

Full Baths 8

Year Built 1960

Annual Tax Amount $2,760

Lot Size 0.478 Acres

Acres 0.48

Property Sub-Type Multi Family

Source Lubbock Association of REALTORS®

Property Description

8-Unit Multifamily Investment Opportunity - Central Lubbock Excellent opportunity to acquire an 8-unit multifamily community in a centrally located Lubbock neighborhood near 34th Street & Avenue Q. Each unit features a 2-bedroom, 1-bath floor plan, making them highly desirable for tenants seeking affordable housing close to major employers and universities. Current neighborhood rents for similar units range from $750-$875 per month, presenting a strong value-add opportunity for investors. With strategic capital improvements and professional management, rents could be positioned toward the upper end of the market, creating a potential gross monthly income of approximately $7,000 when fully optimized. The property benefits from a highly convenient location just minutes from major employment and education centers, including: Only 6 minutes from Texas Tech University About 10 minutes to University Medical Center Roughly 10 minutes to the Leprino Foods Company cheese manufacturing facility This proximity supports steady rental demand from students, medical professionals, and local workforce tenants. Investment Highlights 8 total units All units: 2 bedroom / 1 bathroom Strong rental demand area Value-add potential through capital improvements Market rents: $750-$875 per unit Potential gross income: $7,000/month Central location with quick access to major employers Whether you're looking to expand your rental portfolio or secure a value-add multifamily asset, this property offers both stable cash flow potential and upside through improved rents.

Location

State TX

County Lubbock

Area 2

Rooms

Basement Basement

Interior

Interior Features See Remarks

Heating Electric

Cooling Wall/Window Unit(s)

Exterior

Parking Features Shared Driveway, Parking Lot

Utilities Available Electricity Connected, Water Connected

Roof Type Composition

Building

Sewer Public Sewer

New Construction No

Schools

Elementary Schools Bean

Middle Schools Dunbar College Preparatory Academy

High Schools Estacado

Others

Tax ID R57890

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Listed by Southern Magnolia Real Estate

Nearby Locations

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

+1(806) 805-4677

laura.johnson@exprealty.com

Lubbock, TX, 79424, USA

1510 29th Place Lubbock, TX 79411