Quadplex with Four Two-Bedroom
7407 Avenue X Lubbock, TX 79423
7407 Avenue X, Lubbock, TX, 79423
$349,000
For Sale
$349,000
MULTI_FAMILY - Other - Lubbock, TX
Property Size3,808 SF
Lot Size0.25 Acres
Price / SF$91.65
Days on Market274
Property Features for 7407 Avenue X
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bathroom 1, Bedroom 3, Bathroom 2, Bathroom 4, Bedroom 7, Bedroom 8, Bathroom 3, Bedroom 2, Bedroom 1, Bedroom 5, Bedroom 4, Bedroom 6
- Parking features
- Carport
- Patio and Porch features
- Deck
- Interior features
- Formica Counters, Natural Woodwork, Pantry
- Exterior features
- Balcony, Lighting, Rain Gutters, Storage
- Fireplace
- 1
- Appliances
- Dishwasher, Electric Range, Exhaust Fan, Refrigerator
- Standard status
- Active
- APN
- R82702
- Size
- 3,808 SF
- Lot size
- 0.25 Acres
Taxes and HOA fees
- Tax Description
- Sandlewood Village L 19
- Tax Annual Amount
- 5345
Utilities
- Heating system
- Central
- Cooling system
- Central Air, Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 1981
- Number of units
- 4
- Flooring type
- Vinyl
- Building materials
- Brick
- Roof type
- Composition
- Architectural style
- Other
- Additional Structures
- Storage
Listing Agency
Better Homes and Gardens
(806) 778-9940
5107 82nd Street, Ste 409, Lubbock, TX
Listed by
Keenon Ward · License #0754407
(325) 436-1970
Added: Oct 17, 2025 Checked: Jul 17 at 2:06 pm
MLS# 202561954
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 quadplex includes four separate residential units. Each unit is configured with 2 bedrooms and 1 bathroom. The property is described as offering secure, individual unit access with four solid doors. The asset sits on a 0.25-acre lot and is listed with a total property size of 3,808 square feet. The current operating context provided indicates steady tenants and market rents currently around $800–$850 per month per unit.
The home is located at 7407 Avenue X in Lubbock, Texas 79423. The property is described as being tucked away in a quiet roundabout, supporting privacy while still providing quick access to amenities in the surrounding area.
For investors or owner-operators seeking a smaller multifamily asset, this quadplex offers a straightforward four-unit layout with consistent unit mix across the building. With the stated current gross rent of $3,070 per month, the property may appeal to those looking for an income-producing residential rental configuration while considering light cosmetic upgrades as referenced in the remarks.
The home is located at 7407 Avenue X in Lubbock, Texas 79423. The property is described as being tucked away in a quiet roundabout, supporting privacy while still providing quick access to amenities in the surrounding area.
For investors or owner-operators seeking a smaller multifamily asset, this quadplex offers a straightforward four-unit layout with consistent unit mix across the building. With the stated current gross rent of $3,070 per month, the property may appeal to those looking for an income-producing residential rental configuration while considering light cosmetic upgrades as referenced in the remarks.
Key Highlights
- South Lubbock quadplex built in 1981 with 4 units, each offering 2 bedrooms and 1 bathroom
- Currently bringing in $3,070/mo gross rent with steady tenants reported
- Central heating and central air plus ceiling fans across the property
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 | $59.9k | $15.72 |
| − Vacancy | −$3.7k | −$0.97 |
| EGI | $56.2k | $14.75 |
| − OpEx | −$25.3k | −$6.64 |
| NOI | $30.9k | $8.11 |
3,808 SF · lease $15.72/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$491.3K
$429.9K – $573.2K
NOI $34,394 @ 7.0% cap · market cap 9.86%
Second Best
Apartment 5plus
$441.2K
$386.0K – $514.7K
NOI $30,883 @ 7.0% cap · market cap 8.85%
Theoretical Best
Office A
$960.0K
$840.0K – $1.12M
NOI $67,201 @ 7.0% cap · market cap 19.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Quadplex - Four-unit quadplex in Lubbock, each with 2 bedrooms and 1 bathroom, currently producing stated gross rent.
Where is this quadplex located?
The property is located at 7407 Avenue X Lubbock, TX.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: South Lubbock quadplex built in 1981 with 4 units, each offering 2 bedrooms and 1 bathroom; Currently bringing in $3,070/mo gross rent with steady tenants reported; Central heating and central air plus ceiling fans across the property
