2312 15th Street, Lubbock, TX 79401

Location, Location, Location: Being situated in the TTU and the Medical District places these properties in a high-demand rental market. Proximity to Texas Tech University and the medical facilities ensures a consistent pool of potential tenants or property can be sold separately perfect for first-time buyers looking for a place to call home with instant monthly income ($925) from (2) rear apartment rentals. Main house 1423 SF Rear Apartment - 432 SF Upper Rear Apartment - 432 SF.
Fully Leased: Immediate cash flow is a major plus. No need to worry about vacancies and lease-up periods. The properties are already generating income from day one.
Well-Maintained and Updated: Classic Charm: Original hardwood flooring, adding warmth and character; updated aesthetic and manageable size. The property(s) are in good condition, potentially reducing future maintenance costs and attracting higher-quality tenants.
Discounted Price: The 2.5% discount for a portfolio purchase of all 7 properties (2312 15th Street, 3815 25th Street, 4117 33rd Street, 2708 24th Street, 2207 23nd Street, 1924 21st Street, and 4118 30th Street sold individually at $1,479,500.00) represents a substantial saving, effectively lowering the overall investment cost. Let's delve a little deeper into the numbers: Gross Potential Rent: The current monthly lease revenue of $12,355 translates to an annual potential rent of $148,260. Discounted Purchase Price: Taking advantage of the 2.5% ($37K) discount reduces the total package price $1,439,500.00. Bring Offers! Potential Return: While we don't have all the expense information, these figures allow you to calculate a preliminary gross rental yield, which can help assess the potential return on investment.