Four-Unit Residential Income
5845 7th St Lubbock, TX 79416
New
5845 7th St, Lubbock, TX, 79416
$485,000
For Sale
$485,000
Quadruplex with four fully occupied units, each featuring 3 bedrooms, 2 bathrooms, and 2-car garages.
Property Size4,924 SF
Price / SF$98.50
Days on Market3
Property Features for 5845 7th St
General Information
- Standard status
- Active
- Size
- 4,924 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 2004
Listing agency
WestMark Companies
(806) 928-8929
Listed by
Rania Zeitouni · License #0585831
Source
Raftercrossrealty
Added: Jul 20 Updated: Jul 21 at 4:16AM Checked: Jul 22 at 4:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of WestMark Companies
Investment Insights
Based on property information with market context.
This quadplex offers four fully occupied residential units. Each unit is approximately 1,231 square feet and features three bedrooms and two bathrooms, along with a two-car garage.
The exterior was freshly painted within the past year. The property is presented as turnkey and income producing.
As a four-unit residential income asset, it provides an investor-oriented configuration with all units currently occupied.
The exterior was freshly painted within the past year. The property is presented as turnkey and income producing.
As a four-unit residential income asset, it provides an investor-oriented configuration with all units currently occupied.
Key Highlights
- Quadruplex built in 2004 with 4 fully occupied units
- Each unit features about 1,231 SF with 3 bedrooms and 2 bathrooms
- Each unit includes a 2‑car garage
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 | $68.0k | $13.80 |
| − Vacancy | −$4.4k | −$0.90 |
| EGI | $63.5k | $12.90 |
| − OpEx | −$19.1k | −$3.87 |
| NOI | $44.5k | $9.03 |
4,924 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$635.3K
$555.9K – $741.2K
NOI $44,474 @ 7.0% cap · market cap 9.17%
Second Best
Apartment 5plus
$570.5K
$499.2K – $665.6K
NOI $39,933 @ 7.0% cap · market cap 8.23%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,895 @ 7.0% cap · market cap 17.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Quadplex - Quadruplex with four fully occupied units, each featuring 3 bedrooms, 2 bathrooms, and 2-car garages.
Where is this quadplex located?
The property is located at 5845 7th St Lubbock, TX.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Quadruplex built in 2004 with 4 fully occupied units; Each unit features about 1,231 SF with 3 bedrooms and 2 bathrooms; Each unit includes a 2‑car garage
