3508 E Colgate Street, Lubbock, TX 79403
$465,000
Property Type:
Residential Income
Bedrooms:
15
Baths:
10
Square Footage:
5,406
Lot Size (sq. ft.):
38,254
Status:
Active
Current Price:
$465,000
List Date:
2/25/2025
Last Modified:
2/25/2025
Description
5 out of 5 of the units are occupied cap rate is 7.62%
Supplements: ********
More Information MLS# 202550925
Contract Information
Current Price: $465,000
Original List Price: 465000
List Price: $465,000
Status: Active
Listing Contract Date: 2025-02-25
Property Sub Type: Package Property
Total Number of Properties: 5
Listing Agreement: Exclusive Right To Sell
Owner Name: Henry Munoz
Location Tax and Legal
Street Number: 3508
Street Direction Prefix: E
Street Name: Colgate
Street Suffix: Street
County: Lubbock
State: TX
Postal Code: 79403
Zone: 1
General Property Information
Bedrooms Total: 15
Bathrooms Full: 5
Bathrooms Half: 5
Total Bathrooms: 10
Above Grade Finished Area: 5406
Above Grade Finished Area Source: Public Records
Living Area: 5406
Living Area Source: Public Records
Accessibility Features YN: No
Year Built: 2008
Year Built Source: Public Records
Carport Spaces: 2
Carport YN: Yes
Lot Size Acres: 0.8782
Lot Size Square Feet: 38254
Lot Size Source: Public Records
Association YN: No
Remarks and Miscellaneous
Public Remarks: 5 out of 5 of the units are occupied cap rate is 7.62%
Status Change Information
Major Change Timestamp: 2025-02-25T18:03:42Z
Major Change Type: New Listing
Status Change Timestamp: 2025-02-25
Income and Expenses
Cap Rate: 7.62
Gross Income: 52800
Gross Scheduled Income: 52800
Net Operating Income: 35442
Title Company Information
Title Company: Hub City Title
Package Property 1
Address: 3508 E Colgate St Lubbock, TX 79403
Bedrooms Total: 3
Total Bathrooms: 2
Parking Spaces: 2
Gross Rental Income: 900
Occupied YN: Yes
Remarks: Leased to 3/31/25
Package Property 2
Address: 3512 E Colgate St Lubbock, TX 79403
Bedrooms Total: 3
Total Bathrooms: 2
Parking Spaces: 2
Gross Rental Income: 900
Occupied YN: Yes
Remarks: Leased to 3/31/26
Package Property 3
Address: 3518 E Colgate St Lubbock, TX 79403
Bedrooms Total: 3
Total Bathrooms: 2
Parking Spaces: 2
Gross Rental Income: 950
Occupied YN: Yes
Remarks: Leased to 10/31/25
Package Property 4
Address: 3507 E Baylor St Lubbock, TX 79403
Bedrooms Total: 3
Total Bathrooms: 2
Parking Spaces: 2
Gross Rental Income: 800
Occupied YN: Yes
Remarks: Month to Month
Package Property 5
Address: 507 48th St Lubbock, TX 79404
Bedrooms Total: 3
Total Bathrooms: 2
Gross Rental Income: 850
Occupied YN: Yes
Remarks: Leased to 7/31/25
Property Features
Construction Materials: Vinyl Siding
Cooling: Ceiling Fan(s); Central Air
Heating: Central
Lease Term Options: 12 Months
Listing Terms: 1031 Exchange; Cash; Conventional
Parking Features: Carport
Road Frontage Type: City Street
Road Surface Type: All Weather
Roof: Composition
Tenant Pays: All Utilities
Showing Considerations: Occupied
Listing Office: Brick & Loft Realty
Listing Agent: Collen Melton
Last Updated: February - 25 - 2025
Information deemed reliable but not guaranteed.