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 |
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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