2815 43rd Street, Lubbock, TX 79413
2815 43rd Street, Lubbock, TX 79413
2815 43rd Street, Lubbock, TX 79413
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Doug Duncan

Doug Duncan

+1(806) 577-5595
$495,000
Est. payment /mo
14 Beds
7 Baths
7,654 SqFt
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UPDATED:

Key Details

Property Type Single Family Home

Sub Type Package Property

Listing Status Active

Purchase Type For Sale

Square Footage 7,654 sqft

Price per Sqft $64

MLS Listing ID 202615203

Style Ranch

Bedrooms 14

Full Baths 7

HOA Y/N No

Year Built 1958

Annual Tax Amount $10,294

Lot Size 0.530 Acres

Acres 0.53

Property Sub-Type Package Property

Source Lubbock Association of REALTORS®

Property Description

Investment opportunity in an established Lubbock neighborhood: two rental buildings totaling 7,654 SF with seven identical two-bedroom, one-bath units. Six units are occupied and the seventh is move-in ready with an approved applicant set for a November 13 move-in. Current collections of $4,855 per month ($58,260 per year), with pro-forma collections of $5,655 per month ($67,860 per year) at full occupancy. Tenants pay electricity and gas directly. Water is on shared meters per building, owner-paid, with partial recovery through $50 monthly water charges on the newer leases. Professionally managed by Location Rentals, with stable tenancies including one household in place since 2019. Gross rent multiplier of 8.5 on current collections (7.3 pro-forma). A straightforward cash-flow and value-add play close to Texas Tech and major employers.

Location

State TX

County Lubbock

Area 3

Rooms

Basement Basement

Interior

Heating Central, Natural Gas

Cooling Central Air, Electric

Flooring Luxury Vinyl

Fireplace No

Appliance Electric Cooktop, Electric Oven, Microwave, Refrigerator

Exterior

Parking Features Off Street, On Street, Paved, Common

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Roof Type Composition

Porch Covered, Front Porch

Garage No

Private Pool No

Building

Lot Description Cul-De-Sac

Foundation Slab

Sewer Public Sewer

Water Public

Architectural Style Ranch

New Construction No

Schools

Elementary Schools Wheelock

Middle Schools Atkins

High Schools Monterey

Others

Tax ID R100202

Acceptable Financing 1031 Exchange, Cash, Conventional, Will Divide

Listing Terms 1031 Exchange, Cash, Conventional, Will Divide

Special Listing Condition Standard

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Listed by Real Broker, LLC

Nearby Locations

Doug Duncan
Doug Duncan

Agent License ID: 0563978

+1(806) 577-5595 | doug@duncanrealtygroup.com

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