Professionally Managed
7405 Waco Avenue Lubbock, TX 79423
7405 Waco Avenue, Lubbock, TX, 79423
$299,900
For Sale
$299,900
MULTI_FAMILY - Lubbock, TX
Property Size3,048 SF
Lot Size0.24 Acres
Price / SF$98.39
Days on Market17
Property Features for 7405 Waco Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bathroom 4, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 6, Bedroom 8, Bedroom 3, Bedroom 7, Bathroom 2, Bedroom 5, Bedroom 2, Bathroom 3
- Parking features
- Parking Lot
- Interior features
- Ceiling Fan(s)
- Exterior features
- Balcony
- Fireplace
- 1
- Standard status
- Active
- APN
- R82493
- Size
- 3,048 SF
- Lot size
- 0.24 Acres
Taxes and HOA fees
- Tax Description
- Sandlewood Village L 12
- Tax Annual Amount
- 3622
Utilities
- Heating system
- Natural Gas
- Cooling system
- Multi Units, Electric
Building Details
- Year built
- 1983
- Floors in Building
- 2
- 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# 202608970
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.
This professionally managed quadplex in South Lubbock offers a turn-key structure designed for rental income. The property totals 3,048 square feet on a 0.24-acre lot, and it is described as having stable occupancy within a consistently leased area.
Located at 7405 Waco Avenue in Lubbock, TX 79423, the asset sits just off University Avenue and near South Loop 289, providing quick access to major roads, Texas Tech, and nearby restaurants and shopping.
The quadplex may also be purchased as part of a package that includes 7401 Ave X and 7405 Ave X.
Located at 7405 Waco Avenue in Lubbock, TX 79423, the asset sits just off University Avenue and near South Loop 289, providing quick access to major roads, Texas Tech, and nearby restaurants and shopping.
The quadplex may also be purchased as part of a package that includes 7401 Ave X and 7405 Ave X.
Key Highlights
- $5,000 in seller concessions offered with this professionally managed quadplex
- Quadplex built in 1983 with stucco exterior and a composition roof
- Heating: natural gas; cooling includes electric system (multi units)
Local 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 | $42.1k | $13.80 |
| − Vacancy | −$2.7k | −$0.90 |
| EGI | $39.3k | $12.90 |
| − OpEx | −$11.8k | −$3.87 |
| NOI | $27.5k | $9.03 |
3,048 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$393.3K
$344.1K – $458.8K
NOI $27,530 @ 7.0% cap · market cap 9.18%
Second Best
Apartment 5plus
$353.1K
$309.0K – $412.0K
NOI $24,719 @ 7.0% cap · market cap 8.24%
Theoretical Best
Office A
$768.4K
$672.4K – $896.5K
NOI $53,789 @ 7.0% cap · market cap 17.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - Professionally managed quadplex offering income-producing rental units in South Lubbock, TX.
Where is this quadplex located?
The property is located at 7405 Waco Avenue 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: $5,000 in seller concessions offered with this professionally managed quadplex; Quadplex built in 1983 with stucco exterior and a composition roof; Heating: natural gas; cooling includes electric system (multi units)
