*** ********* ***, ********, TX
26.09% return
SP:
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1446 Avenue R
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Property Description

32 units for sale in Texas! Only $17k PER DOOR!! 

1 hour from Lubbock. Great investment opportunity. Some rehab needed. $60k in equity after renovations. Property will generate a 26.09% RETURN ON INVESTMENT!! 

Property management and financing available!

Property Information

  • Listing statusActive
  • Property typeMulti Family (8 properties)
  • Total units32
  • Total bedrooms11
  • Total bathrooms31
  • Building size12947 sq. ft.
  • Lot size4.0 acres
  • Year built1940 - 1950
  • County******** County
  • Subdivision********** *********
  • ConstructionBrick, Frame, CBS
  • RoofShingle, Metal
  • Water sourceWell
  • Water disposalSeptic
  • HeatingGas Furnace, Central, Window Unit
  • CoolingWindow A/C, Central air

Property Financial Summary

  • Sale price $540,000
  • Estimated rehab 1 $160,000
  • Total investment $700,000
  • Type Proforma
  • After repair value $850,000
  • Potential profit $150,000
  • Gross income (annually) $232,800
  • Operating expenses (annually) $50,140
  • Net income (annually) $182,660
  • Gross return 33.26%
  • Gross income (monthly) $19,400
  • Operating expenses (monthly) $4,178
  • Net income (monthly) $15,222
  • Net return 26.09%

Property Income & Expenses

  • Income
  • *** ********* ***
  • 2 bed / 1 bath $750/month $9,000/year
  • 2 bed / 1 bath $750/month $9,000/year
  • 2 bed / 1 bath $600/month $7,200/year
  • studio / 0 bath $500/month $6,000/year
  • *** ********* ***, Commercial
  • Unit 1: studio / 1 bath $700/month $8,400/year
  • *** ********* ***, Duplex
  • Unit 1: 2 bed / 1 bath $600/month $7,200/year
  • Unit 2: 2 bed / 1 bath $600/month $7,200/year
  • *** ********* ***, Quad
  • Unit 1: studio / 1 bath $550/month $6,600/year
  • Unit 2: studio / 1 bath $550/month $6,600/year
  • Unit 3: studio / 1 bath $550/month $6,600/year
  • Unit 4: studio / 1 bath $550/month $6,600/year
  • *** ********* ***, Quad #1
  • Unit 1: studio / 1 bath $600/month $7,200/year
  • Unit 2: studio / 1 bath $600/month $7,200/year
  • Unit 3: studio / 1 bath $600/month $7,200/year
  • Unit 4: studio / 1 bath $600/month $7,200/year
  • *** ********* ***, Quad #2
  • Unit 1: studio / 1 bath $600/month $7,200/year
  • Unit 2: studio / 1 bath $600/month $7,200/year
  • Unit 3: studio / 1 bath $600/month $7,200/year
  • Unit 4: studio / 1 bath $600/month $7,200/year
  • *** ********* ***, Quad #3
  • Unit 1: studio / 1 bath $600/month $7,200/year
  • Unit 2: studio / 1 bath $600/month $7,200/year
  • Unit 3: studio / 1 bath $600/month $7,200/year
  • Unit 4: studio / 1 bath $600/month $7,200/year
  • *** ********* ***, Quad #4
  • Unit 1: studio / 1 bath $600/month $7,200/year
  • Unit 2: studio / 1 bath $600/month $7,200/year
  • Unit 3: studio / 1 bath $600/month $7,200/year
  • Unit 4: studio / 1 bath $600/month $7,200/year
  • *** ********* ***, Quad #5
  • Unit 1: studio / 1 bath $600/month $7,200/year
  • Unit 2: studio / 1 bath $600/month $7,200/year
  • Unit 3: studio / 1 bath $600/month $7,200/year
  • Unit 4: studio / 1 bath $600/month $7,200/year
  • *** ********* ***, Single Family
  • Unit 1: 1 bed / 1 bath $700/month $8,400/year
  • Total $19,400/month $232,800/year
  • Expenses
  • Property Taxes $321/month $3,857/year
  • Property Management $698/month $8,381/year
  • Waste Collection $189/month $2,262/year
  • Well $128/month $1,537/year
  • Electric bill $259/month $3,103/year
  • Maintenance reserve $2,000/month $24,000/year
  • Insurance (estimated) $583/month $7,000/year
  • Total $4,178/month $50,140/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

Q: Why is the property address and location information hidden?
A: This property is a premium property and is completely off-market. Full access is available to premium clients only. If you are not a premium client, we require to have an executed non-disclosure agreement on file in order to share the property details with you.

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