Treehouse Apartments

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30719838
Property Subtypes: Low-Rise/Garden
Status: Pending
Number of Units: 19 Units
Building Size (RSF): 13,080 SF
Gross Building Area: See Agent
Sale Price: $900,000
Unit Price: $47,368.42 Per Unit
Property Use Type: Investment
Sale Terms: Other
Cap Rate: Undisclosed
Last Updated: 4/6/2021

Overview / Comments

The Treehouse Apartments are 19 Units located only 5 minutes from Texas Tech University. This property is currently recovering from low collections due to COVID. The property itself has room for improvement through a change in the tenant profile. 16th street is prime for student opportunities. With increased unit renovations, the profile of the property will shift from workforce to student housing. South Overton is a prime location for added student rentals.

• Treehouse would benefit from an updated paint job on interiors as well as exteriors.
• Refreshing the look and repositioning the property as a student rental to align with the nearby comps will increase collections.

Additional Details

Nearest MSA: Lubbock
County: Lubbock
Tax ID/APN: R39521
Total Number of Buildings: 1
Year Built: 1974

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 21,689 93,573 195,919
Median Age: 25.43 29.63 32.05
Households: 6,953 33,920 75,007

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