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2715 E 2nd St 3 Unit Apartment Building $586,286 CAD ($195,429 CAD/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 (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$80,405
|
$12.76
|
| Other Income |
$698
|
$0.11
|
| Vacancy Loss |
$3,909
|
$0.62
|
| Effective Gross Income |
$77,194
|
$12.25
|
| Taxes |
$8,288
|
$1.32
|
| Operating Expenses |
$19,264
|
$3.06
|
| Total Expenses |
$27,551
|
$4.37
|
| Net Operating Income |
$49,643
|
$7.88
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $80,405 |
| Annual Per SF | $12.76 |
| Other Income (CAD) | |
|---|---|
| Annual | $698 |
| Annual Per SF | $0.11 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $3,909 |
| Annual Per SF | $0.62 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $77,194 |
| Annual Per SF | $12.25 |
| Taxes (CAD) | |
|---|---|
| Annual | $8,288 |
| Annual Per SF | $1.32 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $19,264 |
| Annual Per SF | $3.06 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $27,551 |
| Annual Per SF | $4.37 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $49,643 |
| Annual Per SF | $7.88 |
PROPERTY FACTS
| Price | $586,286 CAD | Apartment Style | Garden |
| Price Per Unit | $195,429 CAD | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 6,300 SF |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1966 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $586,286 CAD |
| Price Per Unit | $195,429 CAD |
| Sale Type | Investment |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Lot Size | 0.18 AC |
| Building Size | 6,300 SF |
| No. Stories | 1 |
| Year Built | 1966 |
| Opportunity Zone |
Yes |
AMENITIES
UNIT AMENITIES
- Air Conditioning
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2 | 6 | $1,047 CAD | - |
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2715 E 2nd St
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