Native Park 29 Units Seller Finance | 1303 65th Dr
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Native Park 29 Units Seller Finance 1303 65th Dr
29 Unit Apartment Building $1,650,000 ($56,897/Unit) 8.09% Cap Rate Lubbock, TX 79412
Investment Highlights
- Seller Financing 30 Year 7.95% with 20% Down
- $400,000++ In Capital Expenditures improvements
- Rehabbed and Updated Units 2022-2023
Executive Summary
Rehabbed and updated 29 Unit with Seller Financing available. These 29 units were rehabbed in 2022-2023 with $400,000++ in Cap Ex.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$238,260
|
$8.06
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$35,700
|
$1.21
|
| Effective Gross Income |
$202,560
|
$6.85
|
| Taxes |
$17,538
|
$0.59
|
| Operating Expenses |
$51,626
|
$1.75
|
| Total Expenses |
$69,164
|
$2.34
|
| Net Operating Income |
$133,396
|
$4.51
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $238,260 |
| Annual Per SF | $8.06 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $35,700 |
| Annual Per SF | $1.21 |
| Effective Gross Income | |
|---|---|
| Annual | $202,560 |
| Annual Per SF | $6.85 |
| Taxes | |
|---|---|
| Annual | $17,538 |
| Annual Per SF | $0.59 |
| Operating Expenses | |
|---|---|
| Annual | $51,626 |
| Annual Per SF | $1.75 |
| Total Expenses | |
|---|---|
| Annual | $69,164 |
| Annual Per SF | $2.34 |
| Net Operating Income | |
|---|---|
| Annual | $133,396 |
| Annual Per SF | $4.51 |
Property Facts
| Price | $1,650,000 | Apartment Style | Garden |
| Price Per Unit | $56,897 | Lot Size | 1.46 AC |
| Sale Type | Investment | Building Size | 29,574 SF |
| Cap Rate | 8.09% | Average Occupancy | 85% |
| Gross Rent Multiplier | 6.21 | No. Stories | 2 |
| No. Units | 29 | Year Built/Renovated | 1965/2023 |
| Property Type | Multifamily | Parking Ratio | 1.69/1,000 SF |
| Property Subtype | Apartment |
| Price | $1,650,000 |
| Price Per Unit | $56,897 |
| Sale Type | Investment |
| Cap Rate | 8.09% |
| Gross Rent Multiplier | 6.21 |
| No. Units | 29 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Lot Size | 1.46 AC |
| Building Size | 29,574 SF |
| Average Occupancy | 85% |
| No. Stories | 2 |
| Year Built/Renovated | 1965/2023 |
| Parking Ratio | 1.69/1,000 SF |
Site Amenities
- Courtyard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 20 | $725.00 | - |
| 1+1 | 9 | $595.00 | - |
1 of 1
PROPERTY TAXES
| Parcel Number | R132765 | Total Assessment | $865,000 |
| Land Assessment | $38,253 | Annual Taxes | $17,538 ($0.59/SF) |
| Improvements Assessment | $826,747 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
R132765
Land Assessment
$38,253
Improvements Assessment
$826,747
Total Assessment
$865,000
Annual Taxes
$17,538 ($0.59/SF)
Tax Year
2024
zoning
| Zoning Code | C4 |
| C4 |
-
Josh Allen -
Reside Real Estate Co.
1 of 14
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Native Park 29 Units Seller Finance | 1303 65th Dr
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.