2306 Fir Avenue Lubbock, TX 79404

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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%