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2715 E 2nd St

3 Unit Apartment Building $420,000 ($140,000/Unit) Lubbock, TX 79403

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Investment Highlights

3 Duplexes 6 Units
Updated Exterior & Interior Paint
Improved Kitchen and Bath Countertops

3 Bed 2 Bath 1 car carport
Updated Vinyl Flooring

Executive Summary

3 Duplexes Available in Lubbock at 2715 E 2nd St; 1728 E Dartmouth Ave & 1730 E Dartmouth Ave
Seller Finance available for 3 cash flowing Properties. March 2024 Appraisal Value of $504,000. Rental income potential of $4800 per month.
Each Duplex is a 3-2 with carport parking. Updated flooring and Paint. Property professionally managed by local property management company. Opportunity to own 6 cash flow units with Seller Financing with 25% Down Payment

Financial Summary (Pro forma - 2024)	Annual	Annual Per SF
Gross Rental Income	$57,600	$9.14
Other Income	$500	$0.08
Vacancy Loss	$2,800	$0.44
Effective Gross Income	$55,300	$8.78
Taxes	$5,937	$0.94
Operating Expenses	$13,800	$2.19
Total Expenses	$19,737	$3.13
Net Operating Income	$35,563	$5.64

Financial Summary (Pro forma - 2024)

Gross Rental Income
Annual	$57,600
Annual Per SF	$9.14

Other Income
Annual	$500
Annual Per SF	$0.08

Vacancy Loss
Annual	$2,800
Annual Per SF	$0.44

Effective Gross Income
Annual	$55,300
Annual Per SF	$8.78

Taxes
Annual	$5,937
Annual Per SF	$0.94

Operating Expenses
Annual	$13,800
Annual Per SF	$2.19

Total Expenses
Annual	$19,737
Annual Per SF	$3.13

Net Operating Income
Annual	$35,563
Annual Per SF	$5.64

Property Facts

Price	$420,000	Apartment Style	Garden
Price Per Unit	$140,000	Lot Size	0.18 AC
Sale Type	Investment	Building Size	6,300 SF
No. Units	3	No. Stories	1
Property Type	Multifamily	Year Built	1966
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$420,000
Price Per Unit	$140,000
Sale Type	Investment
No. Units	3
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Garden
Lot Size	0.18 AC
Building Size	6,300 SF
No. Stories	1
Year Built	1966
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.