Package Property 2, Lubbock, TX 79412
$460,000
Property Type:
Residential Income
Bedrooms:
15
Baths:
10
Square Footage:
5,340
Lot Size (sq. ft.):
31,904
Status:
Active
Current Price:
$460,000
List Date:
2/23/2025
Last Modified:
2/25/2025
Description
3 out of the 5 units are rented. Pro-forma cap rate at 100% occupancy is 8.25%.
Supplements: ********
More Information MLS# 202550866
Contract Information
Current Price: $460,000
Original List Price: 460000
List Price: $460,000
Status: Active
Listing Contract Date: 2025-02-23
Property Sub Type: Package Property
Total Number of Properties: 5
Listing Agreement: Exclusive Right To Sell
Owner Name: Munoz Henry S
Location Tax and Legal
Street Number: Package
Street Name: Property 2
County: Lubbock
State: TX
Postal Code: 79412
Zone: 2
General Property Information
Bedrooms Total: 15
Bathrooms Full: 5
Bathrooms Half: 5
Total Bathrooms: 10
Above Grade Finished Area: 5340
Above Grade Finished Area Source: Public Records
Living Area: 5340
Living Area Source: Public Records
Accessibility Features YN: No
Year Built: 2006
Carport Spaces: 2
Carport YN: Yes
Lot Size Acres: 0.7324
Lot Size Square Feet: 31904
Lot Size Source: Public Records
Association YN: No
Remarks and Miscellaneous
Public Remarks: 3 out of the 5 units are rented. Pro-forma cap rate at 100% occupancy is 8.25%.
Status Change Information
Major Change Timestamp: 2025-02-23T06:00:00Z
Major Change Type: New Listing
Status Change Timestamp: 2025-02-23
Income and Expenses
Cap Rate: 8.25
Gross Income: 55620
Gross Scheduled Income: 33600
Net Operating Income: 37971
Title Company Information
Title Company: Hub City Title
Package Property 1
Address: 1801 38th St Lubbock, TX 79412
Bedrooms Total: 3
Total Bathrooms: 2
Parking Spaces: 2
Gross Rental Income: 950
Occupied YN: Yes
Remarks: Leased to 11/30/25
Package Property 2
Address: 1803 38th St Lubbock, TX 79412
Bedrooms Total: 3
Total Bathrooms: 2
Parking Spaces: 2
Occupied YN: No
Remarks: Vacant - 885 = Market Rent
Package Property 3
Address: 1805 38th St Lubbock, TX 79412
Bedrooms Total: 3
Total Bathrooms: 2
Parking Spaces: 2
Gross Rental Income: 900
Occupied YN: Yes
Remarks: Leased to 1/31/26
Package Property 4
Address: 1807 38th St Lubbock, TX 79412
Bedrooms Total: 3
Total Bathrooms: 2
Parking Spaces: 2
Occupied YN: Yes
Remarks: Vacant - Market Rent = 950
Package Property 5
Address: 1809 38th St Lubbock, TX 79412
Bedrooms Total: 3
Total Bathrooms: 2
Parking Spaces: 2
Gross Rental Income: 950
Occupied YN: Yes
Remarks: Leased to 11/30/25
Property Features
Construction Materials: Vinyl Siding
Cooling: Ceiling Fan(s); Central Air
Fencing: Back Yard
Heating: Central
Lease Term Options: 12 Months; Other
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.