Turnkey Quadplex with Updated
7401 Avenue X Lubbock, TX 79423
7401 Avenue X, Lubbock, TX, 79423
$299,900
For Sale
$299,900
MULTI_FAMILY - Lubbock, TX
Property Size3,102 SF
Lot Size0.25 Acres
Price / SF$96.68
Days on Market17
Property Features for 7401 Avenue X
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bedroom 5, Bathroom 3, Bedroom 4, Bedroom 1, Bathroom 2, Bathroom 4, Bedroom 6, Bedroom 2, Bathroom 1, Bedroom 3
- Parking features
- Parking Lot
- Interior features
- Ceiling Fan(s)
- Fencing
- Fenced
- Fireplace
- 1
- Standard status
- Active
- APN
- R82786
- Size
- 3,102 SF
- Lot size
- 0.25 Acres
Taxes and HOA fees
- Tax Description
- Sandlewood Village L 22A
- Tax Annual Amount
- 3713
Utilities
- Heating system
- Natural Gas
- Cooling system
- Ceiling Fan(s), Multi Units, Electric
Building Details
- Year built
- 1981
- Floors in Building
- 1
- Building materials
- Stucco
- Roof type
- Composition
Listing Agency
Williams & Company Real Estate
(806) 860-6945
918 Ave J, Lubbock, TX
Listed by
Cameron Seale · License #0688378
(806) 773-0821
Added: Jul 1 Checked: Jul 17 at 12:06 pm
MLS# 202608974
Listing URL
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.
Turnkey, professionally managed quadplex now available with $5,000 in seller concessions. The property consists of units featuring 2 bedrooms and 1 bathroom, with some updates throughout.
Located in South Lubbock, the quadplex is just off University Avenue and near South Loop 289, providing convenient access to major roads, Texas Tech, and nearby dining and shopping.
The offering may also be purchased as part of a package that includes 7405 Ave X and 7405 Waco Ave.
Located in South Lubbock, the quadplex is just off University Avenue and near South Loop 289, providing convenient access to major roads, Texas Tech, and nearby dining and shopping.
The offering may also be purchased as part of a package that includes 7405 Ave X and 7405 Waco Ave.
Key Highlights
- Professionally managed quadplex with 4 units in South Lubbock
- Each unit offers 2 bedrooms and 1 bathroom
- Year built 1981 with stucco construction and a 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 | $48.8k | $15.72 |
| − Vacancy | −$3.0k | −$0.97 |
| EGI | $45.7k | $14.75 |
| − OpEx | −$20.6k | −$6.64 |
| NOI | $25.2k | $8.11 |
3,102 SF · lease $15.72/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$400.3K
$350.2K – $467.0K
NOI $28,018 @ 7.0% cap · market cap 9.34%
Second Best
Apartment 5plus
$359.4K
$314.5K – $419.3K
NOI $25,157 @ 7.0% cap · market cap 8.39%
Theoretical Best
Office A
$782.0K
$684.3K – $912.4K
NOI $54,742 @ 7.0% cap · market cap 18.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Slim Baby Creative
Marketing & Advertising
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FAQs
What type of property is this?
Quadplex - Professionally managed quadplex with 2-bedroom, 1-bath units and some updates throughout, offered with seller concessions.
Where is this quadplex located?
The property is located at 7401 Avenue X Lubbock, TX.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Professionally managed quadplex with 4 units in South Lubbock; Each unit offers 2 bedrooms and 1 bathroom; Year built 1981 with stucco construction and a composition roof
