2702 23rd Street, Lubbock, TX 79410
$425,000
Property Type:
Residential Income
Bedrooms:
6
Baths:
5
Square Footage:
3,180
Lot Size (sq. ft.):
11,250
Status:
Closed
Current Price:
$425,000
List Date:
6/07/2023
Last Modified:
1/31/2025
Description
Location, location, location! Rare opportunity in Tech Terrace to own a 4-unit investment property! This amazing property currently has total rents at $3205/Mo and new lease in August w/3 units at $3305/Mo, Unit A is being remodeled and will be ready to rent this month for $750. Total proforma $4,055/Mo. Units have been updated and remodeled cosmetically, plus have new plumbing, HVAC, roof. Walking distance to Texas Tech University, restaurants, grocery store, coffee shop, retail stores and short driving distance to Covenant and UMC.
Supplements: ********
More Information MLS# 202307456
Contract Information
Current Price: $425,000
Original List Price: 425000
List Price: $425,000
Status: Closed
Listing Contract Date: 2023-06-07
Property Sub Type: Quadruplex
Listing Agreement: Exclusive Right To Sell
Owner Name: Triple Hearts Of West Texas 5
Location Tax and Legal
Street Number: 2702
Street Name: 23rd
Street Suffix: Street
County: Lubbock
State: TX
Postal Code: 79410
Zone: 3
General Property Information
Bedrooms Total: 6
Bathrooms Full: 5
Total Bathrooms: 5
Above Grade Finished Area: 3180
Above Grade Finished Area Source: Other
Living Area: 3180
Accessibility Features YN: No
Year Built: 1938
Lot Size Acres: 0.2583
Lot Size Square Feet: 11250
Lot Size Source: Public Records
Association YN: No
Basement YN: No
Stories Total: 1
Sold Price/Acre: 1664730.93
Sold Price/SqFt: 135.22
Remarks and Miscellaneous
Public Historical Remarks: Unit 8 # of Spaces: 0, Unit 7 # of Spaces: 0, Unit 6 # of Spaces: 0, Unit 5 # of Spaces: 0, Unit 4 # of Spaces: 0, Unit 3 # of Spaces: 1, Unit 2 # of Spaces: 0, Unit 1 # of Spaces: 0, Unit 4 Occupied: Yes, Unit 3 Occupied: Yes, Unit 2 Occupied: No, Unit 1 Occupied: Yes
Public Remarks: Location, location, location! Rare opportunity in Tech Terrace to own a 4-unit investment property! This amazing property currently has total rents at $3205/Mo and new lease in August w/3 units at $3305/Mo, Unit A is being remodeled and will be ready to rent this month for $750. Total proforma $4,055/Mo. Units have been updated and remodeled cosmetically, plus have new plumbing, HVAC, roof. Walking distance to Texas Tech University, restaurants, grocery store, coffee shop, retail stores and short driving distance to Covenant and UMC.
Status Change Information
Major Change Timestamp: 2023-07-21T22:25:11Z
Major Change Type: Status Change
Status Change Timestamp: 2023-07-21
Purchase Contract Date: 2023-07-01
Close Date: 2023-07-21
Buyer Financing: Cash
Buyer's Lender Closing Costs: Yes
Buyer's Lender Closing Costs Amount: 20000
Income and Expenses
Cap Rate: 8
Gross Scheduled Income: 3995
Unit One
Unit Number: 1
Unit SqFt: 14865
Beds Total: 3
Baths Total: 2
Unit Actual Rent: 1690
Accessibility Features YN: No
Unit Description: Main House
Unit Two
Unit Number: Apt A
Unit SqFt: 683
Beds Total: 1
Baths Total: 1
Unit Actual Rent: 750
Accessibility Features YN: No
Unit Description: Remodel in progress
Unit Three
Unit Number: Apt B
Unit SqFt: 484
Beds Total: 1
Baths Total: 1
Unit Actual Rent: 690
Accessibility Features YN: No
Unit Four
Unit Number: Apt C
Unit SqFt: 526
Beds Total: 1
Baths Total: 1
Unit Actual Rent: 825
Accessibility Features YN: No
Title Company Information
Title Company: Western Title
Title Company Address: 4202 84th St, Lubbock, TX 79423
Title Company Fax: (806) 747-0061
Title Company Phone: (806) 747-3326
Property Features
Appliances: Dryer; Electric Oven; Electric Range; Microwave; Refrigerator; Washer
Architectural Style: Spanish
Construction Materials: Brick; Stucco
Cooling: Central Air; Electric
Fencing: Fenced
Heating: Central; Natural Gas
Lease Term Options: 12 Months
Listing Terms: Cash; Conventional; FHA
Lot Features: Corner Lot; Landscaped
Parking Features: Garage Faces Rear; Garage Faces Side; Off Street; Other
Road Surface Type: Paved
Roof: Composition
Special Listing Conditions: Standard
Tenant Pays: Electricity; Gas
Utilities: Electricity Available
Listing Office: Keller Williams Realty
Listing Agent: Dianna Romans
Last Updated: January - 31 - 2025
Information deemed reliable but not guaranteed.