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2715 E 2nd St 3 Unit Apartment Building £313,870 (£104,623/Unit) Lubbock, TX 79403
INVESTMENT HIGHLIGHTS
- 2715 E 2nd Steet offers three duplexes with six units. The unit mix is three bedrooms/two bathrooms.
- There is updated exterior and interior paint, updated vinyl flooring, and improved kitchen and bathroom countertops.
- Nestled in a peaceful suburb of Lubbock near an elementary school, a park, a library, and multiple churches.
- Tenants benefit from covered carport parking on-site.
EXECUTIVE SUMMARY
Reside Real Estate Co. presents three duplexes available for investor acquistion in Lubbock, Texas, at 2715 E 2nd Street; 1728 E Dartmouth Avenue & 1730 E Dartmouth Avenue. Various different upgrades have taken place, and the property is professionally managed by a local property management company, enabling a smooth and hands-off
ownership transition. Each duplex offers three bedrooms, two baths, and carport parking.
Seller Financing is available for these three cash-flowing properties. As of March 2024, the appraisal value was of $504,000. There is rental income potential of $4,800 per month. Inquire today about this premier opportunity to own six cash-flowing units with Seller Financing and 25% Down Payment.
ownership transition. Each duplex offers three bedrooms, two baths, and carport parking.
Seller Financing is available for these three cash-flowing properties. As of March 2024, the appraisal value was of $504,000. There is rental income potential of $4,800 per month. Inquire today about this premier opportunity to own six cash-flowing units with Seller Financing and 25% Down Payment.
FINANCIAL SUMMARY (PRO FORMA - 2024) |
ANNUAL | ANNUAL PER sq ft |
|---|---|---|
| Gross Rental Income |
£43,045
|
£6.83
|
| Other Income |
£374
|
£0.06
|
| Vacancy Loss |
£2,092
|
£0.33
|
| Effective Gross Income |
£41,326
|
£6.56
|
| Taxes |
£4,437
|
£0.70
|
| Operating Expenses |
£10,313
|
£1.64
|
| Total Expenses |
£14,750
|
£2.34
|
| Net Operating Income |
£26,577
|
£4.22
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £43,045 |
| Annual Per sq ft | £6.83 |
| Other Income | |
|---|---|
| Annual | £374 |
| Annual Per sq ft | £0.06 |
| Vacancy Loss | |
|---|---|
| Annual | £2,092 |
| Annual Per sq ft | £0.33 |
| Effective Gross Income | |
|---|---|
| Annual | £41,326 |
| Annual Per sq ft | £6.56 |
| Taxes | |
|---|---|
| Annual | £4,437 |
| Annual Per sq ft | £0.70 |
| Operating Expenses | |
|---|---|
| Annual | £10,313 |
| Annual Per sq ft | £1.64 |
| Total Expenses | |
|---|---|
| Annual | £14,750 |
| Annual Per sq ft | £2.34 |
| Net Operating Income | |
|---|---|
| Annual | £26,577 |
| Annual Per sq ft | £4.22 |
PROPERTY FACTS
| Price | £313,870 | Apartment Style | Garden |
| Price Per Unit | £104,623 | Total Plot Size | 0.18 ac |
| Sale Type | Investment | Property Size | 6,300 sq ft |
| No. Units | 3 | No. Floors | 1 |
| Property Type | Build-to-Rent | Year Built | 1966 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | £313,870 |
| Price Per Unit | £104,623 |
| Sale Type | Investment |
| No. Units | 3 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Total Plot Size | 0.18 ac |
| Property Size | 6,300 sq ft |
| No. Floors | 1 |
| Year Built | 1966 |
| Opportunity Zone |
Yes |
AMENITIES
UNIT AMENITIES
- Air Conditioning
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| 3+2 | 6 | £560.48 | - |
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2715 E 2nd St
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