Historic Multifamily Property Near Texas
2323 20th Street, Lubbock, TX 79411
- Added:
- Mar 18, 2025
- Days on Market:
- 450
- Last Refresh:
- Jun 10 at 3:06 am
Property Features for 2323 20th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bedroom 3, Bedroom 5, Basement, Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 6
- Parking features
- Garage, Driveway
- Patio and Porch features
- Porch
- Interior features
- Bookcases, Built-in Features, Cedar Closet(s), Ceiling Fan(s), Crown Molding, His and Hers Closets, Storage, Walk-In Closet(s)
- Exterior features
- Fire Pit, Private Yard, Rain Gutters
- Fireplace
- 1
- Basement
- Concrete
- Standard status
- Pending
- APN
- R115535
- Size
- 2,832 SF
- Lot size
- 0.32 Acres
Taxes and HOA fees
- Tax Description
- McCrummen 2nd Blk 51 L 11 & 12
- Tax Annual Amount
- 666
Utilities
- Heating system
- Natural Gas, Fireplace(s)
- Cooling system
- Central Air, Ceiling Fan(s)
Building Details
- Year built
- 1939
- Number of units
- 2
- Flooring type
- Linoleum, Tile, Hardwood, Carpet, Parquet Wood
- Building materials
- Brick
- Roof type
- Composition
- Additional Structures
- Storage
Listing agent Rex Andrews License #0663823 (806) 777-6556
Listing office Keller Williams Realty 10210 Quaker Ave, Lubbock, TX (806) 771-7710
Listing date Mar 18, 2025
MLS# 202551905
Listing URL
Copyright © 2026 Lubbock Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- 6‑bedroom, 3‑bath home built in 1939 with additional construction noted through 1944
- Includes a detached 1‑bedroom, 1‑bath apartment next to the 2‑car garage
- Main house offers 4 bedrooms and 2 bathrooms; basement includes 2 egress windows and a secure locker
- Porch access from the main bedroom and side‑porch access from another bedroom; kitchen opens to the porch
- Brick construction with composition roof; central air and natural gas heating, plus fireplaces
- Outdoor living on lots 10, 11 & 12 with 3 ponds, a cascading waterfall, a wooden bridge, and an outdoor cooking area
Overview
Located one block from Texas Tech University, this property features a six-bedroom, three-bathroom layout, blending historic elegance with modern convenience. Constructed between 1939 and 1944, the property incorporates wood and paneling from Blackwood Forest in Germany. The main house includes four bedrooms and two bathrooms. The basement offers a versatile space with two egress windows and a secure locker, adaptable as a fifth bedroom. The main bedroom provides porch access, while another bedroom features side porch access. The modern kitchen also opens to the porch. A breezeway connects the main structure to a two-car garage. Adjacent to the garage is a one-bedroom, one-bathroom apartment. The property spans lots 10, 11, and 12, offering outdoor living opportunities. The backyard features three ponds, including a smaller pond with a cascading waterfall that empties into a larger pond. A wooden bridge spans the larger pond, providing access to an outdoor cooking area. The property represents a potential investment opportunity, possibly integrated into an 8 rentable door package. Its location near Texas Tech University positions it to attract families, professionals, and investors looking to capitalize on the rental market. The property size is 2832 square feet and the lot size is 0.32 acres.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.1k | $13.80 |
| − Vacancy | −$2.5k | −$0.90 |
| EGI | $36.5k | $12.90 |
| − OpEx | −$11.0k | −$3.87 |
| NOI | $25.6k | $9.03 |
2,832 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$365.4K
$319.7K – $426.3K
NOI $25,579 @ 7.0% cap · market cap 7.68%
Second Best
Apartment 5plus
$328.1K
$287.1K – $382.8K
NOI $22,967 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$714.0K
$624.7K – $833.0K
NOI $49,977 @ 7.0% cap · market cap 15.01%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Single family properties
Location Insight
- Map
- Local Demand
- City
- Lubbock
- County
- Lubbock
- State
- Texas
- Longitude
- -101.867068
- Latitude
- 33.576571
Nearby Similar for Sale
FAQs
What type of property is this?
Single family property - Six-bedroom property near Texas Tech, featuring unique historic details.
Where is this single family property located?
The property is located at 2323 20th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $333,000.
What are key features of this property?
This property features: 6‑bedroom, 3‑bath home built in 1939 with additional construction noted through 1944; Includes a detached 1‑bedroom, 1‑bath apartment next to the 2‑car garage; Main house offers 4 bedrooms and 2 bathrooms; basement includes 2 egress windows and a secure locker
