Listing Agency: WestMark Companies Show Phone

Listed By: Joy Daniel · License #0525754 Show Phone

Source: Exprealty

Added: Jul 26 Changed: Oct 4 Last Checked: Oct 16 at 12:24PM

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Investment Insights

Based on property information with market context.

This quadplex contains four matching residential units within 4,924 square feet. Each layout provides three bedrooms and two bathrooms, with an open living area connected to a kitchen with pantry storage. Primary suites include walk-in closets and ensuite bathrooms with tub-and-shower combinations. Washer and dryer connections are included, and private balconies extend each unit’s usable living space. An oversized attached two-car garage provides additional storage and parking capacity.

The property is located at 5827 6th St in Lubbock, Texas, within Frenship ISD. Its four-unit configuration and consistent floor plans create a straightforward multifamily asset with shared physical characteristics throughout the building.

Key Highlights

• Four‑unit quadplex totaling 4,924 square feet
• Each unit includes 3 bedrooms and 2 bathrooms
• Matching floor plans across all four units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$44,474

Cap Rate

9.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$889,480 $889.5K

Cap Rate 7%

$635,343 $635.3K

Cap Rate 9%

$494,156 $494.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,924 SF

Gross rent

$68.0K $13.80/SF

− Vacancy

−$4.4K −$0.90/SF

EGI

$63.5K $12.90/SF

− OpEx

−$19.1K −$3.87/SF

NOI

$44.5K $9.03/SF

Area

Lubbock, TX

Vacancy

6.50%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$889,480

Cap Rate 7%

$635,343

Cap Rate 9%

$494,156

Alternative Uses

Best Use

Multifamily LT 5

$635.3K

$555.9K – $741.2K (±1% cap)

NOI $44,474 @ 7.0% cap · market cap 9.08%

Second Best

Apartment 5plus

$570.5K

$499.2K – $665.6K (±1% cap)

NOI $39,933 @ 7.0% cap · market cap 8.15%

Theoretical Best

Office A

$1.24M

$1.09M – $1.45M (±1% cap)

NOI $86,895 @ 7.0% cap · market cap 17.73%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Hair Salon Spa & Massage Center Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

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

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Identical layouts offer three-bedroom living, private balconies, and attached garage storage across the property.

Where is this quadplex located?

The property is located at 5827 6th St Lubbock, TX.

What is the asking price?

The asking price for this property is $490,000.

What are key features of this property?

This property features: Four‑unit quadplex totaling 4,924 square feet; Each unit includes 3 bedrooms and 2 bathrooms; Matching floor plans across all four units