1314 65 Dr, Lubbock, TX 79412
9 Unit Apartment Complex! Estimated ARV $720k 9 units – tenants pay utilities, we pay for water 5 – 2 bed 1 bath units 4 – 1 bed 1 bath unit Market Rent $7,100 -7,500 Current Rent $6320 (as of this month, cashflow report will not show) Add $850/mo to the monthly NOI. Value add potential! Renovated units are leased at market rent! Some still have long term tenants in there that need to be renovated. There are 4 – 950 sqft units and 4 – 812sqft units and one 430 sqft unit rented at $550/mo. There are still a few units that can be turned into 2 bedroom units for value add along with buildable space in the back, charging for covered parking and extending the covered parking spaces. Willing to get creative on this deal but cannot seller finance the entire purchase, will need to be a 2nd position at favorable terms to you!