6139 39Th StLubbock, TX 79407

Property Details for 6139 39Th St

Year built

1997

Property size (Sq ft)

3,729 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a portfolio of three single-family rental homes located in West Lubbock, Texas. Each unit is a three-bedroom, two-bathroom, two-car garage residence featuring full kitchens, isolated master bathrooms, and sizable backyards. Currently boasting 100% occupancy, the portfolio generates a strong net operating income (NOI) of $40,104, representing an 8.5% capitalization rate. A pro-forma NOI of $44,128 projects a 9.21% capitalization rate, highlighting significant value-add potential through cosmetic upgrades. The total square footage across all three properties is 3,729 square feet, priced at $128.45 per square foot. The asking price for the entire portfolio is $479,000, or $159,667 per unit. Built in 1997, these fee-simple properties are professionally managed, with tenants subject to rigorous screening criteria including a minimum 3x rent-to-income ratio and a history of responsible tenancy. Most leases are annual and auto-renewing, ensuring consistent cash flow. This portfolio offers immediate returns and substantial upside potential, making it an attractive investment for both seasoned and emerging investors. The properties are located at 6139 39th St, 6103 39th St, and 6109 35th St, Lubbock, TX 79407.

Location Insight

City

Lubbock

County

Lubbock

State

Texas

Latitude

33.5586

Longitude

-101.951

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