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1303 65th Dr 29 Unit Apartment Building $1,595,000 ($55,000/Unit) 9% Cap Rate Lubbock, TX 79412
Executive Summary
Private Lender Selling REO multi-family 29 unit. Opportunity for low down payment, seller finance.
Financial Summary (Pro Forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,595,000 | Apartment Style | Garden |
| Price Per Unit | $55,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.46 AC |
| Cap Rate | 9% | Building Size | 29,574 SF |
| Sale Condition | REO Sale | Average Occupancy | 85% |
| No. Units | 29 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1965/2024 |
| Property Subtype | Apartment | Parking Ratio | 1.69/1,000 SF |
| Zoning | C4 | ||
| Price | $1,595,000 |
| Price Per Unit | $55,000 |
| Sale Type | Investment |
| Cap Rate | 9% |
| Sale Condition | REO Sale |
| No. Units | 29 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.46 AC |
| Building Size | 29,574 SF |
| Average Occupancy | 85% |
| No. Stories | 2 |
| Year Built/Renovated | 1965/2024 |
| Parking Ratio | 1.69/1,000 SF |
| Zoning | C4 |
Amenities
Site Amenities
- Courtyard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 9 | $725.00 | - |
| 1+1 | 20 | $595.00 | - |
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Property Taxes
| Parcel Number | R132765 | Total Assessment | $865,000 |
| Land Assessment | $38,253 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $826,747 | Tax Year | 2025 |
Property Taxes
Parcel Number
R132765
Land Assessment
$38,253
Improvements Assessment
$826,747
Total Assessment
$865,000
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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1303 65th Dr
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