Updated Four-Unit
For Sale
$360,000
5604 Brownfield Dr, Lubbock, TX 79414
Each apartment has an attached one-car garage, and nearly all units are currently leased.
Property Size3,680 SF
Price / SF$97.83
Days on Market17
Property Features for 5604 Brownfield Dr
General Information
Standard status
Active
Size
3,680 SF
Property subtype
Residential Income
Additional Details
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$23,112
Listing Agency:
Black Pearl Realty
Listed By:
Andi Dunlap · License #0699066
(806) 773-2290
Source:
Exprealty
Added: Oct 16
Changed: Oct 25
Last Checked: Oct 30 at 6:26PM
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 Black Pearl Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This updated quadplex contains four units, each with an attached one-car garage. The reported property size is 3,680 square feet. Nearly all units are leased, with rent rolls available for review.
Eight quadplexes are available in Lubbock. Properties may be acquired individually or together as a portfolio.
Eight quadplexes are available in Lubbock. Properties may be acquired individually or together as a portfolio.
Key Highlights
- Eight quadplexes available in Lubbock
- Four units per quadplex; up to 32 units across the portfolio
- Reported property size: 3,680 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,845
Cap Rate
8.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$596,900
$596.9K
Cap Rate 7%
$426,357
$426.4K
Cap Rate 9%
$331,611
$331.6K
Market Conditions
NOI Build-Up for 3,680 SF
Gross rent
$57.8K $15.72/SF
− Vacancy
−$3.6K −$0.97/SF
EGI
$54.3K $14.75/SF
− OpEx
−$24.4K −$6.64/SF
NOI
$29.8K $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 Rate 5%
$596,900
Cap Rate 7%
$426,357
Cap Rate 9%
$331,611
Alternative Uses
Best Use
Multifamily LT 5
$474.8K
$415.5K – $554.0K
NOI $33,238 @ 7.0% cap · market cap 9.23%
Second Best
Apartment 5plus
$426.4K
$373.1K – $497.4K
NOI $29,845 @ 7.0% cap · market cap 8.29%
Theoretical Best
Office A
$927.7K
$811.8K – $1.08M
NOI $64,942 @ 7.0% cap · market cap 18.04%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
585
Businesses Nearby
Explore this area
Business Placement
Demographics for 79414, TX
17,537
Population
9,219
Households
1.9
Avg Household Size
32
Median Age
25%
College-Educated
89%
High-School Grad
3.2 sq mi
ZIP Area
5,480
Density / Sq Mi
$49,637
Median Household Income
$32,127
Median Earnings
$1,100
Median Rent
$150,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Each apartment has an attached one-car garage, and nearly all units are currently leased.
Where is this quadplex located?
The property is located at 5604 Brownfield Dr Lubbock, TX.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Eight quadplexes available in Lubbock; Four units per quadplex; up to 32 units across the portfolio; Reported property size: 3,680 square feet
