Quadplex with Private
For Sale
$490,000
Pending
5839 7th Street, Lubbock, TX 79416
MULTI_FAMILY - Lubbock, TX
Property Size4,924 SF
Lot Size0.26 Acres
Days on Market50
Property Features for 5839 7th Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
12
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 2, Bedroom 8, Bathroom 2, Bedroom 7, Bedroom 3, Bedroom 5, Bathroom 4, Bedroom 11, Bathroom 1, Bedroom 12, Bathroom 3, Bathroom 6, Bathroom 5, Bedroom 9, Bathroom 7, Bedroom 1, Bedroom 10, Bathroom 8, Bedroom 4, Bedroom 6
Parking features
Garage
Interior features
Pantry, Storage
Elementary school district
Frenship ISD
Middle school district
Frenship ISD
High school district
Frenship ISD
Subdivision
8
Standard status
Pending
APN
R70952
Size
4,924 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Description
Crows Nest L 23-A-1 Thru 23-C-1
Tax Annual Amount
8152
Legal Description
Crows Nest L 23-A-1 Thru 23-C-1
Utilities
Heating system
Natural Gas
Cooling system
Electric, Central Air
Amenities
Private BALCONY
Washer/dryer connections
Building Details
Year built
2004
Floors in Building
2
Number of units
4
Building materials
Brick
Roof type
Composition
Additional Structures
Storage
Listing Agency:
WestMark Companies
(806) 794-6000
Listed By:
Joy Daniel · License #0525754
(806) 535-1206
Added: Jun 24
Changed: Aug 2
Last Checked: Aug 12 at 4:06PM
MLS# 202608643
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 turnkey quadplex features four well-designed units with identical 3-bedroom, 2-bath layouts. Each unit offers a spacious living area open to a well-equipped kitchen with pantry, a primary suite with a walk-in closet and an ensuite bath, and a tub/shower combination. Washer/dryer connections are included, and each unit includes a private balcony. Interior touches include pantry and storage, supported by brick construction and a composition roof. The property is heated with natural gas and cooled with electric central air, and an oversized attached two-car garage adds storage.
Located at 5839 7th Street in Lubbock (79416), the property is in Frenship ISD and was built in 2004.
Located at 5839 7th Street in Lubbock (79416), the property is in Frenship ISD and was built in 2004.
Key Highlights
- Four‑unit quadplex with identical 3‑bedroom, 2‑bath floor plans
- Private balcony in each unit
- Washer/dryer connections in each unit
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
$44,474
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
9.08%
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%
$889,480
$889.5K
Cap Rate 7%
$635,343
$635.3K
Cap Rate 9%
$494,156
$494.2K
Market Conditions
NOI Build-Up for 4,924 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
$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 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%
$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
NOI $44,474 @ 7.0% cap · market cap 9.08%
Second Best
Apartment 5plus
$570.5K
$499.2K – $665.6K
NOI $39,933 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,895 @ 7.0% cap · market cap 17.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
340
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Quadplex in Frenship ISD with four matching 3-bedroom, 2-bath units featuring private balconies and washer/dryer connections.
Where is this quadplex located?
The property is located at 5839 7th Street 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 with identical 3‑bedroom, 2‑bath floor plans; Private balcony in each unit; Washer/dryer connections in each unit
