Five-Unit Apartment
For Sale
$446,000
Package Property 3, Lubbock, TX 79415
MULTI_FAMILY - Other - Lubbock, TX
Property Size5,443 SF
Lot Size0.82 Acres
Price / SF$81.94
Days on Market547
Property Features for Package Property 3
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
15
Bathrooms
8
Full bathrooms
5
Half bathrooms
5
Rooms
Bathroom 10, Bedroom 2, Bedroom 6, Bathroom 3, Bedroom 4, Bedroom 15, Bedroom 14, Bedroom 11, Bedroom 5, Bedroom 8, Bathroom 5, Bedroom 12, Bathroom 6, Bathroom 7, Bedroom 10, Bedroom 1, Bathroom 4, Bathroom 9, Bedroom 7, Bedroom 13, Bathroom 2, Bathroom 8, Bedroom 3, Bedroom 9, Bathroom 1
Parking
2
Parking features
Carport
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
1
Standard status
Active
APN
R77785, R29059, R89652, R31717, R38567
Size
5,443 SF
Lot size
0.82 Acres
Taxes and HOA fees
Tax Description
MADDOX BLK 4 L 19 & 20 WOOD E M BLK 1 L 12 SCALES BLK 1A W45'OF L 4 & E10'OF 5 ELLISTON C D BLK 1 L 13 NELSON HTS BLK 5
Tax Annual Amount
7087
Legal Description
MADDOX BLK 4 L 19 & 20 WOOD E M BLK 1 L 12 SCALES BLK 1A W45'OF L 4 & E10'OF 5 ELLISTON C D BLK 1 L 13 NELSON HTS BLK 5
Utilities
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Building Details
Year built
2012
Building materials
Vinyl Siding
Roof type
Composition
Architectural style
Other
Listing Agency:
Brick & Loft Realty
(806) 999-0722
Listed By:
Collen Melton · License #0774198
(806) 999-5353
Added: Feb 24, 2025
Changed: Aug 14
Last Checked: Aug 25 at 5:06PM
MLS# 202550908
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.
This five-unit apartment building was built in 2012 and sits on a 0.82-acre lot. The exterior features vinyl siding, with a composition roof. The property is heated with central heating and cooled with central air and ceiling fans. Carport parking is available for residents.
Current occupancy reflects that three of the five units are rented. The pro-forma cap rate is based on 100% occupancy, providing a forward-looking basis for underwriting.
With central HVAC, covered carport parking, and a construction profile that includes vinyl siding and a composition roof, the property offers a straightforward multifamily setup for ongoing operations and leasing.
Current occupancy reflects that three of the five units are rented. The pro-forma cap rate is based on 100% occupancy, providing a forward-looking basis for underwriting.
With central HVAC, covered carport parking, and a construction profile that includes vinyl siding and a composition roof, the property offers a straightforward multifamily setup for ongoing operations and leasing.
Key Highlights
- 2012 construction on a 0.82‑acre lot
- 3 of 5 units are currently rented
- Pro‑forma cap rate based on 100% occupancy
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
60%
Occupancy
Location Intelligence
Trade Area within ½ mile
197
Businesses Nearby
Explore this area
Business Placement
Demographics for 79415, TX
17,499
Population
7,225
Households
2.4
Avg Household Size
30
Median Age
26%
College-Educated
77%
High-School Grad
67.8 sq mi
ZIP Area
258
Density / Sq Mi
$37,101
Median Household Income
$25,506
Median Earnings
$956
Median Rent
$94,000
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 - Three of the five units are rented, with a pro-forma cap rate based on 100% occupancy.
Where is this apartment building located?
The property is located at Package Property 3 Lubbock, TX.
What is the asking price?
The asking price for this property is $446,000.
What are key features of this property?
This property features: 2012 construction on a 0.82‑acre lot; 3 of 5 units are currently rented; Pro‑forma cap rate based on 100% occupancy
