802 N 14th Street, Lamesa, TX 79331

7 UNIT APARTMENT COMPLEX802 North 14th, Lamesa TXPrice: $250,000.00This well-maintained complex is one of a kind in Lamesa.  Consists of seven separate units, with each unit having a kitchen with dining area, a living area, single bedroom and one bathroom with a tub/shower combination.  Heat is provided by gas wall units in each apartment.  There are also at least two window unit air conditioners in each apartment.  All rooms are furnished with a refrigerator and a 4-burner stove with oven. Each apartment has a slightly different floor plan, ranging in size from 500 sf to 600 sf.  Total square footage is 3,856, on a .312-acre lot.  There are four small, covered porches, a small metal storage building, and a carport for apt #7.  The composition roof was replaced in August of 2021.  Each unit has its own separate water, gas and electric meter, and tenants pay their own utilities.  No hook ups on site for washers/dryers.Rents currently range from $350 to $510 per month.  With all units full the current monthly income is $3,090.  Some rate increases are obviously overdue.   Vacancy rate is virtually nil. 2024 Property Tax$5,866Property Insurance$5,343Quarterly pest treatment ($270)$1,080Yard maintenance annual estimate$1,000  Annual expense      $13,289