Three-Unit Residential
3809 36th St Lubbock, TX 79413
New
For Sale
$235,000
Front apartment and two back room rentals feature separate entrances and parking accessibility.
Property Size1,630 SF
Price / SF$144.17
Days on Market4
Property Features for 3809 36th St
General Information
- Standard status
- Active
- Size
- 1,630 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 2023
Listing Agency:
Exit Realty of Lubbock
(806) 771-3900
Listed By:
Coby Crump · License #0468085
Source:
Raftercrossrealty
Added: Jul 21
Changed: Jul 22
Last Checked: Jul 23 at 5:15AM
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 Exit Realty of Lubbock
Investment Insights
Based on property information with market context.
This property is a three-unit residential income setup, originally a 3/2/2 that has been retrofitted into a front apartment and two back room rentals. Each unit has a separate entrance and parking accessibility. The two back rentals each have their own locked door access to the shared, spacious bathroom to support individual privacy and security.
The home is offered for sale. Reported current rents include $925 for the front apartment and $650 for each back room rental.
The configuration provides a straightforward three-door layout with shared bathroom access limited to the two back room rentals, while the front apartment operates separately from the rear units.
The home is offered for sale. Reported current rents include $925 for the front apartment and $650 for each back room rental.
The configuration provides a straightforward three-door layout with shared bathroom access limited to the two back room rentals, while the front apartment operates separately from the rear units.
Key Highlights
- Year built 2023 3/2/2 retrofitted into a front apartment and two back room rentals
- Front apartment rents for $925; each back room rental rents for $650
- Each unit has a separate entrance
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 | $22.5k | $13.80 |
| − Vacancy | −$1.5k | −$0.90 |
| EGI | $21.0k | $12.90 |
| − OpEx | −$6.3k | −$3.87 |
| NOI | $14.7k | $9.03 |
1,630 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$210.3K
$184.0K – $245.4K
NOI $14,722 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$188.8K
$165.2K – $220.3K
NOI $13,219 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$410.9K
$359.6K – $479.4K
NOI $28,765 @ 7.0% cap · market cap 12.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Front apartment and two back room rentals feature separate entrances and parking accessibility.
Where is this triplex located?
The property is located at 3809 36th St Lubbock, TX.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Year built 2023 3/2/2 retrofitted into a front apartment and two back room rentals; Front apartment rents for $925; each back room rental rents for $650; Each unit has a separate entrance
