New Four-Unit Townhome
7029 40th Street Lubbock, TX 79407
For Sale
$796,000
MULTI_FAMILY - Other - Lubbock, TX
Property Size5,300 SF
Lot Size0.09 Acres
Price / SF$150.19
Days on Market18
Property Features for 7029 40th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Quadruplex
- Property condition
- Under Construction
- Bedrooms
- 12
- Bathrooms
- 8
- Rooms
- Bathroom 2, Bedroom 9, Bedroom 3, Bedroom 8, Bedroom 7, Bedroom 5, Bedroom 2, Bathroom 8, Bedroom 4, Bedroom 1, Bathroom 3, Bathroom 6, Bathroom 1, Bathroom 5, Bathroom 4, Bedroom 10, Bedroom 11, Bathroom 7, Bedroom 12, Bedroom 6
- Parking features
- Garage
- Window features
- Double Pane Windows
- Interior features
- Bar, Ceiling Fan(s), Granite Counters, Walk-In Closet(s)
- Exterior features
- Lighting, Private Yard
- Appliances
- Dishwasher, Disposal, Electric Cooktop, Microwave
- Standard status
- Active
- APN
- R348253
- Size
- 5,300 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Description
- Frenship East L 41, 42, 43, 44
- Tax Annual Amount
- 1728
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Central
- Cooling system
- Electric, Central Air
- Water source
- Public
Building Details
- Year built
- 2026
- Number of units
- 4
- Flooring type
- Laminate
- Building materials
- Brick
- Roof type
- Composition
- Architectural style
- Other
Listing Agency:
Aycock Realty Group, LLC
(806) 778-5956
Listed By:
Melissa Brouillette · License #0611734
(806) 441-2221
Added: Jul 7
Changed: Jul 18
Last Checked: Jul 24 at 7:06PM
MLS# 202609263
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.
Newly constructed four-unit townhome building comprising 4 residential units, totaling 5,300 square feet on a 0.09-acre lot. The property is presented as a townhome-style multifamily asset designed for long-term, low-maintenance ownership, with modern interior finishes intended to appeal to today’s renters.
The building is located at 7029 40th Street in Lubbock, TX 79407. Public remarks note convenient proximity to Frenship Memorial High School within walking distance and Canyon West Shopping Center just minutes away, supporting everyday access to schools and nearby retail and dining options.
This offering is positioned for buyers seeking a turnkey multifamily asset with four individual townhome units. As a smaller-scale income property, it can fit investors looking to add to an existing portfolio or acquire a newly built residential income building in West Lubbock. Please contact for additional details on unit configuration and the current offering package.
The building is located at 7029 40th Street in Lubbock, TX 79407. Public remarks note convenient proximity to Frenship Memorial High School within walking distance and Canyon West Shopping Center just minutes away, supporting everyday access to schools and nearby retail and dining options.
This offering is positioned for buyers seeking a turnkey multifamily asset with four individual townhome units. As a smaller-scale income property, it can fit investors looking to add to an existing portfolio or acquire a newly built residential income building in West Lubbock. Please contact for additional details on unit configuration and the current offering package.
Key Highlights
- Under construction brick 4‑unit townhome building, Year built 2026
- Interiors feature granite counters, walk‑in closets, ceiling fans, and laminate flooring
- Appliances include dishwasher, disposal, electric cooktop, and microwave
Financial Insights For Multifamily LT 5
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 | $73.1k | $13.80 |
| − Vacancy | −$4.8k | −$0.90 |
| EGI | $68.4k | $12.90 |
| − OpEx | −$20.5k | −$3.87 |
| NOI | $47.9k | $9.03 |
5,300 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$683.9K
$598.4K – $797.8K
NOI $47,870 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$614.0K
$537.3K – $716.4K
NOI $42,983 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,530 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Newly constructed four-unit townhome property offers income potential and turnkey ownership for multifamily investors.
Where is this quadplex located?
The property is located at 7029 40th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $796,000.
What are key features of this property?
This property features: Under construction brick 4‑unit townhome building, Year built 2026; Interiors feature granite counters, walk‑in closets, ceiling fans, and laminate flooring; Appliances include dishwasher, disposal, electric cooktop, and microwave
