35-Unit Multifamily
New
For Sale
$595,000
5808 6th Street, Lubbock, TX 79416
A 25-property rental collection in Lubbock with every rentable unit currently occupied.
Property Size4,160 SF
Price / SF$143.03
Days on Market3
Property Features for 5808 6th Street
General Information
Standard status
Active
Size
4,160 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Asking Price
$4,200,000
Multifamily Units
35
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,462
Amenities
Yes
8
No
Public Records
4
4160.0
0.26
Attached,Garage
Paved
Slab
City Street
Building Details
Building Size
4,160 SF
Year Built
1984
Buildings
25
Listing Agency:
Reside Real Estate Co.
(806) 319-5090
Listed By:
Sarah Klassen
Source:
Clearrockrealty
Added: Oct 30
Changed: Oct 31
Last Checked: Oct 31 at 3:26AM
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 Reside Real Estate Co.
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Investment Insights
Based on property information with market context.
This multifamily portfolio comprises 25 properties and 35 rentable doors in Lubbock, Texas. All units are currently rented, and the properties are tenant-occupied. The collection is professionally managed.
Key Highlights
- 25 properties across Lubbock, Texas
- 35 rentable doors
- Every unit is currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,737
Cap Rate
5.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$674,740
$674.7K
Cap Rate 7%
$481,957
$482.0K
Cap Rate 9%
$374,856
$374.9K
Market Conditions
NOI Build-Up for 4,160 SF
Gross rent
$65.4K $15.72/SF
− Vacancy
−$4.1K −$0.97/SF
EGI
$61.3K $14.75/SF
− OpEx
−$27.6K −$6.64/SF
NOI
$33.7K $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%
$674,740
Cap Rate 7%
$481,957
Cap Rate 9%
$374,856
Alternative Uses
Best Use
Apartment 5plus
$482.0K
$421.7K – $562.3K
NOI $33,737 @ 7.0% cap · market cap 5.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$917.7K – $1.22M
NOI $73,412 @ 7.0% cap · market cap 12.34%
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
Lease Details
35
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
325
Businesses Nearby
Explore this area
Business Placement
Demographics for 79416, TX
36,251
Population
16,094
Households
2.3
Avg Household Size
30
Median Age
39%
College-Educated
93%
High-School Grad
32.1 sq mi
ZIP Area
1,129
Density / Sq Mi
$65,200
Median Household Income
$34,258
Median Earnings
$1,269
Median Rent
$196,900
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?
Multifamily property - A 25-property rental collection in Lubbock with every rentable unit currently occupied.
Where is this multifamily property located?
The property is located at 5808 6th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 25 properties across Lubbock, Texas; 35 rentable doors; Every unit is currently rented
