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    2620-2628 136th Street Lubbock, TX 79423

    View on Map
    For Sale
    $995,000

    MULTI_FAMILY - Ranch - Lubbock, TX

    Type:Single Family Residence
    Property size:
    6,688 SF
    Lot size:
    0.37 Acres
    Added:
    May 27, 2025
    Days on Market:
    310
    Last Refresh:
    Apr 1 at 1:06 pm

    Property Features for 2620-2628 136th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Bedrooms
    13
    Bathrooms
    10
    Rooms
    Bedroom 10, Bedroom 5, Bedroom 8, Bedroom 9, Bathroom 8, Bathroom 6, Bathroom 7, Bedroom 4, Bedroom 1, Bathroom 3, Bathroom 1, Bedroom 3, Bedroom 7, Bedroom 2, Bathroom 5, Bedroom 12, Bedroom 6, Bathroom 2, Bathroom 4, Bedroom 13, Bedroom 11, Bathroom 9, Bathroom 10
    Parking features
    Open, Alley, Garage, Driveway
    Window features
    Blinds
    Patio and Porch features
    Porch, Patio
    Interior features
    Ceiling Fan(s), Double Vanity, Eat-in Kitchen, Granite Counters, High Ceilings, Open Floorplan, Pantry, Vaulted Ceiling(s), Walk-In Closet(s)
    Exterior features
    Lighting, Private Entrance, Private Yard
    Appliances
    Dishwasher, Disposal, Electric Oven, Electric Range, Microwave, Refrigerator
    Standard status
    Active
    APN
    R339788, R339789, R339790, R339791, R339792
    Size
    6,688 SF
    Lot size
    0.37 Acres

    Taxes and HOA fees

    TaxDescription
    Viridian L 178, L 179, L 180, L 181, l 182
    TaxAnnualAmount
    17871

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Central
    Cooling system
    Central Air, Electric, Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    2022
    Number of units
    5
    Flooring type
    Tile - Ceramic, Carpet
    Building materials
    Brick
    Roof type
    Composition
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Beth Wylie

    Listing agent Beth Wylie License #0777416

    Listing office Aycock Realty Group, LLC 5707 114th Street, Lubbock, TX

    Listing date May 27, 2025

    MLS# 202555296

    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.

    Overview

    Well-Maintained 5-Plex Built in 2022

    This well-maintained 5-plex, constructed in 2022, is located across the street from East Elementary, which features a park and playground. The property consists of 6,688 square feet on a 0.37-acre lot. It includes three units with 3 bedrooms and 2 bathrooms each, and two units with 2 bedrooms and 2 bathrooms each. Each unit features ceramic tile flooring, an open concept living area, paved rear-entry garages, laundry rooms, and double vanities. The property is currently occupied by tenants.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Hotel & Motel Nail Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.872511
    Latitude
    33.47111

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    FAQs

    What type of property is this?
    Apartment building - Built in 2022, five-unit multifamily property near East Elementary.
    Where is this apartment building located?
    The property is located at 2620-2628 136th Street Lubbock, TX.
    What is the asking price?
    The asking price for this property is $995,000.
    What are key features of this property?
    This property features: Built in 2022, offering modern construction and minimal maintenance.; Five‑unit property (5‑plex) providing immediate rental income.; Located across the street from East Elementary, with park and playground, increasing tenant appeal.
    (405) 435-1534
    We can help!
    Listing Contact
    Beth Wylie
    Real Estate License ID: 0777416
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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