Three-Unit Residential Income
3809 36th Street Lubbock, TX 79413
3809 36th Street, Lubbock, TX, 79413
$235,000
For Sale
$235,000
MULTI_FAMILY - Lubbock, TX
Property Size1,630 SF
Lot Size0.17 Acres
Price / SF$144.17
Days on Market29
Property Features for 3809 36th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 3
- Parking features
- Driveway
- Standard status
- Active
- APN
- R338901
- Size
- 1,630 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Description
- Sunny Hill Blk 3 L 5A
- Tax Annual Amount
- 3933
Utilities
- Heating system
- Electric (Heating)
- Cooling system
- Electric, Ceiling Fan(s)
Building Details
- Year built
- 2023
- Floors in Building
- 1
- Number of units
- 3
- Building materials
- Blown-In Insulation, Brick Veneer, Masonite
- Roof type
- Composition
Listing Agency
Exit Realty of Lubbock
(806) 771-3900
2405 W Loop 289, Ste 100, Lubbock, TX
Listed by
Coby Crump · License #0468085
(806) 789-4600
Added: Jun 19 Checked: Jul 17 at 12:06 pm
MLS# 202608540
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.
This property was originally a 3/2/2 and has been retrofitted into a front apartment plus two back room rentals. The back two bedrooms share a spacious bathroom, with locking doors for individual privacy and security. The units are configured with separate entrances, supporting straightforward tenant separation and day-to-day access.
The home includes parking accessibility for the separated rentals, making it practical for residents who prefer direct arrival and entry. The arrangement places the apartment at the front while keeping the two back room rentals behind it.
For investors or buyers looking for a smaller residential income setup, the property offers three separate rentable spaces within one building footprint. The separate entrances and parking accessibility can help reduce operational friction compared with more shared-access designs. Current reported rents are $925 for the front apartment and $650 for each back room rental, providing a clear starting point for evaluating the unit economics.
The home includes parking accessibility for the separated rentals, making it practical for residents who prefer direct arrival and entry. The arrangement places the apartment at the front while keeping the two back room rentals behind it.
For investors or buyers looking for a smaller residential income setup, the property offers three separate rentable spaces within one building footprint. The separate entrances and parking accessibility can help reduce operational friction compared with more shared-access designs. Current reported rents are $925 for the front apartment and $650 for each back room rental, providing a clear starting point for evaluating the unit economics.
Key Highlights
- 2023‑built 3‑bedroom, 2‑bath home retrofitted into a front apartment and two back room rentals
- Front apartment rents for $925 with a separate entrance and parking accessibility
- Each back room rental rents for $650, and each unit has a separate entrance
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 | $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
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Retrofit three-unit layout with separate entrances and parking, configured for a front apartment and two back room rentals.
Where is this triplex located?
The property is located at 3809 36th Street 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: 2023‑built 3‑bedroom, 2‑bath home retrofitted into a front apartment and two back room rentals; Front apartment rents for $925 with a separate entrance and parking accessibility; Each back room rental rents for $650, and each unit has a separate entrance
