7029 40th Street Lubbock, TX 79407
MULTI_FAMILY - Other - Lubbock, TX
Property Features for 7029 40th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Property condition
- Under Construction
- Bedrooms
- 12
- Bathrooms
- 8
- Rooms
- Bedroom 4, Bedroom 12, Bathroom 3, Bathroom 5, Bedroom 10, Bedroom 2, Bedroom 1, Bathroom 7, Bedroom 8, Bedroom 9, Bedroom 5, Bathroom 6, Bathroom 2, Bathroom 1, Bathroom 4, Bedroom 6, Bedroom 3, Bedroom 7, Bathroom 8, Bedroom 11
- Parking features
- Garage
- Window features
- Double Pane Windows
- Interior features
- Bar, Ceiling Fan(s), Granite Counters, Walk-In Closet(s)
- Exterior features
- Lighting, Private Yard
- Appliances
- Dishwasher, Disposal, Electric Cooktop, Microwave
- Standard status
- Active
- APN
- R348253
- Size
- 5,300 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Description
- Frenship East L 41, 42, 43, 44
- Tax Annual Amount
- 1728
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Central
- Cooling system
- Electric, Central Air
- Water source
- Public
Building Details
- Year built
- 2026
- Number of units
- 4
- Flooring type
- Laminate
- Building materials
- Brick
- Roof type
- Composition
- Architectural style
- Other
Listing agent Melissa Brouillette License #0611734 (806) 441-2221
Listing office Aycock Realty Group, LLC 3911 98th Street, Ste 200, Lubbock, TX (806) 778-5956
Listing date Jul 7, 2026
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.
The building is located at 7029 40th Street in Lubbock, TX 79407. Public remarks note convenient proximity to Frenship Memorial High School within walking distance and Canyon West Shopping Center just minutes away, supporting everyday access to schools and nearby retail and dining options.
This offering is positioned for buyers seeking a turnkey multifamily asset with four individual townhome units. As a smaller-scale income property, it can fit investors looking to add to an existing portfolio or acquire a newly built residential income building in West Lubbock. Please contact for additional details on unit configuration and the current offering package.
Key Highlights
- Newly constructed 4‑unit townhome building (Year built: 2026)
- Brick construction with composition roof
- Central heating and central air with electric (heating) and electric cooling
Local 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 |
