6505 Avenue Q, Lubbock, TX 79412
$450,000
Property Type:
Commercial Sale
Square Footage:
7,955
Lot Size (sq. ft.):
18,160
Status:
Active
Current Price:
$450,000
List Date:
5/09/2025
Last Modified:
6/11/2025
Description
Great Investment Opportunity!!! This 12-unit apartment complex presents an incredible value-add opportunity for investors. With all 12 units currently vacant, this property is primed for renovation and repositioning to maximize rental income. Unit 1 is a 2 bed, 1 bath with the 11 remaining units being 1 bed, 1 baths. Gas and water are on the same meter while electricity is metered individually for each unit. With some TLC and proper management, this complex has the potential to generate cash flow in a rental market where demand remains steady. Whether you're looking to flip or hold, this is your chance to bring new life to a multifamily asset.
Supplements: ********
More Information MLS# 202554437
Contract Information
Current Price: $450,000
Original List Price: 475000
List Price: $450,000
Status: Active
Listing Contract Date: 2025-05-09
Property Sub Type: Multi Family
Listing Agreement: Exclusive Right To Sell
Owner Name: GROVE IV GRANTOR TRUST 1
Occupant Type: Vacant
Location Tax and Legal
Street Number: 6505
Street Name: Avenue Q
County: Lubbock
State: TX
Postal Code: 79412
Zone: 2
General Property Information
Above Grade Finished Area: 7955
Above Grade Finished Area Source: Public Records
Building Area Total: 7955
Building Area Source: Public Records
Year Built: 1974
Lot Size Acres: 0.4169
Lot Size Square Feet: 18160
Lot Size Source: Public Records
Stories Total: 2
List Price/Acre: 1071428.57
List Price/SqFt: 56.57
Remarks and Miscellaneous
Public Remarks: Great Investment Opportunity!!! This 12-unit apartment complex presents an incredible value-add opportunity for investors. With all 12 units currently vacant, this property is primed for renovation and repositioning to maximize rental income. Unit 1 is a 2 bed, 1 bath with the 11 remaining units being 1 bed, 1 baths. Gas and water are on the same meter while electricity is metered individually for each unit. With some TLC and proper management, this complex has the potential to generate cash flow in a rental market where demand remains steady. Whether you're looking to flip or hold, this is your chance to bring new life to a multifamily asset.
Status Change Information
Major Change Timestamp: 2025-06-11T16:49:16Z
Major Change Type: Price Reduced
Price Change Timestamp: 2025-06-11T16:49:16Z
Status Change Timestamp: 2025-05-09
Land Details
Minerals Available: No
Property Features
Foundation Details: Slab
Listing Terms: 1031 Exchange; Cash; Conventional
Showing Requirements: See Remarks
Listing Office: Aycock Realty Group, LLC
Listing Agent: Sol Carver
Last Updated: June - 11 - 2025
Information deemed reliable but not guaranteed.