Quadplex with Four 2-Bed
7407 Avenue X Lubbock, TX 79423
New
7407 Avenue X, Lubbock, TX, 79423
$349,000
For Sale
$349,000
Four-unit quadplex features 2-bedroom, 1-bath layouts in each unit and is currently generating $3,070/month gross rent.
Property Size3,808 SF
Price / SF$91.65
Days on Market3
Property Features for 7407 Avenue X
General Information
- Standard status
- Active
- Size
- 3,808 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1981
Listing agency
Better Homes and Gardens
(325) 436-1970
Listed by
Keenon Ward · License #0754407
Source
Raftercrossrealty
Added: Jul 20 Updated: Jul 21 at 8:06PM Checked: Jul 21 at 8:06PM
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 Better Homes and Gardens
Investment Insights
Based on property information with market context.
This quadplex includes four separate residential units, and each unit offers two bedrooms and one bathroom. The property is positioned in a quiet roundabout setting and is described as having secure entry with four solid doors. The units are noted as having steady tenants with minimal complaints.
The asset is located at 7407 Avenue X in Lubbock, Texas. Public remarks indicate market rents in the $800 to $850 per month range.
The property is currently reported to be bringing in $3,070 per month in gross rent, supported by the four-unit configuration and consistent tenant occupancy.
The asset is located at 7407 Avenue X in Lubbock, Texas. Public remarks indicate market rents in the $800 to $850 per month range.
The property is currently reported to be bringing in $3,070 per month in gross rent, supported by the four-unit configuration and consistent tenant occupancy.
Key Highlights
- South Lubbock four‑unit quadplex built in 1981
- Each unit offers a 2‑bedroom, 1‑bath layout (4 units total)
- Currently generating $3,070/month gross rent
Local Financial Insights For Apartment 5plus
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 | $59.9k | $15.72 |
| − Vacancy | −$3.7k | −$0.97 |
| EGI | $56.2k | $14.75 |
| − OpEx | −$25.3k | −$6.64 |
| NOI | $30.9k | $8.11 |
3,808 SF · lease $15.72/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$491.3K
$429.9K – $573.2K
NOI $34,394 @ 7.0% cap · market cap 9.86%
Second Best
Apartment 5plus
$441.2K
$386.0K – $514.7K
NOI $30,883 @ 7.0% cap · market cap 8.85%
Theoretical Best
Office A
$960.0K
$840.0K – $1.12M
NOI $67,201 @ 7.0% cap · market cap 19.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - Four-unit quadplex features 2-bedroom, 1-bath layouts in each unit and is currently generating $3,070/month gross rent.
Where is this quadplex located?
The property is located at 7407 Avenue X Lubbock, TX.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: South Lubbock four‑unit quadplex built in 1981; Each unit offers a 2‑bedroom, 1‑bath layout (4 units total); Currently generating $3,070/month gross rent
