Multifamily Property in Sales
For Sale
$420,000
3821 133rd St, Lubbock, TX 79423
For-sale multifamily property at 3821 133rd St, offered as part of a multi-property package or individually.
Property Size3,102 SF
Price / SF$135.40
Days on Market51
Property Features for 3821 133rd St
General Information
Standard status
Active
Size
3,102 SF
Property subtype
Multi-Family
Building Details
Year Built
2014
Listing Agency:
Coldwell Banker Trusted Adviso
Listed By:
Dennis Carrizales · License #0738689
(806) 543-3939
Source:
Raftercrossrealty
Added: Jul 20
Changed: Sep 7
Last Checked: Sep 7 at 12:12PM
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 Coldwell Banker Trusted Adviso
Investment Insights
Based on property information with market context.
This for-sale multifamily property is located at 3821 133rd St, Lubbock, TX 79423. It is being offered as part of a package, or it may be purchased by itself.
Public remarks note South Lubbock living with proximity to schools, shopping, restaurants, and parks.
The sale package includes multiple additional properties: 2123 143rd, 319 79th, 3817 133rd, 3819 133rd, 5504 110th, 5724 96th, and 7513 103rd. The property may be marketed and considered alongside the package or evaluated as an individual acquisition.
Public remarks note South Lubbock living with proximity to schools, shopping, restaurants, and parks.
The sale package includes multiple additional properties: 2123 143rd, 319 79th, 3817 133rd, 3819 133rd, 5504 110th, 5724 96th, and 7513 103rd. The property may be marketed and considered alongside the package or evaluated as an individual acquisition.
Key Highlights
- Multifamily property at 3821 133rd St in Lubbock
- Built in 2014
- Offered as part of a multi‑property package or sold individually
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
$25,157
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
5.99%
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%
$503,140
$503.1K
Cap Rate 7%
$359,386
$359.4K
Cap Rate 9%
$279,522
$279.5K
Market Conditions
NOI Build-Up for 3,102 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
$48.8K $15.72/SF
− Vacancy
−$3.0K −$0.97/SF
EGI
$45.7K $14.75/SF
− OpEx
−$20.6K −$6.64/SF
NOI
$25.2K $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%
$503,140
Cap Rate 7%
$359,386
Cap Rate 9%
$279,522
Alternative Uses
Best Use
Apartment 5plus
$359.4K
$314.5K – $419.3K
NOI $25,157 @ 7.0% cap · market cap 5.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$782.0K
$684.3K – $912.4K
NOI $54,742 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
Explore this area
Business Placement
Demographics for 79423, TX
42,311
Population
18,463
Households
2.3
Avg Household Size
35
Median Age
38%
College-Educated
94%
High-School Grad
64.2 sq mi
ZIP Area
659
Density / Sq Mi
$82,906
Median Household Income
$45,520
Median Earnings
$1,284
Median Rent
$222,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - For-sale multifamily property at 3821 133rd St, offered as part of a multi-property package or individually.
Where is this multifamily property located?
The property is located at 3821 133rd St Lubbock, TX.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Multifamily property at 3821 133rd St in Lubbock; Built in 2014; Offered as part of a multi‑property package or sold individually
