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2309 34th Street

Lubbock, TX 79411
  • $450,000
  • STATUS: Active
  • ON SITE: 61 Days
  • MLS #: 202109953
$450,000
  • 9
    BEDS
  • 0.17
    ACRES
  • 7
    BATHS
  • 0
    1/2 BATHS
  • 3,296
    SQFT
  • $137
    $/SQFT
Neighborhood:
204
Type:
Multi-Family
Built:
1949
County:
Area:
2

School Information

Elementary School:
Middle School:
High School:
School District:

Description

The opportunity to increase net income on this property is by allocating utilities back to the tenants. The water, trash, sewer, and gas is master metered. The new owner could reduce expenses by implementing RUBS program and allocating these expenses like some of the other properties in the area. The current owner also pays for electric on some units. It is separately metered and the new owner could lower expenses by having tenants pay their own electric bills. This complex is a good opportunity for an investor who's willing to make a few minor changes to the property operations in order to increase NOI.

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© 2021 Lubbock Association of REALTORS® MLS. Listing information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2021-11-30T23:58:55.2.
www.raftercrossrealty.com/homes/121931452
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2309 34th Street Lubbock, TX 79411

  • Price: $450,000
  • Status: Active
  • On Site: 61 Days
  • MLS #: 202109953
9
Beds
7
Baths
0
½ Baths
0.17
Acres
3,296
SQFT
$137
$/SQFT
1949
Built
Neighborhood:
204
County:
Lubbock
Area:
2
Elementary School:
Brown
Middle School:
Slaton
High School:
Monterey
School District:
Lubbock Isd
Property Description
The opportunity to increase net income on this property is by allocating utilities back to the tenants. The water, trash, sewer, and gas is master metered. The new owner could reduce expenses by implementing RUBS program and allocating these expenses like some of the other properties in the area. The current owner also pays for electric on some units. It is separately metered and the new owner could lower expenses by having tenants pay their own electric bills. This complex is a good opportunity for an investor who's willing to make a few minor changes to the property operations in order to increase NOI.
Exterior Features

Architectural Style 2 Story Carport Spaces 0 Exterior Other Foundation Details Slab Parking Off Street Roof Composition Streets 2 Way AccessPaved Total Garage Spaces 0

Interior Features

Building Area Total 3296 Cooling Window/Refrigerated Heating Other Unit1 Bathrooms 0 Unit1 Bedrooms 0 Unit1 Features Ceiling Fan(S) Unit1 Sq Ft 0 Unit2 Bathrooms 0 Unit2 Bedrooms 0 Unit2 Features Ceiling Fan(S) Unit2 Sq Ft 0 Unit3 Bathrooms 0 Unit3 Bedrooms 0 Unit3 Features Ceiling Fan(S) Unit3 Sq Ft 0 Unit4 Bathrooms 0 Unit4 Bedrooms 0 Unit4 Features Ceiling Fan(S) Unit4 Sq Ft 0

Property Features

Association Fee 0 Association YN No Energy Features None Gross Income 0 Lot Size Source (Tax Data) Property Sub Type Garden/Low-Rise Proposed Financing CashConventional Tax Annual Amount 0 Tenant Pays Other Termsof Tenancy 1 Year Lease Unit1 Income 0 Unit1 Occupied Yes Unit2 Income 0 Unit2 Occupied Yes Unit3 Income 0 Unit3 Occupied Yes Unit4 Income 0

Listing provided courtesy of Gregory Brownd of Keller Williams Realty. Listing information © 2021 Lubbock Association of REALTORS® MLS.


© 2021 Lubbock Association of REALTORS® MLS. Listing information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2021-11-30T23:58:55.2.
 
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Rafter Cross Realty
822 South Main Street, P.O. Box 8
Lovington NM, 88260