5-Unit Apartment
For Sale
$1,575,000
3404 25th Street, Lubbock, TX 79410
Residential Income, Lubbock, TX
Property Size11,170 SF
Lot Size0.37 Acres
Price / SF$141
Days on Market18
Property Features for 3404 25th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bathroom 5, Bathroom 2, Bathroom 4, Bedroom 2, Bedroom 3, Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 1
Window features
Double Pane Windows, Window Coverings
Interior features
Ceiling Fan(s), Granite Counters, Recessed Lighting, Storage, Walk-In Closet(s)
Exterior features
Balcony, Lighting, Rain Gutters
Appliances
Disposal, Electric Range, Microwave, Refrigerator, Washer/Dryer
Lot features
City Lot, Corner Lot
Elementary school
Rush
Middle school
Mackenzie
High school
Coronado
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
3
Standard status
Active
APN
R98750
Size
11,170 SF
Lot size
0.37 Acres
Taxes and HOA fees
Tax Description
Tyler Square Blk 1 L 18-19 & W5'of 20
Tax Annual Amount
17977
Legal Description
Tyler Square Blk 1 L 18-19 & W5'of 20
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric
Water source
Public
Amenities
balconies
washer/dryer
refrigerator
Building Details
Year built
2018
Flooring type
Vinyl
Building materials
Stone, Wood Siding
Roof type
Composition
Additional Structures
Storage
Listing Agency:
Keller Williams Realty
(806) 771-7710
Listed By:
Stacey Rogers · License #0588927
(806) 368-1066
Added: Aug 18
Changed: Aug 19
Last Checked: Sep 4 at 4:06AM
MLS# 202611510
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.
Built in 2018, this 11,170-square-foot apartment property contains five fully leased units. Each residence includes four bedrooms and 4.5 bathrooms, along with an open-concept living arrangement, balcony, washer/dryer, refrigerator, granite counters, walk-in closets, storage, recessed lighting, and ceiling fans. Vinyl flooring, electric cooling, natural gas heating, public water, and public sewer serve the property. The buildings feature stone and wood siding, composition roofing, rain gutters, and exterior lighting.
The property occupies 0.37 acres at 3404 25th Street in Lubbock, Texas, near Texas Tech University. The surrounding area provides access to campus, shopping, dining, and entertainment. Each unit also includes an electric range, microwave, and disposal, supporting a furnished residential setup with established leasing in place.
The property occupies 0.37 acres at 3404 25th Street in Lubbock, Texas, near Texas Tech University. The surrounding area provides access to campus, shopping, dining, and entertainment. Each unit also includes an electric range, microwave, and disposal, supporting a furnished residential setup with established leasing in place.
Key Highlights
- Five fully leased apartment units, each with 4 bedrooms and 4.5 bathrooms
- 11,170 square feet on 0.37 acres
- Built in 2018
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$90,588
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,811,760
$1.8M
Cap Rate 7%
$1,294,114
$1.3M
Cap Rate 9%
$1,006,533
$1.0M
Market Conditions
NOI Build-Up for 11,170 SF
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.
Gross rent
$175.6K $15.72/SF
− Vacancy
−$10.9K −$0.97/SF
EGI
$164.7K $14.75/SF
− OpEx
−$74.1K −$6.64/SF
NOI
$90.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,811,760
Cap Rate 7%
$1,294,114
Cap Rate 9%
$1,006,533
Alternative Uses
Best Use
Apartment 5plus
$1.29M
$1.13M – $1.51M
NOI $90,588 @ 7.0% cap · market cap 5.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.82M
$2.46M – $3.29M
NOI $197,119 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,296
Businesses Nearby
Explore this area
Business Placement
Demographics for 79410, TX
8,615
Population
4,736
Households
1.8
Avg Household Size
29
Median Age
47%
College-Educated
91%
High-School Grad
2.4 sq mi
ZIP Area
3,590
Density / Sq Mi
$48,350
Median Household Income
$29,637
Median Earnings
$1,315
Median Rent
$211,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased multifamily property near Texas Tech with private outdoor space and in-unit laundry appliances.
Where is this apartment building located?
The property is located at 3404 25th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: Five fully leased apartment units, each with 4 bedrooms and 4.5 bathrooms; 11,170 square feet on 0.37 acres; Built in 2018
