1501 & 1503 County Road 14, Lamesa, TX 79331
$380,000
Property Type:
Residential Income
Bedrooms:
4
Baths:
4
Square Footage:
2,500
Lot Size (sq. ft.):
217,800
Status:
Active
Current Price:
$380,000
List Date:
3/21/2025
Last Modified:
3/28/2025
Description
Incredible investment opportunity! This 5-acre property, located just a quarter mile from Highway 87, features five residential units, including two brick homes and three mobile homes, along with two wells on-site. The rental income potential is strong, with current and past rents as follows:
- 3BR/2BA brick home - Currently rented for $1,200/month
- 1BR/1BA trailer - Last rented for $800/month
- 2BR/2BA trailer - Last rented for $800/month
- 3BR/2BA trailer - Last rented for $1,000/month (currently gutted and ready for remodel)
- 4BR/4BA brick home - Previously owner-occupied, offering potential for rental or primary residence
With two wells, multiple income-producing units, and easy access to Highway 87, this property is ideal for investors, multi-generational living, or those looking to generate passive income. Potential rental income easy surpasses the 1% rule. Don't miss this versatile and high-potential opportunity—contact me today for more details!
Supplements: ********
More Information MLS# 202552049
Contract Information
Current Price: $380,000
Original List Price: 380000
List Price: $380,000
Status: Active
Listing Contract Date: 2025-03-18
Property Sub Type: Package Property
Total Number of Properties: 1
Listing Agreement: Exclusive Right To Sell
Owner Name: Arvana LLC
Location Tax and Legal
Street Number: 1501 & 1503
Street Name: County Road 14
County: Dawson
State: TX
Postal Code: 79331
Zone: Dawson County
General Property Information
Bedrooms Total: 4
Bathrooms Full: 4
Total Bathrooms: 4
Above Grade Finished Area: 2500
Above Grade Finished Area Source: Public Records
Living Area: 2500
Living Area Source: Public Records
Accessibility Features YN: No
Year Built: 1948
Year Built Source: Public Records
Garage YN: No
Carport Spaces: 1
Carport YN: Yes
Lot Size Acres: 5
Lot Size Square Feet: 217800
Lot Size Source: Public Records
Association YN: No
Waterfront YN: No
Basement YN: Yes
Fireplace YN: Yes
Fireplaces Total: 1
Pool Private YN: No
Spa YN: No
Remarks and Miscellaneous
Public Remarks: Incredible investment opportunity! This 5-acre property, located just a quarter mile from Highway 87, features five residential units, including two brick homes and three mobile homes, along with two wells on-site. The rental income potential is strong, with current and past rents as follows:
- 3BR/2BA brick home - Currently rented for $1,200/month
- 1BR/1BA trailer - Last rented for $800/month
- 2BR/2BA trailer - Last rented for $800/month
- 3BR/2BA trailer - Last rented for $1,000/month (currently gutted and ready for remodel)
- 4BR/4BA brick home - Previously owner-occupied, offering potential for rental or primary residence
With two wells, multiple income-producing units, and easy access to Highway 87, this property is ideal for investors, multi-generational living, or those looking to generate passive income. Potential rental income easy surpasses the 1% rule. Don't miss this versatile and high-potential opportunity—contact me today for more details!
Status Change Information
Major Change Timestamp: 2025-03-21T23:12:28Z
Major Change Type: New Listing
Status Change Timestamp: 2025-03-21
Unit Details
Number Of Units Leased: 1
Unit One
Unit Number: 1503
Beds Total: 4
Baths Total: 4
Carport Spaces: 1
Fireplace YN: Yes
Accessibility Features YN: No
Unit Description: Updated in some areas.
Unit Two
Unit Number: 1501
Beds Total: 3
Baths Total: 2
Unit Actual Rent: 1200
Carport Spaces: 1
Unit Description: Dated but well maintained.
Unit Three
Unit Number: #1
Beds Total: 1
Baths Total: 1
Unit Actual Rent: 800
Unit Description: Recently rented. Tenant left some belongings, but unit is livable.
Unit Four
Unit Number: #2
Beds Total: 2
Baths Total: 2
Unit Actual Rent: 800
Unit Description: Moderately updated. Ready for move-in.
Unit Five
Unit Number: #3
Beds Total: 3
Baths Total: 2
Unit Actual Rent: 1000
Unit Condition: Fixer
Unit Description: Ready for remodel, but is not currently in living condition.
Title Company Information
Title Company: South Plains Abst
Title Company Address: 408 N 1st St, Lamesa, TX 79331
Title Company Fax: 806-872-2904
Title Company Phone: 806-872-3023
Property Features
Appliances: Exhaust Fan; Gas Cooktop; Microwave; Washer/Dryer
Construction Materials: Brick; Metal Siding
Cooling: Ceiling Fan(s); Central Air; Electric; Wall/Window Unit(s)
Exterior Features: Private Entrance
Fencing: Wrought Iron
Flooring: Hardwood; Laminate; Tile
Heating: Central; Electric; Fireplace(s); Space Heater
Interior Features: Ceiling Fan(s)
Laundry Features: Electric Dryer Hookup; Inside; Washer Hookup
Listing Terms: Cash; Conventional
Other Equipment: TV Antenna
Other Structures: Mobile Home
Parking Features: Carport; Driveway
Patio And Porch Features: Deck
Road Frontage Type: County Road
Road Surface Type: Dirt
Roof: Metal
Security Features: Smoke Detector(s)
Sewer: Septic Tank
Utilities: Cable Connected; Electricity Connected
Water Heater: Electric
Water Source: Well
Window Features: Screens
Additional Rooms in Unit 1: 2 Living Areas
Showing Considerations: Pet(s) on Premises
Listing Office: L3 Brokers
Listing Agent: Derek Dominguez
Last Updated: March - 28 - 2025
Information deemed reliable but not guaranteed.