Lubbock Multifamily Investment
3511 - 3519 35th Street Lubbock, TX 79413
3511 - 3519 35th Street, Lubbock, TX, 79413
$1,100,000
For Sale
$1,100,000
MULTI_FAMILY - Lubbock, TX
Property Size10,725 SF
Lot Size0.90 Acres
Price / SF$102.56
Days on Market306
Property Features for 3511 - 3519 35th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 20
- Bathrooms
- 10
- Rooms
- Bedroom 10, Bedroom 11, Bathroom 6, Bedroom 15, Bedroom 1, Bathroom 8, Bedroom 14, Bedroom 4, Bathroom 3, Bathroom 5, Bathroom 2, Bedroom 20, Bedroom 19, Bedroom 9, Bedroom 12, Bedroom 6, Bedroom 17, Bathroom 1, Bathroom 7, Bedroom 13, Bedroom 2, Bathroom 10, Bedroom 7, Bathroom 4, Bedroom 5, Bathroom 9, Bedroom 3, Bedroom 18, Bedroom 16, Bedroom 8
- Parking features
- Driveway
- Patio and Porch features
- Porch
- Fencing
- Fenced
- Appliances
- Electric Oven, Gas Cooktop
- Standard status
- Active
- APN
- R91955
- Size
- 10,725 SF
- Lot size
- 0.90 Acres
Taxes and HOA fees
- Tax Description
- MORRIS TW BLK 2 L 1-5
- Tax Annual Amount
- 13869
Utilities
- Utilities
- Water Available
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Ceiling Fan(s), Central Air
- Water source
- Public
Building Details
- Year built
- 1959
- Floors in Building
- 1
- Flooring type
- Vinyl, Carpet
- Building materials
- Brick Veneer
- Roof type
- Composition
Listing Agency
WestMark Companies
(806) 794-6000
4105 84th Street, Lubbock, TX
Listed by
David Haymes · License #0618395
(806) 789-7653
Added: Sep 15, 2025 Checked: Jul 17 at 1:06 pm
MLS# 202561284
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.
Located in Lubbock, Texas, this multifamily property comprises five buildings, offering a total of ten units. The property is currently 100% occupied, providing immediate income for investors. The property contains a total of 10,725 square feet and is situated on a 0.9-acre lot. This asset represents a combination of stability and potential upside.
Key Highlights
- 5‑building duplex property with 10 total units in Lubbock, currently 100% occupied
- Built in 1959 with brick veneer construction
- Central heating and central air with ceiling fans
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 | $168.6k | $15.72 |
| − Vacancy | −$10.5k | −$0.97 |
| EGI | $158.1k | $14.75 |
| − OpEx | −$71.2k | −$6.64 |
| NOI | $87.0k | $8.11 |
10,725 SF · lease $15.72/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $86,979 @ 7.0% cap · market cap 7.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.70M
$2.37M – $3.15M
NOI $189,266 @ 7.0% cap · market cap 17.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Five-building duplex property with ten units, 100% occupied in Lubbock.
Where is this apartment building located?
The property is located at 3511 - 3519 35th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 5‑building duplex property with 10 total units in Lubbock, currently 100% occupied; Built in 1959 with brick veneer construction; Central heating and central air with ceiling fans
