11601 County Rd 2360, Lubbock, TX 79404
New Listing
$2,700,000
Property Type:
Commercial Sale
Square Footage:
18,784
Lot Size (sq. ft.):
480,031
Status:
Active
Current Price:
$2,700,000
List Date:
5/01/2025
Last Modified:
5/01/2025
Description
Fantastic multi-family property located on the Southeast side of Lubbock! 18 units of well kept "cowboy cottages" which are 100% occupied. Each unit has horse pens with loafing sheds available. Current income is over $25,000 per month, with room to add 6 more units. All tenants have access to a lighted roping arena. Do not miss out on this unique property with a great return on investment.
Supplements: ********
More Information MLS# 202554018
Contract Information
Current Price: $2,700,000
Original List Price: 27000000
List Price: $2,700,000
Status: Active
Listing Contract Date: 2025-05-01
Property Sub Type: Multi Family
Listing Agreement: Exclusive Right To Sell
Occupant Type: Tenant
Location Tax and Legal
Street Number: 11601
Street Name: County Rd 2360
County: Lubbock
State: TX
Postal Code: 79404
Zone: 6
General Property Information
Above Grade Finished Area: 18784
Above Grade Finished Area Source: Public Records
Building Area Total: 18784
Building Area Source: Public Records
Year Built: 2016
Lot Size Acres: 11.02
Lot Size Square Feet: 480031.2
Lot Size Source: Public Records
List Price/Acre: 245009.07
List Price/SqFt: 143.74
Remarks and Miscellaneous
Public Remarks: Fantastic multi-family property located on the Southeast side of Lubbock! 18 units of well kept "cowboy cottages" which are 100% occupied. Each unit has horse pens with loafing sheds available. Current income is over $25,000 per month, with room to add 6 more units. All tenants have access to a lighted roping arena. Do not miss out on this unique property with a great return on investment.
Status Change Information
Major Change Timestamp: 2025-05-01T20:03:08Z
Major Change Type: Price Reduced
Price Change Timestamp: 2025-05-01T20:03:08Z
Status Change Timestamp: 2025-05-01
Income and Expenses
Electric Expense: 1347
Gross Income: 301800
Insurance Expense: 17284
Net Operating Income: 253329
Total Actual Rent: 301800
Trash Expense: 7620
Land Details
Minerals Available: No
Showing Information
Showing Instructions: Call or text Matt 806-544-3627
Property Features
Business Information Source: Owner
Business Type: Real Estate; Rental; Residential
Construction Materials: Wood Siding
Cooling: Ceiling Fan(s); Central Air
Flooring: Plank
Foundation Details: Slab
Heating: Central; Electric
Listing Terms: 1031 Exchange; Cash; Conventional
Lot Features: Pasture
Parking Features: Attached Carport
Road Surface Type: All Weather
Roof: Metal
Security Features: None
Sewer: Septic Tank
Special Listing Conditions: Standard
Tenant Pays: Electricity
Utilities: Electricity Connected; Sewer Connected
Water Source: Well
Showing Considerations: Occupied
Showing Requirements: 24 Hour Notice; Call Listing Office
Listing Office: Texas Home and Land Connection
Listing Agent: Leslie Mealem
Last Updated: May - 01 - 2025
Information deemed reliable but not guaranteed.