Commercial Buyers Club

Excellent opportunity for eager investors to build an empire! 44-unit self-storage facility in central Lubbock, TX near the corner of 19th St/Hwy 114 and Ave Q/Hwy 84, both main arterial roads in Lubbock, TX.

All units are 10'x17' with 170 sq ft of storable space, and are drive-up accessible with roll-up overhead doors and outdoor access. 33 units are located inside the automated keypad access gate; 11 units are located outside the gates and have street access. Units are $80 and $90/month. Currently at 25% occupancy. Current using Easy Storage Solutions (ESS) platform, and has an online presence. Located in a popular neighborhood near Texas Tech University. This is a value-add opportunity for new or seasoned investors to market the property to attract tenants for available and ready-to-rent units.

Assumption details - lien holder is requesting a $50k principal payment on the current loan of $192k and an interest rate of 7% to assume the loan. Interest only payments; maturity date is Feb 2026.
The current occupancy is 25%, which is 11 units.
The current income as of Nov 3 is $12545 - summary report attached.

Many of the units shown on the attached revenue statement that are past due have been cleaned out.

As you will notice, the revenues sheet is through the end of September, and the balance appears to jive when October rents are taken into consideration as reflected by the management summary dated Nov 3. A new leasee did rent a unit in October.