30-Unit Multifamily in Lubbock, TX

Multifamily • 30 Units •

Totally Updated Student Housing 30 Units Blocks from Texas Tech

The Graduate Apartments presents investors with a 30-unit, capital-improved asset in one of Lubbock's highest-demand rental corridors. Located in the desirable Overton development just blocks from Texas Tech University and its 40,000-student population, the property benefits from deep, recurring rental demand and sits directly across from Super Walmart, shopping, restaurants, and the Buddy Holly Performing Arts Center — offering residents a walkable, amenity-rich lifestyle that supports strong occupancy and rent growth. Ownership has invested approximately $1.3 million over the past 17 months in major capital improvements, including new sewer and PEX plumbing lines, 30 new HVAC systems, drywall replacement, and fully renovated kitchens — substantially de-risking near-term capex for a buyer and positioning the asset for immediate cash flow with minimal deferred maintenance.

With in-place NOI of $177,388 and offered at $2,597,000 (a 6.83% going-in cap rate), The Graduate Apartments combines a newly renovated unit base with a proven, high-barrier location adjacent to one of Texas's largest universities — a compelling opportunity for investors seeking durable student-and-workforce housing demand paired with meaningful upside as in-place rents continue to close the gap to market.