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2715 E 2nd St 3 Unit Apartment Building $583,796 CAD ($194,599 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 |
$80,063
|
$12.71
|
| Other Income |
$695
|
$0.11
|
| Vacancy Loss |
$3,892
|
$0.62
|
| Effective Gross Income |
$76,866
|
$12.20
|
| Taxes |
$8,252
|
$1.31
|
| Operating Expenses |
$19,182
|
$3.04
|
| Total Expenses |
$27,434
|
$4.35
|
| Net Operating Income |
$49,432
|
$7.85
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $80,063 |
| Annual Per SF | $12.71 |
| Other Income (CAD) | |
|---|---|
| Annual | $695 |
| Annual Per SF | $0.11 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $3,892 |
| Annual Per SF | $0.62 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $76,866 |
| Annual Per SF | $12.20 |
| Taxes (CAD) | |
|---|---|
| Annual | $8,252 |
| Annual Per SF | $1.31 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $19,182 |
| Annual Per SF | $3.04 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $27,434 |
| Annual Per SF | $4.35 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $49,432 |
| Annual Per SF | $7.85 |
PROPERTY FACTS
| Price | $583,796 CAD | Apartment Style | Garden |
| Price Per Unit | $194,599 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 | $583,796 CAD |
| Price Per Unit | $194,599 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 | $1,042 CAD | - |
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2715 E 2nd St
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