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



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.
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.
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
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 |
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Property Taxes
| Parcel Number | R325857 | Total Assessment | $251,409 |
| Land Assessment | $40,000 | Annual Taxes | $60,808 ($2.38/SF) |
| Improvements Assessment | $211,409 | Tax Year | 2025 |
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
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4535 22nd Pl - 4509-4535 22nd Pl
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