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8-Unit Multifamily Investment Opportunity Excellent value-add multifamily opportunity featuring 8 apartment-style units, each offering 1 bedroom and 1 bathroom. This property provides strong cash-flow potential with room for increased rents and additional income opportunities. Current rents range from $500-$625 per month, while comparable units in the area are leasing for $700-$725 per month, creating an attractive upside for investors looking to improve revenue through modest rent adjustments and operational improvements. Each tenant pays their own electricity, helping reduce owner expenses. Water is currently paid by the property, but a water reimbursement or utility bill-back program could be implemented to further increase net operating income. With market rent adjustments and minor operational improvements, the property has the potential to generate approximately $75,000 in annual gross rental income. Property Highlights: 8 total units 1 bedroom / 1 bathroom units Current rents: $500-$625/month Market rents: $700-$725/month Tenants pay electricity Opportunity to bill back water expenses Value-add investment with income growth potential This is an excellent opportunity for investors seeking a stable multifamily asset with significant upside in rental income.
| DAYS ON MARKET | 1 | LAST UPDATED | 3/9/2026 |
|---|---|---|---|
| YEAR BUILT | 1972 | COMMUNITY | 2 |
| COUNTY | Lubbock | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| Elementary School | Bayless |
|---|---|
| Jr. High School | Atkins |
| High School | Monterey |
| ADDITIONAL DETAILS | |
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | 2 |
| CONSTRUCTION | Other |
| HEAT | Electric |
| LOT | 0.27 acre(s) |
| LOT DIMENSIONS | 0.27 |
| PARKING | Parking Lot, Shared Driveway |
| SEWER | Public Sewer |
| STORIES | 2 |
| TAXES | 5409 |
| UTILITIES | Electricity Connected, Sewer Connected, Water Connected |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listed with Southern Magnolia Real Estate
Listing information is deemed reliable, but not guaranteed.
This IDX solution is (c) Diverse Solutions 2026.
