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4535 22nd Pl - 4509-4535 22nd Pl 14 Unit Apartment Building Offered at $5,550,000 Lubbock, TX 79407

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Executive Summary

An exceptional opportunity to acquire a package of fully leased, 14 luxury single-family homes located on one contiguous block in Lubbock, Texas—a rare offering in a location that cannot be replicated.
Positioned just minutes from Lubbock’s Medical District, both major hospitals, and Texas Tech University, this portfolio benefits from constant tenant demand driven by healthcare professionals, university affiliates, and executive renters. Immediate access to the Marsha Sharp Freeway provides strong visibility, seamless connectivity, and ease of commute throughout the city—further supporting long-term occupancy and rental performance. The homes are also walkable to United’s Market Street, adding everyday convenience and lifestyle appeal.
Developed, built, and meticulously maintained by the original builder, Flatland Homes by Trey Strong, each residence reflects a commitment to modern design, quality construction, and low-maintenance living. The portfolio includes a mix of 2- and 3-bedroom floorplans, thoughtfully designed to meet the needs of today’s renters seeking upscale finishes and efficient layouts.
This is a turnkey luxury rental investment in one of Lubbock’s most supply- constrained areas for single-family housing—offering scale, consistency, and a location that continues to drive strong demand.

Attachments

Brochure-116

Financial Summary (Actual - 2025)

Annual Annual Per SF
Gross Rental Income $429,600 $16.78
Other Income - -
Vacancy Loss - -
Effective Gross Income $429,600 $16.78
Taxes $60,808 $2.38
Operating Expenses $23,847 $0.93
Total Expenses $84,655 $3.31
Net Operating Income $344,945 $13.48

Financial Summary (Actual - 2025)

Gross Rental Income
Annual $429,600
Annual Per SF $16.78
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $429,600
Annual Per SF $16.78
Taxes
Annual $60,808
Annual Per SF $2.38
Operating Expenses
Annual $23,847
Annual Per SF $0.93
Total Expenses
Annual $84,655
Annual Per SF $3.31
Net Operating Income
Annual $344,945
Annual Per SF $13.48

Property Facts

Price $5,550,000
Price Per Unit $396,429
Sale Type Investment
Sale Conditions
1031 Exchange
  • Bulk/Portfolio Sale
No. Units 14
Property Type Multifamily
Apartment Style Single-Family Home
Lot Size 2.02 AC
Building Size 25,595 SF
Average Occupancy 100%
No. Stories 1
Year Built 2022
Zoning SF-2

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+2 3 $2,400 1,500 - 1,532
3+2 10 $2,500 1,701 - 1,931
3+3.5 1 $2,700 1,951

Property Taxes

Property Taxes

Parcel Number
R325857
Land Assessment
$40,000
Improvements Assessment
$211,409
Total Assessment
$251,409
Annual Taxes
$60,808 ($2.38/SF)
Tax Year
2025
  • Listing ID: 39256021

  • Date on Market: 1/29/2026

  • Last Updated:

  • Address: 4535 22nd Pl, Lubbock, TX 79407

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