Remodeled Three-Unit
2123 21st Street, Lubbock, TX 79411
For Sale
$175,000
Residential Income, Lubbock, TX
Property Size1,816 SF
Lot Size0.16 Acres
Price / SF$96.37
Days on Market99
Property Features for 2123 21st Street
General Information
Property type
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Zoning description
Bedrooms
Bathrooms
Full bathrooms
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Parking features
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Fencing
Appliances
Lot features
Elementary school
Middle school
High school
Elementary school district
Middle school district
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Subdivision
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
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Building Details
Year built
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Number of units
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Additional Structures
Listing Agency:
Brick & Loft Realty
(806) 999-0722
Listed By:
Travis Turner · License TX #0660475
(806) 577-2508
Added: Aug 4
Changed: Oct 29
Last Checked: Nov 10 at 8:06PM
MLS# 202610784
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.
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Investment Insights
Based on property information with market context.
This three-unit residential property in Lubbock offers 1,816 square feet on a 0.16-acre lot. The building was remodeled in 2024 and includes vinyl flooring, central heating, electric cooling, ceiling fans, storage, and fenced outdoor space. Covered off-street parking is provided by a carport, while the property also features a composition roof and private yard.
Located at 2123 21st Street near Texas Tech, the property carries Apartment A-1 zoning and is configured for triplex use. All three units are currently leased. The 1929-built structure also includes electric range and range hood appliances, along with wall or window cooling units.
Located at 2123 21st Street near Texas Tech, the property carries Apartment A-1 zoning and is configured for triplex use. All three units are currently leased. The 1929-built structure also includes electric range and range hood appliances, along with wall or window cooling units.
Key Highlights
- Three‑unit property with 1,816 SF of building area
- Full remodel completed in 2024
- 0.16‑acre lot at 2123 21st Street, Lubbock, TX 79411
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,728
Cap Rate
8.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$294,560
$294.6K
Cap Rate 7%
$210,400
$210.4K
Cap Rate 9%
$163,644
$163.6K
Market Conditions
NOI Build-Up for 1,816 SF
Gross rent
$28.5K $15.72/SF
− Vacancy
−$1.8K −$0.97/SF
EGI
$26.8K $14.75/SF
− OpEx
−$12.0K −$6.64/SF
NOI
$14.7K $8.11/SF
Area
Lubbock, TX
Vacancy
6.20%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$294,560
Cap Rate 7%
$210,400
Cap Rate 9%
$163,644
Alternative Uses
Best Use
Multifamily LT 5
$234.3K
$205.0K – $273.4K
NOI $16,402 @ 7.0% cap · market cap 9.37%
Second Best
Apartment 5plus
$210.4K
$184.1K – $245.5K
NOI $14,728 @ 7.0% cap · market cap 8.42%
Theoretical Best
Office A
$457.8K
$400.6K – $534.1K
NOI $32,047 @ 7.0% cap · market cap 18.31%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
977
Businesses Nearby
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Business Placement
Demographics for 79411, TX
7,297
Population
3,474
Households
2.1
Avg Household Size
31
Median Age
22%
College-Educated
72%
High-School Grad
1.5 sq mi
ZIP Area
4,865
Density / Sq Mi
$44,866
Median Household Income
$24,493
Median Earnings
$942
Median Rent
$85,000
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Lubbock, TX
Properties on Market for Triplexes in Lubbock
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Fully leased residential asset near Texas Tech with A-1 apartment zoning.
Where is this triplex located?
The property is located at 2123 21st Street Lubbock, TX.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Three‑unit property with 1,816 SF of building area; Full remodel completed in 2024; 0.16‑acre lot at 2123 21st Street, Lubbock, TX 79411
