New 4-Unit Townhome
7029 40th St Lubbock, TX 79407
New
For Sale
$796,000
Newly constructed Class A 4-unit townhome building with modern finishes, built for low-maintenance, long-term ownership.
Property Size5,300 SF
Price / SF$150.19
Days on Market4
Property Features for 7029 40th St
General Information
- Standard status
- Active
- Size
- 5,300 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 2026
Listing Agency:
Aycock Realty Group, LLC
(806) 441-2221
Listed By:
Melissa Brouillette · License #0611734
Source:
Raftercrossrealty
Added: Jul 21
Changed: Jul 22
Last Checked: Jul 23 at 5:19AM
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 Aycock Realty Group, LLC
Investment Insights
Based on property information with market context.
This newly constructed 4-unit townhome building offers Class A quality and modern interior finishes designed for long-term, low-maintenance ownership. The property is presented as a turnkey multifamily asset in a townhome format, providing an appealing combination of updated construction and curb appeal.
The building is located in West Lubbock, within walking distance of Frenship Memorial High School and just minutes from Canyon West Shopping Center. That proximity to both school and retail supports convenient everyday access for residents.
As a four-unit townhome property, it provides straightforward multifamily structure with a consistent, modern design across the building, positioned for buyers seeking a newly built income property.
The building is located in West Lubbock, within walking distance of Frenship Memorial High School and just minutes from Canyon West Shopping Center. That proximity to both school and retail supports convenient everyday access for residents.
As a four-unit townhome property, it provides straightforward multifamily structure with a consistent, modern design across the building, positioned for buyers seeking a newly built income property.
Key Highlights
- Newly constructed 4‑unit townhome building (Year built: 2026)
- Class A townhomes with modern design and interior finishes
- Walking distance to Frenship Memorial High School
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $73.1k | $13.80 |
| − Vacancy | −$4.8k | −$0.90 |
| EGI | $68.4k | $12.90 |
| − OpEx | −$20.5k | −$3.87 |
| NOI | $47.9k | $9.03 |
5,300 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$683.9K
$598.4K – $797.8K
NOI $47,870 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$614.0K
$537.3K – $716.4K
NOI $42,983 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,530 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Newly constructed Class A 4-unit townhome building with modern finishes, built for low-maintenance, long-term ownership.
Where is this quadplex located?
The property is located at 7029 40th St Lubbock, TX.
What is the asking price?
The asking price for this property is $796,000.
What are key features of this property?
This property features: Newly constructed 4‑unit townhome building (Year built: 2026); Class A townhomes with modern design and interior finishes; Walking distance to Frenship Memorial High School
