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175-Unit Rental Portfolio for Sale! 2 Multifamily Properties Offered at $11,000,000 in Lubbock, TX
INVESTMENT HIGHLIGHTS
- 10% CAP RATE AT ASKING PRICE & 90% OCCUPANCY
- BANK FINANCING AVAILABLE
- PASSIVE INCOME - LONG TERM TENANTS
EXECUTIVE SUMMARY
This is an opportunity to purchase 175 rental units. The majority are SFR, with some duplexes, triplexes and quadraplexes. Tenant-base is comprised of long-term, good-standing tenants who pay on time. Many of the rents are averaging 20% below market offering significant upside on top of a great income at purchase.
Most of the units are all in good to great condition and in need of no extensive repairs, with only three units not yet rent ready.
This offering includes:
• 175 rental Units Total
• 150 Separate Properties
• 133 Properties located in Lubbock County, 7 located in Odessa, 7 Slaton & 3 Levelland
• 90% Occupancy-Long Term Tenants
• $1,795,260 Gross Revenue (2025)
• $687,862 Expenses (Includes Management)
• $1,107,398 NOI (2025)
This is a turn-key opportunity offering a great stream of passive income.
Asking Price: $11M OBO
Financing: Financing has been arranged for this purchase for a qualified borrower. Purchaser must have POF’s that indicate liquid capital available for a minimum 20% down payment. Contact David Rivera for further information:
Most of the units are all in good to great condition and in need of no extensive repairs, with only three units not yet rent ready.
This offering includes:
• 175 rental Units Total
• 150 Separate Properties
• 133 Properties located in Lubbock County, 7 located in Odessa, 7 Slaton & 3 Levelland
• 90% Occupancy-Long Term Tenants
• $1,795,260 Gross Revenue (2025)
• $687,862 Expenses (Includes Management)
• $1,107,398 NOI (2025)
This is a turn-key opportunity offering a great stream of passive income.
Asking Price: $11M OBO
Financing: Financing has been arranged for this purchase for a qualified borrower. Purchaser must have POF’s that indicate liquid capital available for a minimum 20% down payment. Contact David Rivera for further information:
TAXES & OPERATING EXPENSES (ACTUAL - 2025) Click Here to Access |
ANNUAL |
|---|---|
| Gross Rental Income |
$99,999
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
$99,999
|
| Taxes |
-
|
| Operating Expenses |
-
|
| Total Expenses |
$99,999
|
| Net Operating Income |
$99,999
|
TAXES & OPERATING EXPENSES (ACTUAL - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Taxes | |
|---|---|
| Annual | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
PROPERTY FACTS
| Price | $11,000,000 | Number of Properties | 2 |
| Price / SF | $3,612 / SF | Individually For Sale | 0 |
| Cap Rate | 10.07% | Total Building Size | 3,045 SF |
| Sale Type | Investment | Total Land Area | 0.31 AC |
| Status | Active |
| Price | $11,000,000 |
| Price / SF | $3,612 / SF |
| Cap Rate | 10.07% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 3,045 SF |
| Total Land Area | 0.31 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 1609 29th St, Lubbock, TX 79411 | Multifamily | 1,735 SF | 1943 | - |
| 1933 E Colgate St, Lubbock, TX 79403 | Multifamily | 1,310 SF | 1962 | - |
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CONTACTS
-
Jennifer Stein Real Estate Inc Jennifer Stein -
Benny
Spensieri
- Jennifer Stein Real Estate Inc
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175-Unit Rental Portfolio for Sale!
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