Apartment Building with
For Sale
$460,000
Package Property 2, Lubbock, TX 79412
MULTI_FAMILY - Lubbock, TX
Property Size5,340 SF
Lot Size0.73 Acres
Price / SF$86.14
Days on Market555
Property Features for Package Property 2
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
15
Bathrooms
8
Full bathrooms
5
Half bathrooms
5
Rooms
Bedroom 13, Bathroom 6, Bedroom 2, Bedroom 10, Bedroom 11, Bedroom 6, Bedroom 7, Bathroom 10, Bedroom 1, Bathroom 2, Bedroom 12, Bedroom 8, Bedroom 9, Bathroom 1, Bathroom 7, Bedroom 14, Bedroom 4, Bathroom 8, Bathroom 9, Bathroom 5, Bedroom 5, Bedroom 15, Bathroom 4, Bedroom 3, Bathroom 3
Parking
2
Parking features
Carport
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
2
Standard status
Active
APN
R313644
Size
5,340 SF
Lot size
0.73 Acres
Taxes and HOA fees
Tax Description
Southport Blk 1 L 5A SOUTHPORT BLK 1 L 5B SOUTHPORT BLK 1 L 6A SOUTHPORT BLK 1 L 7A SOUTHPORT BLK 1 L 8A
Tax Annual Amount
8149
Legal Description
Southport Blk 1 L 5A SOUTHPORT BLK 1 L 5B SOUTHPORT BLK 1 L 6A SOUTHPORT BLK 1 L 7A SOUTHPORT BLK 1 L 8A
Utilities
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Building Details
Year built
2006
Building materials
Vinyl Siding
Roof type
Composition
Listing Agency:
Brick & Loft Realty
(806) 999-0722
Listed By:
Collen Melton · License #0774198
(806) 999-5353
Added: Feb 23, 2025
Changed: Aug 14
Last Checked: Sep 1 at 11:06AM
MLS# 202550866
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.
Investment Insights
Based on property information with market context.
Apartment building built in 2006 featuring vinyl siding, a composition roof, and central heating with central air plus ceiling fans. Carport parking is provided on-site.
The property includes five units, with three currently rented. Pro-forma cap rate at 100% occupancy is 8.25%, based on the provided remarks. Total site size is 0.73 acres, and the property size is listed at 5,340 square feet.
With the existing unit mix and established systems, the building supports straightforward multifamily operations for a buyer seeking a small-scale rental asset.
The property includes five units, with three currently rented. Pro-forma cap rate at 100% occupancy is 8.25%, based on the provided remarks. Total site size is 0.73 acres, and the property size is listed at 5,340 square feet.
With the existing unit mix and established systems, the building supports straightforward multifamily operations for a buyer seeking a small-scale rental asset.
Key Highlights
- Five‑unit apartment building with three units currently rented
- Pro‑forma cap rate at 100% occupancy is 8.25%
- 0.73‑acre site with 5,340 SF building
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
60%
Occupancy
Location Intelligence
Trade Area within ½ mile
548
Businesses Nearby
Explore this area
Business Placement
Demographics for 79412, TX
14,834
Population
6,480
Households
2.3
Avg Household Size
34
Median Age
15%
College-Educated
77%
High-School Grad
3.2 sq mi
ZIP Area
4,636
Density / Sq Mi
$47,306
Median Household Income
$29,233
Median Earnings
$964
Median Rent
$117,200
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 - Apartment building on 0.73 acres with central HVAC, carport parking, and three of five units currently rented.
Where is this apartment building located?
The property is located at Package Property 2 Lubbock, TX.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Five‑unit apartment building with three units currently rented; Pro‑forma cap rate at 100% occupancy is 8.25%; 0.73‑acre site with 5,340 SF building
