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Location, Location, Location: Being situated in the TTU and the Medical District places these properties in a high-demand rental market. Proximity to Texas Tech University and the medical facilities ensures a consistent pool of potential tenants or property can be sold separately perfect for first-time buyers looking for a place to call home with instant monthly income ($925) from (2) rear apartment rentals. Main house 1423 SF Rear Apartment - 432 SF Upper Rear Apartment - 432 SF. Fully Leased: Immediate cash flow is a major plus. No need to worry about vacancies and lease-up periods. The properties are already generating income from day one. Well-Maintained and Updated: Classic Charm: Original hardwood flooring, adding warmth and character; updated aesthetic and manageable size. The property(s) are in good condition, potentially reducing future maintenance costs and attracting higher-quality tenants. Discounted Price: The 2.5% discount for a portfolio purchase of all 7 properties (2312 15th Street, 3815 25th Street, 4117 33rd Street, 2708 24th Street, 2207 23nd Street, 1924 21st Street, and 4118 30th Street sold individually at $1,479,500.00) represents a substantial saving, effectively lowering the overall investment cost. Let's delve a little deeper into the numbers: Gross Potential Rent: The current monthly lease revenue of $12,355 translates to an annual potential rent of $148,260. Discounted Purchase Price: Taking advantage of the 2.5% ($37K) discount reduces the total package price $1,439,500.00. Bring Offers! Potential Return: While we don't have all the expense information, these figures allow you to calculate a preliminary gross rental yield, which can help assess the potential return on investment.
| DAYS ON MARKET | 69 | LAST UPDATED | 3/11/2025 |
|---|---|---|---|
| YEAR BUILT | 1931 | COMMUNITY | 1 |
| COUNTY | Lubbock | STATUS | Active |
| PROPERTY TYPE(S) | Single Family |
| Elementary School | Ramirez Charter School |
|---|---|
| Jr. High School | Hutchinson |
| High School | Lubbock |
| PRICE HISTORY | |
| Prior to Mar 11, '25 | $274,500 |
|---|---|
| Mar 11, '25 - Today | $269,500 |
| ADDITIONAL DETAILS | |
| AIR | Ceiling Fan(s), Central Air, Electric |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Electric Oven, Electric Range |
| AREA | 1 |
| CONSTRUCTION | Brick |
| EXTERIOR | Other |
| HEAT | Central, Natural Gas |
| INTERIOR | Ceiling Fan(s) |
| LOT | 6534 sq ft |
| PARKING | None |
| STYLE | Traditional |
| TAXES | 2630 |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listed with Keller Williams Realty
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This IDX solution is (c) Diverse Solutions 2025.
