60-Unit Apartment Renovation
For Sale
Contact for pricing
Pending
1915 14th St Lubbock, Lubbock, TX 79401
Two renovated apartment properties totaling 60 units, with on-site laundry and separately metered electric throughout.
Days on Market111
Property Features for 1915 14th St Lubbock
General Information
Standard status
Pending
Property subtype
Multifamily
Additional Details
Cap Rate
8.5%
Multifamily Units
60
Amenities
on-site laundry
cookout areas
pergolas
central HVAC
Listing Agency:
Waller Group Homes
(214) 818-4109
Listed By:
Logan Waller · License #TX 0479147
Source:
Crexi
Added: Apr 11
Changed: Jul 22
Last Checked: Jul 29 at 5:25PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Waller Group Homes
Investment Insights
Based on property information with market context.
060 Lofts and 060 Court are a two-property 60-unit apartment package. Both properties have undergone major renovations in recent years, including exterior improvements such as artificial turf, cookout areas, pergolas, trim work, and paint, along with interior updates including appliance replacements, flooring, and paint. Approximately 15 HVAC units have been replaced at 060 Lofts. Property-wide utility and building systems features include electric separately metered, with water/sewer/trash allocated; on-site laundry is provided with leased machines. 060 Lofts uses shared hot water, central HVAC, has no gas, and features a flat roof. 060 Court features central boilers for hot water, an on-site laundry room with leased machines, gas allocated, PTACs with the exception of one unit, and a pitch composition roof.
The package is located less than one mile from Texas Tech University and is also described as less than one mile from downtown Lubbock. The Historic South Overton neighborhood setting includes nearby green space provided by M C Overton Park.
For investors and operators, the seller notes value-add focused on improving occupancy and upgrading on-site laundry to property-owned machines offering coin or card/credit options, alongside professional property management.
The package is located less than one mile from Texas Tech University and is also described as less than one mile from downtown Lubbock. The Historic South Overton neighborhood setting includes nearby green space provided by M C Overton Park.
For investors and operators, the seller notes value-add focused on improving occupancy and upgrading on-site laundry to property-owned machines offering coin or card/credit options, alongside professional property management.
Key Highlights
- Two‑property 60‑unit apartment package (O60 Lofts and O60 Court) less than 1 mile from Texas Tech University in Historic South Overton.
- Current NOI $70,140 with low occupancy; pro forma NOI $196,459 at 8.50% CAP assuming occupancy increases to 90%.
- Major renovations completed across both properties, including appliance replacements, new flooring, and paint throughout.
Property Analytics
Current Use
Lease Details
60
Residential units
Location Intelligence
Trade Area within ½ mile
1,557
Businesses Nearby
Explore this area
Business Placement
Demographics for 79401, TX
8,775
Population
4,813
Households
1.8
Avg Household Size
26
Median Age
26%
College-Educated
85%
High-School Grad
2.5 sq mi
ZIP Area
3,510
Density / Sq Mi
$27,255
Median Household Income
$20,570
Median Earnings
$1,048
Median Rent
$101,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two renovated apartment properties totaling 60 units, with on-site laundry and separately metered electric throughout.
Where is this apartment building located?
The property is located at 1915 14th St Lubbock Lubbock, TX.
What are key features of this property?
This property features: Two‑property 60‑unit apartment package (O60 Lofts and O60 Court) less than 1 mile from Texas Tech University in Historic South Overton.; Current NOI $70,140 with low occupancy; pro forma NOI $196,459 at 8.50% CAP assuming occupancy increases to 90%.; Major renovations completed across both properties, including appliance replacements, new flooring, and paint throughout.
