For Sale
Call for price

1510 9Th StSlaton, TX 79364

28-unit apartment building, excellent ROI.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional multifamily investment opportunity presents a 28-unit apartment building located at 1510 S 9th St, Slaton, TX 79364, in Lubbock County. The property, known as Southern Cross, comprises eight single-story buildings totaling 17,939 square feet of net rentable space. Built in 1770, the complex features a mix of unit sizes: 15 one-bedroom units and 13 two-bedroom units. Each unit includes convenient washer/dryer connections and a covered front porch. The property boasts pitched metal roofs, offering durability and low maintenance. Southern Cross provides affordable housing options, strategically positioned near Lubbock, Texas. Current rents are significantly below market rates, with one-bedroom units priced $118 under market and two-bedroom units $156 under market. This presents a substantial opportunity to increase net operating income (NOI) by gradually adjusting rents closer to market value and continuing to recoup utility costs. The asking price is less than $36,000 per unit, making this a compelling investment prospect with strong potential for future growth and profitability.

Highlights

  • 28-unit apartment building in Slaton, TX.
  • 17,939 square feet of net rentable space.
  • Eight single-story buildings built in 1770.
  • Rents are significantly below market rate, offering potential for NOI growth.
  • Broker co-op available.

Property Details for 1510 9Th St

Property type
Apartment buildings
Square Feet
17,939 SF
Year Built
1770
Buildings
8
Stories
1
Units
28

Location Insight

City
Slaton
County
Lubbock
State
Texas
Latitude
33.42440147039
Longitude
-101.64284966625
1510 9Th St, Slaton, Texas

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1510 9Th St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message