1610 45th St
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1610 45th St
13 Unit Block of Flats £694,203 (£53,400/Unit) 8% Net Initial Yield Lubbock, TX 79412
Investment Highlights
- Working class all bills paid property
- recent remodel with energy efficient products
Executive Summary
13 Unit updated apartment in Lubbock, TX. Close proximity to Texas Tech University. All units have been updated within the last two years with all new double paned windows, new heating and cooling systems, fresh paint, new led lighting, new low flow fixtures, and new appliances. This property has an on site laundry facility that is managed by a third party, it has a quiet courtyard and off street parking. When leasing we offer an allocated utilities option and and all bills paid option. All tenants take the all bills paid option.
Data Room Click Here to Access
- Operating and Financials
Financial Summary (Pro forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£105,895
|
£13.86
|
| Other Income |
£784
|
£0.10
|
| Vacancy Loss |
£17,003
|
£2.23
|
| Effective Gross Income |
£89,677
|
£11.74
|
| Taxes |
£6,686
|
£0.88
|
| Operating Expenses |
£27,454
|
£3.59
|
| Total Expenses |
£34,140
|
£4.47
|
| Net Operating Income |
£55,537
|
£7.27
|
Financial Summary (Pro forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | £105,895 |
| Annual Per SF | £13.86 |
| Other Income | |
|---|---|
| Annual | £784 |
| Annual Per SF | £0.10 |
| Vacancy Loss | |
|---|---|
| Annual | £17,003 |
| Annual Per SF | £2.23 |
| Effective Gross Income | |
|---|---|
| Annual | £89,677 |
| Annual Per SF | £11.74 |
| Taxes | |
|---|---|
| Annual | £6,686 |
| Annual Per SF | £0.88 |
| Operating Expenses | |
|---|---|
| Annual | £27,454 |
| Annual Per SF | £3.59 |
| Total Expenses | |
|---|---|
| Annual | £34,140 |
| Annual Per SF | £4.47 |
| Net Operating Income | |
|---|---|
| Annual | £55,537 |
| Annual Per SF | £7.27 |
Property Facts
| Price | £694,203 | Apartment Style | Low Rise |
| Price Per Unit | £53,400 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.47 AC |
| Net Initial Yield | 8% | Building Size | 7,638 SF |
| No. Units | 13 | Number of Floors | 1 |
| Property Type | Residential | Year Built/Renovated | 1961/2022 |
| Property Subtype | Apartment |
| Price | £694,203 |
| Price Per Unit | £53,400 |
| Sale Type | Investment |
| Net Initial Yield | 8% |
| No. Units | 13 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.47 AC |
| Building Size | 7,638 SF |
| Number of Floors | 1 |
| Year Built/Renovated | 1961/2022 |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 13 | £684.40 | 590 |
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PROPERTY TAXES
| Parcel Number | R104341 | Total Assessment | £359,699 (2024) |
| Land Assessment | £24,271 (2024) | Annual Taxes | £6,686 (£0.88/sf) |
| Improvements Assessment | £335,428 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
R104341
Land Assessment
£24,271 (2024)
Improvements Assessment
£335,428 (2024)
Total Assessment
£359,699 (2024)
Annual Taxes
£6,686 (£0.88/sf)
Tax Year
2025
-
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Reside Real Estate Co.
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1610 45th St
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