Updated over 11 years ago on . Most recent reply
Student housing: $1585 gross rents - 3/2 Lubbock, Texas near University and Medical District
For Sale: 3 bedroom, 2 bath, 1 car garage with attached 2 car carport. A little over 1700 SF. It's about 5 minutes from Texas Tech University and the Medical district in Lubbock, Texas. Less than one block away from a neighborhood of $350k-$400k homes. Currently rented to 3 Grad students. Each of the three has their own respective lease for their respective bedroom. Gross scheduled rents are $1585 per month. All bills paid ($400 cap on utilities). Tenants pay any utility overage. ARV is roughly $125k. This is not a distress sale although I will discount for some deferred maintenance.