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    6139 39Th St Lubbock, TX 79407

    Sponsored
    For Sale
    $479,000

    Three-unit, 100% occupied, high-yield investment.

    Property size:
    3,729 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a portfolio of three single-family rental homes located in West Lubbock, Texas. Each unit is a three-bedroom, two-bathroom, two-car garage residence featuring full kitchens, isolated master bathrooms, and sizable backyards. Currently boasting 100% occupancy, the portfolio generates a strong net operating income (NOI) of $40,104, representing an 8.5% capitalization rate. A pro-forma NOI of $44,128 projects a 9.21% capitalization rate, highlighting significant value-add potential through cosmetic upgrades. The total square footage across all three properties is 3,729 square feet, priced at $128.45 per square foot. The asking price for the entire portfolio is $479,000, or $159,667 per unit. Built in 1997, these fee-simple properties are professionally managed, with tenants subject to rigorous screening criteria including a minimum 3x rent-to-income ratio and a history of responsible tenancy. Most leases are annual and auto-renewing, ensuring consistent cash flow. This portfolio offers immediate returns and substantial upside potential, making it an attractive investment for both seasoned and emerging investors. The properties are located at 6139 39th St, 6103 39th St, and 6109 35th St, Lubbock, TX 79407.

    Property Features for 6139 39Th St

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,729 SF
    Class
    B

    Building Details

    Year Built
    1997
    Buildings
    3
    Stories
    1
    Units
    3

    HighLights

    • $479,000 asking price for a three‑unit single‑family rental portfolio in West Lubbock, Texas.
    • 8.5% current cap rate, projected to increase to 9.21% with pro‑forma improvements.
    • 100% occupancy with a current NOI of $40,104, projected to reach $44,128.
    • Three 3/2/2 single‑family homes totaling 3,729 square feet, built in 1997.
    • $159,667 per unit price, $128.45 per square foot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Daycare Center Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.9512495
    Latitude
    33.5585559

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    FAQs

    What type of property is this?
    Multifamily property - Three-unit, 100% occupied, high-yield investment.
    Where is this multifamily property located?
    The property is located at 6139 39Th St Lubbock, TX.
    What is the asking price?
    The asking price for this property is $479,000.
    What are key features of this property?
    This property features: $479,000 asking price for a three-unit single-family rental portfolio in West Lubbock, Texas.; 8.5% current cap rate, projected to increase to 9.21% with pro-forma improvements.; 100% occupancy with a current NOI of $40,104, projected to reach $44,128.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    6139 39Th St Lubbock, TX 79407
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