5909 E 4th, Lubbock, TX 79403
$1,485,000
Property Type:
Residential Income
Bedrooms:
3
Baths:
2
Square Footage:
6,275
Lot Size (sq. ft.):
392,040
Status:
Closed
Current Price:
$1,485,000
List Date:
11/23/2021
Last Modified:
1/31/2025
Description
This rural apartment complex in the Roosevelt school district consists of 27 total units with two laundry facilities, a large workshop, and a maintenance garage/storage. The apartment units are housed in three duplex units, five individual rental units, four single-family homes, and three four-unit apartment buildings. These buildings are spread out over eight acres of land. 24 of the 27 units are occupied. With country appeal and the charm of being outside the city, Chipper Point apartments is a popular location for tenants. The interior condition of these apartments is good. The walls and ceilings are all sheetrock and the floors range from carpets, hardwoods to glue down vinyl. There are single light fixtures as well as ceiling fans with light kits in the rooms. The kitchens have full appliance packages(range/oven, refrigerator, and double-well stainless steel sinks, and wood cabinets with laminate countertops. Some units have dishwashers. See more details attached.
Supplements: ********
More Information MLS# 202111216
Contract Information
Current Price: $1,485,000
Original List Price: 1485000
List Price: $1,485,000
Status: Closed
Listing Contract Date: 2021-11-23
Property Sub Type: Multi Family
Listing Agreement: Exclusive Right To Sell
Owner Name: Sharp Ronnie & Debbie
Location Tax and Legal
Street Number: 5909
Street Direction Prefix: E
Street Name: 4th
County: Lubbock
State: TX
Postal Code: 79403
Zone: 5
General Property Information
Bedrooms Total: 3
Bathrooms Full: 2
Total Bathrooms: 2
Above Grade Finished Area: 6275
Above Grade Finished Area Source: Public Records
Living Area: 6275
Accessibility Features YN: No
Year Built: 2000
Lot Size Acres: 9
Lot Size Square Feet: 392040
Lot Size Source: Other
Association YN: No
Basement YN: No
Stories Total: 1
Pool Private YN: No
Sold Price/Acre: 124777.78
Sold Price/SqFt: 178.96
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: 4, Unit 4 # of Spaces: 2, Unit 3 # of Spaces: 36, Unit 2 # of Spaces: 6, Unit 1 # of Spaces: 20, Unit 5 Occupied: Yes, Unit 4 Occupied: Yes, Unit 3 Occupied: Yes, Unit 2 Occupied: Yes, Unit 1 Occupied: Yes
Public Remarks: This rural apartment complex in the Roosevelt school district consists of 27 total units with two laundry facilities, a large workshop, and a maintenance garage/storage. The apartment units are housed in three duplex units, five individual rental units, four single-family homes, and three four-unit apartment buildings. These buildings are spread out over eight acres of land. 24 of the 27 units are occupied. With country appeal and the charm of being outside the city, Chipper Point apartments is a popular location for tenants. The interior condition of these apartments is good. The walls and ceilings are all sheetrock and the floors range from carpets, hardwoods to glue down vinyl. There are single light fixtures as well as ceiling fans with light kits in the rooms. The kitchens have full appliance packages(range/oven, refrigerator, and double-well stainless steel sinks, and wood cabinets with laminate countertops. Some units have dishwashers. See more details attached.
Status Change Information
Major Change Timestamp: 2023-01-27T23:23:47Z
Major Change Type: Status Change
Status Change Timestamp: 2023-01-27
Purchase Contract Date: 2022-01-14
Close Date: 2023-01-27
Buyer Financing: Seller Financing
Buyer's Lender Closing Costs: No
Income and Expenses
Cap Rate: 9.49
Gross Income: 14300
Net Operating Income: 140900
Lock Box Information
Lock Box Serial Number: n/a
Unit One
Unit SqFt: 2924
Beds Total: 10
Baths Total: 10
Unit Actual Rent: 4750
Accessibility Features YN: No
Unit Description: 1 bed/ 1 Bath apts.
Unit Two
Unit SqFt: 3078
Beds Total: 8
Baths Total: 8
Unit Actual Rent: 2600
Accessibility Features YN: No
Unit Description: 2 Bed/2Bath
Unit Three
Unit SqFt: 6696
Beds Total: 9
Baths Total: 18
Unit Actual Rent: 6450
Parking Details: Detached
Accessibility Features YN: No
Unit Description: 2 bed/1bath
Unit Four
Unit SqFt: 1040
Beds Total: 3
Baths Total: 1
Unit Actual Rent: 1000
Accessibility Features YN: No
Unit Description: 3Bed/1Bath
Unit Five
Unit SqFt: 2810
Beds Total: 6
Baths Total: 4
Unit Actual Rent: 2200
Parking Details: Detached
Accessibility Features YN: No
Unit Description: 3 Bed 2 Bath
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
Construction Materials: Metal Siding; Wood Siding
Cooling: Central Air; Electric
Heating: Central; Electric
Interior Features: Ceiling Fan(s); Walk-In Closet(s)
Lease Term Options: 12 Months
Listing Terms: Cash; Conventional
Lot Features: Zero Lot Line
Other Equipment: None
Other Structures: Storage; Workshop
Parking Features: Off Street
Road Surface Type: Paved
Roof: Composition; Metal
Special Listing Conditions: Standard
Tenant Pays: Cable TV; Electricity; Internet
Utilities: Electricity Available
Window Features: Window Coverings
Listing Office: West Sage, REALTORS
Listing Agent: Michael Hutton
Last Updated: January - 31 - 2025
Information deemed reliable but not guaranteed.