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6,537 ft²
Multifamily
$395,000
Sale


Greg Brownd
Greg Brownd
Lubbock

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Clapp Park Apartments is an 11 unit one-story property that would be ideal for a local owner expanding their portfolio or as a first time multifamily investment opportunity. Current owners have transitioned some tenants to RUBS where they're paying their portion of the utilities now. They've also updated 7 of the units so far. Some of the updates include: counters, flooring, paint, shower kits, and doors. The new owner could continue updating the units as they become available, raise rents, and continue to switch the remaining tenants to RUBS.

  • Recent exterior renovations include: new roof, new exterior paint, and solar screens for windows
  • 3 / 11 units on RUBS - opportunity to recoup expenses on remaining units
  • Strong occupancy for the sub-market
  • Opportunity to raise rents by completing updates


The Space
Asking Price$395,000
Available Space6,537 ft²
SourceBuildout

The Building - Clapp Park Apartments

Clapp Park Apartments is located on Avenue S between 34th and 50th St.

Property TypeMultifamily
Floors1
Building Size6,537 ft²
Lot Size0.38 AC
Year Built1973
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Greg Brownd
Greg Brownd
Lubbock
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