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1915 14th St
Lubbock, TX 79401
060 Lofts · Multifamily Property For Sale
·
28 Units
PROPERTY FACTS
| No. Units | 28 | Building Size | 19,571 SF |
| Property Type | Multifamily | Average Occupancy | 80% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1978 |
| Building Class | C | Parking Ratio | 2.04/1,000 SF |
| Lot Size | 1.20 AC | ||
| Zoning | None | ||
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.20 AC |
| Building Size | 19,571 SF |
| Average Occupancy | 80% |
| No. Stories | 2 |
| Year Built | 1978 |
| Parking Ratio | 2.04/1,000 SF |
| Zoning | None |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Range
ABOUT 1915 14TH ST , LUBBOCK, TX 79401
The O60 Lofts is a 28-unit, 3 building apartment complex in Lubbock, TX. This is a stabilized investment opportunity in a growing market. The proximity to Texas Tech University (less than 1 mile) presents a great opportunity to attract students and university employees. The property is currently operating at an NOI of $103,381 at an 8.27% actual cap. Pro Forma NOI, based on new move in rates and a 9% management fee is $139,743. Average rents at this property is $0.91/sf while the average of comparable units in the area is $1.04/sf. The property has undergone major renovations since 2018. However, it has been operating at around 85% occupancy since the renovations were completed and is trending upwards. The unlevered IRR on this investment is 17.47%. Call Logan: 214-736-1500 Full details here: https://wallergrouphomes.com/properties/?propertyId=560167-sale #dallasapartmentsforsale #dallasinvestmentrealestate #dallasinvestmentsales
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 15 | $598.00 | 588 - 627 |
| 2+1 | 13 | $649.00 | 782 |
