7303 Avenue X Lubbock, TX 79423
- Apartment buildings
Current Use by Public Records
- Apartment buildings
Property Details for 7303 Avenue X
- Year built
- 1984
- Property type
- Apartment buildings
Description
This exceptional 24-unit apartment building presents a compelling investment opportunity in Lubbock, Texas. Located just one block south of Loop 289 and one block east of Texas Tech University, this property enjoys a highly desirable location within a thriving community. Built in 1984, the two-story brick building offers a mix of one and three-bedroom units, totaling 4,329 square feet of net rentable space. Recent roof replacements demonstrate proactive property maintenance. One-bedroom units feature stackable washer/dryer units, while three-bedroom units offer connections. The property's strategic location provides easy access to major roadways, numerous retail options, and diverse dining establishments, all within walking distance for residents. Lubbock's robust economy, fueled by Texas Tech University, regional hospitals, and agriculture, ensures a strong rental market. Significant value-add potential exists through implementing common cost recovery strategies such as charging for utilities (water, sewer, trash), washer/dryer usage, and cable services, aligning with market practices. The unique offering of three-bedroom townhome-style units further enhances the property's appeal and marketability. Assumable financing is available, making this an attractive opportunity for investors seeking a strong return on investment with low capital expenditure potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lubbock
- County
- Lubbock
- State
- Texas
- Longitude
- -101.867
- Latitude
- 33.5274
