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2715 E 2nd St 3 Unit Apartment Building $583,464 CAD ($194,488 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 |
$80,018
|
$12.70
|
| Other Income |
$695
|
$0.11
|
| Vacancy Loss |
$3,890
|
$0.62
|
| Effective Gross Income |
$76,823
|
$12.19
|
| Taxes |
$8,248
|
$1.31
|
| Operating Expenses |
$19,171
|
$3.04
|
| Total Expenses |
$27,419
|
$4.35
|
| Net Operating Income |
$49,404
|
$7.84
|
Financial Summary (Pro Forma - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $80,018 |
| Annual Per SF | $12.70 |
| Other Income (CAD) | |
|---|---|
| Annual | $695 |
| Annual Per SF | $0.11 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $3,890 |
| Annual Per SF | $0.62 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $76,823 |
| Annual Per SF | $12.19 |
| Taxes (CAD) | |
|---|---|
| Annual | $8,248 |
| Annual Per SF | $1.31 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $19,171 |
| Annual Per SF | $3.04 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $27,419 |
| Annual Per SF | $4.35 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $49,404 |
| Annual Per SF | $7.84 |
Property Facts
| Price | $583,464 CAD | Apartment Style | Garden |
| Price Per Unit | $194,488 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 | $583,464 CAD |
| Price Per Unit | $194,488 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 | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | R133978 | Total Assessment | $170,403 CAD (2025) |
| Land Assessment | $1,372 CAD (2025) | Annual Taxes | $8,248 CAD ($1.31 CAD/SF) |
| Improvements Assessment | $169,031 CAD (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
R133978
Land Assessment
$1,372 CAD (2025)
Improvements Assessment
$169,031 CAD (2025)
Total Assessment
$170,403 CAD (2025)
Annual Taxes
$8,248 CAD ($1.31 CAD/SF)
Tax Year
2024
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2715 E 2nd St
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