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602 Belmont AveLubbock, TX 79416

114-unit multifamily portfolio, high occupancy.

Overview

Added:
Dec 11, 2024
Days on market:
117
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.

Highlights

  • Exceptional value-add multifamily investment opportunity in Lubbock, TX.
  • 57 duplexes (114 units) built 2003-2006 with 92% occupancy.
  • Three floor plans, 1200-1890 sq ft, all with appliances and private garages.
  • Prime location near Texas Tech, South Plains College, Lubbock Christian University, and retail.
  • Significant upside potential through rent increases and individual duplex sales.

Property Details for 602 Belmont Ave

Property type
Residential income homes
Square Feet
83,140 SF
Year Built
2003
Buildings
57
Stories
1
Units
114

Location Insight

City
Lubbock
County
Lubbock
State
Texas
Latitude
33.6071224
Longitude
-101.9280782
602 Belmont Ave, Lubbock, Texas

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602 Belmont Ave
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