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2101 82nd St
Lubbock, TX 79423
Autumn Ridge Apartments · Multifamily Property For Sale
·
47 Units
Property Facts
| No. Units | 47 | Building Size | 32,935 SF |
| Property Type | Multifamily | Average Occupancy | 98% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Garden | Year Built | 2003 |
| Building Class | C | Parking Ratio | 2.31/1,000 SF |
| Lot Size | 2.67 AC |
| No. Units | 47 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.67 AC |
| Building Size | 32,935 SF |
| Average Occupancy | 98% |
| No. Stories | 1 |
| Year Built | 2003 |
| Parking Ratio | 2.31/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Walk-In Closets
- Yard
- Wheelchair Accessible (Rooms)
About 2101 82ND ST , LUBBOCK, TX 79423
The subject property affords investors the rare opportunity to acquire a superbly located 47-unit apartment property located in Lubbock, TX. Built originally in 2003, the property is situated on 2.67 Acres of land and boast sixteen 1-bedroom/1-Bathroom units and thirty-one 2-bedroom/2-bathroom units. All units feature front and rear entrances with patios and washer/dryer combo. With proposed financing a prospective Investor can realize cash-on-cash returns of over 10% with this property. Current renal rates for the property are 15% below market, giving a new owner the ability to immediately increase cash on cash returns. The historical occupancy stands at 98%. Property is invididually metered for all ulilities and is billed back to tenants through RUBS. The property is located on the south-west corner of 82nd Street and Avenue U and in close proximity of shopping and entertainment. Texas Tech University is located 4 miles away where current student enrollment stands at almost 39,000 students and aiming for 44,000 by 2025.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | 565 |
| 2+2 | 31 | - | 855 |
Property Taxes
| Parcel Number | R142410 | Improvements Assessment | $1,270,764 |
| Land Assessment | $349,236 | Total Assessment | $1,620,000 |
Property Taxes
