Log In/Sign Up
Your email has been sent.
Cottage Point Apartments 306 Toledo Ave 70 Unit Apartment Building For Sale Lubbock, TX 79416
INVESTMENT HIGHLIGHTS
- Located just 3 miles from Texas Tech
- Open floor plans
EXECUTIVE SUMMARY
This well-located 70-unit asset presents a compelling value-add opportunity for investors. With strong fundamentals and upside potential through renovation and repositioning, the property offers an attractive entry point at a price significantly below replacement cost.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$950,736
|
$19.58
|
| Other Income |
$173,299
|
$3.57
|
| Vacancy Loss |
$139,355
|
$2.87
|
| Effective Gross Income |
$984,681
|
$20.28
|
| Taxes |
$112,111
|
$2.31
|
| Operating Expenses |
$604,933
|
$12.46
|
| Total Expenses |
$717,044
|
$14.77
|
| Net Operating Income |
$267,637
|
$5.51
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $950,736 |
| Annual Per SF | $19.58 |
| Other Income (CAD) | |
|---|---|
| Annual | $173,299 |
| Annual Per SF | $3.57 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $139,355 |
| Annual Per SF | $2.87 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $984,681 |
| Annual Per SF | $20.28 |
| Taxes (CAD) | |
|---|---|
| Annual | $112,111 |
| Annual Per SF | $2.31 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $604,933 |
| Annual Per SF | $12.46 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $717,044 |
| Annual Per SF | $14.77 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $267,637 |
| Annual Per SF | $5.51 |
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 1.53 AC |
| No. Units | 70 | Building Size | 48,561 SF |
| Property Type | Multifamily | Average Occupancy | 91% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1975 |
| Building Class | C | Parking Ratio | 0.82/1,000 SF |
| Zoning | MF | ||
| Sale Type | Investment |
| No. Units | 70 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.53 AC |
| Building Size | 48,561 SF |
| Average Occupancy | 91% |
| No. Stories | 3 |
| Year Built | 1975 |
| Parking Ratio | 0.82/1,000 SF |
| Zoning | MF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Heating
- Kitchen
- Refrigerator
- Range
- Walk-In Closets
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 19 | $970.16 CAD | 450 |
| 1+1 | 18 | $1,110 CAD | 656 |
| 2+1 | 33 | $1,249 CAD | 749 |
1 1
1 of 25
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Cottage Point Apartments | 306 Toledo Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.