3402 Itasca StLubbock, TX 79415

Exceptional investment opportunity in Lubbock, Texas, presents a 25-unit single-family rental portfolio known as Tech Village North. This meticulously maintained property boasts 45,000 square feet of living space, constructed in 2017. Each of the 25 detached homes offers a spacious four-bedroom, two-bathroom floor plan, spanning 1,800 square feet, complete with a two-car garage and a private enclosed backyard. High-quality interior finishes include white cabinetry, granite countertops, ample pantry storage, black appliances, and vinyl plank flooring. Currently operating at 93% occupancy (as of March 1, 2024), the property generates substantial rental income, with projected average rents of $1,756 per unit, or $439 per bed per month. Strategically located approximately 1.5 miles from Texas Tech University and Jones AT&T Stadium, and within easy reach of public transportation, this property benefits from its proximity to the university and its vibrant entertainment district. The property's current all-bills-paid structure presents a significant opportunity for a new owner to increase net operating income (NOI) by shifting utility costs to tenants. This portfolio offers a rare chance to acquire a thriving asset in a growing market, well below replacement cost. The asking price is $4,250,000, representing an attractive price per unit of $170,000.