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Property summary
This exceptional value-add multifamily investment comprises 57 duplexes totaling 114 units, situated in Lubbock, Texas, at 602 N Belmont Ave, 79416. Built between 2003 and 2006, this one-story townhome community boasts a 92% occupancy rate and offers significant upside potential. The property features three distinct floor plans ranging from 1200 to 1890 square feet, each unit equipped with ovens, refrigerators, dishwashers, and in-unit washer/dryer hookups. Private garages are included with each unit. The total square footage across all units is 83,140 square feet. Benefiting from its proximity to Texas Tech University, South Plains College, Lubbock Christian University, and nearby golf courses and retail developments, this portfolio presents a compelling opportunity for investors seeking immediate cash flow and long-term appreciation. The strategic location near major economic drivers and the potential for rent increases through interior upgrades further enhance its investment appeal. Consider the flexibility of individual duplex disposition as a potential strategy. This bulk portfolio pricing offers a unique advantage in the Lubbock market.
Property profile
VerifiedCap rate & NOI
Current use
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Apartment Complex Apartment Building
Location
Value estimations
Owner & transaction history
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Value estimation
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Cap rate
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Property description
Physical attributes from public recordsZoning & alternative use
Zoning
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No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
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