11621 Evanston Avenue, 11629, Lubbock, TX 79424
$1,000,000
Property Type:
Residential Income
Bedrooms:
3
Baths:
2
Square Footage:
7,815
Lot Size (sq. ft.):
20,000
Status:
Closed
Current Price:
$1,000,000
List Date:
5/07/2024
Last Modified:
1/31/2025
Description
Offered for sale is a 5-plex building of Jordan Wheatley townhomes. Built in 2020 offering high quality construction, efficient design and a great investment opportunity. Located in Lubbock Cooper ISD, these 3 bedroom, 2 bathroom, 2 car garage townhomes total 5 units and have rented for $1,495-$1,595/mo with room to grow in rental income. Each unit is identical size and totals 1,563 square feet. Features include: Ceramic Tile & Carpet flooring, granite counters, vaulted ceilings, turf and xeriscape in the front with sod/sprinkler in the back. Pre-inspected and ready to sell. This low maintenance investment has been well cared for and has Class A quality with luxury investor appeal. With a Rental value of $1,700/mo this property has incredible upside. The former property manager did not raise rents for 3 years. Historically 100% Fully occupied. Schedule for a showing today!
Supplements: ********
More Information MLS# 202406514
Contract Information
Current Price: $1,000,000
Original List Price: 1000000
List Price: $1,000,000
Status: Closed
Listing Contract Date: 2024-05-07
Property Sub Type: Multi Family
Listing Agreement: Exclusive Right To Sell
Owner Name: Ruben Reserves, LLC
Location Tax and Legal
Street Number: 11621
Street Name: Evanston
Street Suffix: Avenue
County: Lubbock
State: TX
Postal Code: 79424
Zone: 7
General Property Information
Bedrooms Total: 3
Bathrooms Full: 2
Total Bathrooms: 2
Above Grade Finished Area: 7815
Above Grade Finished Area Source: Public Records
Living Area: 7815
Accessibility Features YN: No
Year Built: 2020
Garage YN: Yes
Attached Garage YN: Yes
Garage Spaces: 2
Carport YN: No
Lot Size Acres: 0.4591
Lot Size Square Feet: 20000
Basement YN: No
Stories Total: 1
Pool Private YN: No
Sold Price/Acre: 2178174.69
Sold Price/SqFt: 127.96
Remarks and Miscellaneous
Public Historical Remarks: Streets: 2 Way Access, Misc Exterior: Sprinkler System, Streets: Brick, Unit 8 # of Spaces: 0, Unit 7 # of Spaces: 0, Unit 6 # of Spaces: 0, Unit 5 # of Spaces: 2, Unit 4 # of Spaces: 2, Unit 3 # of Spaces: 2, Unit 2 # of Spaces: 2, Unit 1 # of Spaces: 2, Unit 1 Occupied: No, Survey Available: No
Public Remarks: Offered for sale is a 5-plex building of Jordan Wheatley townhomes. Built in 2020 offering high quality construction, efficient design and a great investment opportunity. Located in Lubbock Cooper ISD, these 3 bedroom, 2 bathroom, 2 car garage townhomes total 5 units and have rented for $1,495-$1,595/mo with room to grow in rental income. Each unit is identical size and totals 1,563 square feet. Features include: Ceramic Tile & Carpet flooring, granite counters, vaulted ceilings, turf and xeriscape in the front with sod/sprinkler in the back. Pre-inspected and ready to sell. This low maintenance investment has been well cared for and has Class A quality with luxury investor appeal. With a Rental value of $1,700/mo this property has incredible upside. The former property manager did not raise rents for 3 years. Historically 100% Fully occupied. Schedule for a showing today!
Status Change Information
Major Change Timestamp: 2024-06-14T22:26:34Z
Major Change Type: Status Change
Status Change Timestamp: 2024-06-14
Purchase Contract Date: 2024-05-16
Close Date: 2024-06-14
Buyer Financing: Cash
Buyer's Lender Closing Costs: No
Income and Expenses
Cap Rate: 5
Gross Scheduled Income: 89700
Net Operating Income: 52370
Unit One
Unit Number: 11621
Unit SqFt: 1563
Beds Total: 3
Baths Total: 2
Unit Actual Rent: 1495
Parking Details: Attached
Accessibility Features YN: No
Unit Description: 3/2/2
Unit Two
Unit Number: 11623
Unit SqFt: 1563
Beds Total: 3
Baths Total: 2
Unit Actual Rent: 1495
Parking Details: Attached
Accessibility Features YN: No
Unit Description: 3/2/2
Unit Three
Unit Number: 11625
Unit SqFt: 1563
Beds Total: 3
Baths Total: 2
Unit Actual Rent: 1495
Parking Details: Attached,Detached
Accessibility Features YN: No
Unit Description: 3/2/2
Unit Four
Unit Number: 11627
Unit SqFt: 1563
Beds Total: 3
Baths Total: 2
Unit Actual Rent: 1495
Parking Details: Attached,Detached
Accessibility Features YN: No
Unit Description: 3/2/2
Unit Five
Unit Number: 11629
Unit SqFt: 1563
Beds Total: 3
Baths Total: 2
Unit Actual Rent: 1595
Parking Details: Attached,Detached
Accessibility Features YN: No
Unit Description: 3/2/2
Title Company Information
Title Company: Title One
Title Company Address: 6102 82nd St. #11 Lubbock, TX 79424
Title Company Fax: (806) 771-0663
Title Company Phone: (806) 771-7770
Property Features
Appliances: Dishwasher; Refrigerator
Construction Materials: Brick
Cooling: Central Air; Electric
Exterior Features: Outdoor Kitchen
Fencing: Fenced
Heating: Central; Electric
Interior Features: Ceiling Fan(s); Walk-In Closet(s)
Lease Term Options: 12 Months
Listing Terms: Cash; Conventional
Lot Features: Landscaped; Sprinklers In Rear; Zero Lot Line
Other Equipment: None
Parking Features: Attached; Garage; On Street
Patio And Porch Features: Covered; Patio
Road Surface Type: Paved
Roof: Composition
Special Listing Conditions: Standard
Tenant Pays: All Utilities
Utilities: Electricity Available
Window Features: Window Coverings
Documents
Survey ›Listing Office: Keller Williams Realty
Listing Agent: Doug Duncan
Last Updated: January - 31 - 2025
Information deemed reliable but not guaranteed.