2306 Fir Avenue Lubbock, TX 79404
For sale 2306 Fir Avenue, Lubbock, TX 79404 - 14-unit apartment complex We are thrilled to present a new investment opportunity in Lubbock's Wheelock neighborhood. This remodeled 14-unit apartment is an upgraded property featuring new plumbing, HVACs, electrical wiring, kitchenettes, appliances, bathrooms, new roof, etc. Each unit features new laminate flooring, fresh paint, new kitchenettes, new light fixtures, and more that tenants love! Low long-term maintenance, as the Seller has upgraded just about everything. Property has a gated entryway (locked), security cameras, and an on-site laundry facility. As of today, 10 of the 14 units are occupied and cash-flowing, offering a Buyer to go in and lease up the vacant units. Asking Price: $782, 215 ($55, 872/unit) Current NOI (est.): $51, 105; Pro-Forma NOI: $70, 374 Actual CAP Rate: 6.5%; Pro-Forma CAP Rate: 9.0%
- Property TypeMulti-Family
- Neighborhood211
- CountyLubbock
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site35 Days
- MLS StatusActive
- MLS ID Number202406709
- Home Size Source N/A
- Year Built1963
- Lot Size0.4152 Acres
- Full Baths9
- Partial BathsN/A
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General Features
- Available on 1800-01-01
- Acreage 0.4152
- Garage Spaces 0
- Foundation Slab
Interior Features
- Cooling Window/ Refrigerated
- Heating Central Electric
Community Features
- Association Dues 0
- MLS Area 2