Residential Income
1908 15th St Lubbock, TX 79401
New
For Sale
$349,000
Residential income property offered for sale in Lubbock, Texas.
Property Size3,461 SF
Price / SF$100.84
Days on Market4
Property Features for 1908 15th St
General Information
- Standard status
- Active
- Size
- 3,461 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 2011
Listing Agency:
The 32:18 Management Group
(806) 500-5599
Listed By:
Chris Carter · License #0817825
Source:
Raftercrossrealty
Added: Jul 21
Changed: Jul 22
Last Checked: Jul 23 at 5:17AM
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 The 32:18 Management Group
Investment Insights
Based on property information with market context.
This residential income property is offered for sale in Lubbock, Texas. The listing is categorized as a multifamily property/other multifamily property within residential income classifications.
The property is located at 1908 15th St in Lubbock, TX 79401. Further details on unit mix, condition, and specific improvements are not provided in the available information.
The property is located at 1908 15th St in Lubbock, TX 79401. Further details on unit mix, condition, and specific improvements are not provided in the available information.
Key Highlights
- Residential income property for sale in Lubbock, Texas
- Built in 2011
Financial Insights For Apartment 5plus
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 | $54.4k | $15.72 |
| − Vacancy | −$3.4k | −$0.97 |
| EGI | $51.0k | $14.75 |
| − OpEx | −$23.0k | −$6.64 |
| NOI | $28.1k | $8.11 |
3,461 SF · lease $15.72/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$401.0K
$350.9K – $467.8K
NOI $28,069 @ 7.0% cap · market cap 8.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$872.5K
$763.5K – $1.02M
NOI $61,077 @ 7.0% cap · market cap 17.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Multifamily properties
FAQs
What type of property is this?
Multifamily property - Residential income property offered for sale in Lubbock, Texas.
Where is this multifamily property located?
The property is located at 1908 15th St Lubbock, TX.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Residential income property for sale in Lubbock, Texas; Built in 2011
