Remodeled Triplex Investment
2123 21st Street Lubbock, TX 79411
2123 21st Street, Lubbock, TX, 79411
$175,000
For Sale
$175,000
MULTI_FAMILY - Lubbock, TX
Property Size1,816 SF
Lot Size0.16 Acres
Price / SF$96.37
Days on Market160
Property Features for 2123 21st Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Triplex
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 1
- Parking features
- Carport, Covered, Off Street
- Window features
- Window Coverings
- Interior features
- Ceiling Fan(s), Storage
- Exterior features
- Private Yard
- Fencing
- Fenced
- Appliances
- Electric Range, Range Hood
- Standard status
- Active
- APN
- R117291
- Size
- 1,816 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Description
- McCrummen 2nd Blk 54 L 12
- Tax Annual Amount
- 3057
Utilities
- Heating system
- Central
- Cooling system
- Wall/Window Unit(s), Electric, Central Air, Window Unit(s)
Building Details
- Year built
- 1929
- Floors in Building
- 1
- Number of units
- 3
- Flooring type
- Vinyl
- Building materials
- Asbestos
- Roof type
- Composition
- Additional Structures
- Storage
Listing agency
Brick & Loft Realty
(806) 999-0722
Listed by
Travis Turner · License #0660475
(806) 577-2508
Added: Feb 11 Updated: Jul 18 at 8:35AM Checked: Jul 21 at 11:06PM
MLS# 202601861
Copyright © 2026 Lubbock Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This triplex investment property includes three residential units configured to operate as a triplex, with a full remodel completed in 2024. The listing notes the property was rezoned to Apartment A-1 and is suitable for triplex use. As of the information provided, two units are currently rented and one unit is vacant.
The property is located at 2123 21st Street in Lubbock, Texas 79411, in Lubbock County. The public remarks state it is down from Texas Tech, which may be relevant to tenants and operators seeking proximity to the university area.
For investors and operators, the current leasing position offers immediate occupancy with room to stabilize once the remaining vacancy is filled. The provided rent context indicates that when fully rented, total rent would be $2000, giving a basis for evaluating operating plans. The rezoning to Apartment A-1 and the 2024 remodel are the primary property-specific items supporting usability as a triplex under the current configuration.
The property is located at 2123 21st Street in Lubbock, Texas 79411, in Lubbock County. The public remarks state it is down from Texas Tech, which may be relevant to tenants and operators seeking proximity to the university area.
For investors and operators, the current leasing position offers immediate occupancy with room to stabilize once the remaining vacancy is filled. The provided rent context indicates that when fully rented, total rent would be $2000, giving a basis for evaluating operating plans. The rezoning to Apartment A-1 and the 2024 remodel are the primary property-specific items supporting usability as a triplex under the current configuration.
Key Highlights
- Rezoned to Apartment A‑1 and suitable for a triplex
- Remodeled in 2024; currently 2 units rented with 1 vacancy (fully rented total $2,000 rent reported)
- Year built 1929 with composition roof
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.5k | $15.72 |
| − Vacancy | −$1.8k | −$0.97 |
| EGI | $26.8k | $14.75 |
| − OpEx | −$12.0k | −$6.64 |
| NOI | $14.7k | $8.11 |
1,816 SF · lease $15.72/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$234.3K
$205.0K – $273.4K
NOI $16,402 @ 7.0% cap · market cap 9.37%
Second Best
Apartment 5plus
$210.4K
$184.1K – $245.5K
NOI $14,728 @ 7.0% cap · market cap 8.42%
Theoretical Best
Office A
$457.8K
$400.6K – $534.1K
NOI $32,047 @ 7.0% cap · market cap 18.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - A 2024 fully remodeled triplex setup with two rented units and one vacancy, rezoned for triplex use.
Where is this triplex located?
The property is located at 2123 21st Street Lubbock, TX.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Rezoned to Apartment A‑1 and suitable for a triplex; Remodeled in 2024; currently 2 units rented with 1 vacancy (fully rented total $2,000 rent reported); Year built 1929 with composition roof
