Brick Quadplex with Four
For Sale
$400,000
807 Avenue L, Shallowater, TX 79363
MULTI_FAMILY - Other - Shallowater, TX
Property Size3,328 SF
Lot Size0.41 Acres
Price / SF$120.19
Days on Market298
Property Features for 807 Avenue L
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Single Family
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bedroom 4, Bathroom 3, Bedroom 7, Bedroom 1, Bedroom 3, Bedroom 8, Bedroom 5, Bathroom 4, Bathroom 1, Bedroom 2, Bathroom 2
Parking features
Carport
Fencing
Fenced
Elementary school
Shallowater
Middle school
Shallowater
High school
Shallowater
Elementary school district
Shallowater ISD
Middle school district
Shallowater ISD
High school district
Shallowater ISD
Directions
GPS will take you directly to the property!
Subdivision
8
Standard status
Active
APN
R40425
Size
3,328 SF
Lot size
0.41 Acres
Taxes and HOA fees
Tax Description
Ripley Blk 25 Tr A 118 ' X 150' In Ne/4
Tax Annual Amount
4364
Legal Description
Ripley Blk 25 Tr A 118 ' X 150' In Ne/4
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1960
Floors in Building
1
Number of units
4
Building materials
Brick
Architectural style
Other
Listing Agency:
Exit Realty of Lubbock
(806) 771-3900
Listed By:
Joanna Cunningham · License #0645128
(806) 252-7801
Added: Oct 12, 2025
Changed: Aug 5
Last Checked: Aug 5 at 2:06PM
MLS# 202561687
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 brick quadplex includes four homes on one lot, with each home offering two bedrooms and one bathroom. The property has central heating and central air conditioning, plus carport parking and a fenced perimeter.
The site is 0.41 acres and has a total property size of 3,328 square feet. The homes were built in 1960, and utility service includes public water and public sewer.
Located at 807 Avenue L in Shallowater, Texas, this configuration supports multiple income-producing residences within a single ownership structure.
The site is 0.41 acres and has a total property size of 3,328 square feet. The homes were built in 1960, and utility service includes public water and public sewer.
Located at 807 Avenue L in Shallowater, Texas, this configuration supports multiple income-producing residences within a single ownership structure.
Key Highlights
- Four homes on one lot, each with two bedrooms and one bathroom
- 0.41‑acre lot
- 3,328 SF total property size
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 | $45.9k | $13.80 |
| − Vacancy | −$3.0k | −$0.90 |
| EGI | $42.9k | $12.90 |
| − OpEx | −$12.9k | −$3.87 |
| NOI | $30.1k | $9.03 |
3,328 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$429.4K
$375.7K – $501.0K
NOI $30,059 @ 7.0% cap · market cap 7.51%
Second Best
Apartment 5plus
$385.6K
$337.4K – $449.8K
NOI $26,990 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$839.0K
$734.1K – $978.8K
NOI $58,730 @ 7.0% cap · market cap 14.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
142
Businesses Nearby
Explore this area
Business Placement
Demographics for 79363, TX
6,259
Population
2,233
Households
2.8
Avg Household Size
36
Median Age
30%
College-Educated
88%
High-School Grad
108.1 sq mi
ZIP Area
58
Density / Sq Mi
$93,320
Median Household Income
$45,035
Median Earnings
$1,138
Median Rent
$201,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit brick quadplex with central heating and cooling, carports, fenced perimeter, and public water and sewer.
Where is this quadplex located?
The property is located at 807 Avenue L Shallowater, TX.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Four homes on one lot, each with two bedrooms and one bathroom; 0.41‑acre lot; 3,328 SF total property size
