9-Duplex
New
For Sale
$2,600,000
8302 Raleigh Avenue, Lubbock, TX 79424
Residential Income, Lubbock, TX
Property Size24,993 SF
Lot Size1.45 Acres
Price / SF$104.03
Days on Market1
Property Features for 8302 Raleigh Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
51
Bathrooms
36
Full bathrooms
36
Rooms
Bedroom 6, Bedroom 9, Bedroom 43, Bedroom 18, Bedroom 45, Bathroom 5, Bedroom 34, Bathroom 12, Bathroom 3, Bathroom 20, Bedroom 10, Bedroom 20, Bedroom 29, Bedroom 41, Bathroom 9, Bedroom 36, Bathroom 33, Bedroom 22, Bedroom 46, Bedroom 19, Bedroom 38, Bathroom 28, Bathroom 31, Bathroom 15, Bedroom 21, Bedroom 15, Bathroom 17, Bedroom 3, Bedroom 33, Bedroom 4, Bedroom 26, Bedroom 30, Bedroom 1, Bathroom 18, Bedroom 32, Bedroom 50, Bathroom 22, Bedroom 37, Bedroom 35, Bathroom 34, Bathroom 2, Bedroom 48, Bedroom 5, Bathroom 25, Bedroom 14, Bathroom 32, Bathroom 35, Bedroom 7, Bathroom 4, Bathroom 14, Bathroom 23, Bathroom 30, Bathroom 8, Bathroom 6, Bathroom 26, Bedroom 24, Bedroom 13, Bathroom 27, Bathroom 13, Bedroom 39, Bathroom 11, Bathroom 10, Bedroom 42, Bedroom 31, Bedroom 28, Bedroom 44, Bathroom 19, Bedroom 12, Bedroom 16, Bathroom 16, Bathroom 1, Bedroom 11, Bedroom 47, Bedroom 51, Bedroom 17, Bedroom 25, Bathroom 24, Bathroom 21, Bedroom 2, Bathroom 7, Bedroom 23, Bedroom 8, Bedroom 49, Bedroom 40, Bathroom 36, Bedroom 27, Bathroom 29
Parking features
Garage
Fireplace
1
Elementary school
Whiteside
Middle school
Irons
High school
Coronado
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
7
Standard status
Active
APN
R64874
Size
24,993 SF
Lot size
1.45 Acres
Taxes and HOA fees
Tax Description
Multiple
Tax Annual Amount
4424
Legal Description
Multiple
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1994
Floors in Building
1
Building materials
Brick
Roof type
Composition
Listing Agency:
Jarrett Thornton
(806) 781-6740
Listed By:
Jarrett Thornton · License #0726551
(806) 794-7777
Added: Oct 13
Last Checked: Oct 13 at 2:06PM
MLS# 202614069
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 offering comprises nine duplexes in South Lubbock, with five on Raleigh Avenue and four on 96th Street. The portfolio totals 24,993 square feet on 1.45 acres. Brick construction, central heating and air conditioning, garage parking, and fireplaces are listed among the property features. The recorded year built is 1994.
All nine duplexes are occupied. The properties may be acquired together or divided into the Raleigh Avenue and 96th Street groups.
All nine duplexes are occupied. The properties may be acquired together or divided into the Raleigh Avenue and 96th Street groups.
Key Highlights
- Nine duplexes: five on Raleigh Avenue and four on 96th Street
- All properties are occupied
- 24,993 square feet across 1.45 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$225,739
Cap Rate
8.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,514,780
$4.5M
Cap Rate 7%
$3,224,843
$3.2M
Cap Rate 9%
$2,508,211
$2.5M
Market Conditions
NOI Build-Up for 24,993 SF
Gross rent
$344.9K $13.80/SF
− Vacancy
−$22.4K −$0.90/SF
EGI
$322.5K $12.90/SF
− OpEx
−$96.7K −$3.87/SF
NOI
$225.7K $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 Rate 5%
$4,514,780
Cap Rate 7%
$3,224,843
Cap Rate 9%
$2,508,211
Alternative Uses
Best Use
Multifamily LT 5
$3.22M
$2.82M – $3.76M
NOI $225,739 @ 7.0% cap · market cap 8.68%
Second Best
Apartment 5plus
$2.90M
$2.53M – $3.38M
NOI $202,692 @ 7.0% cap · market cap 7.80%
Theoretical Best
Office A
$6.30M
$5.51M – $7.35M
NOI $441,056 @ 7.0% cap · market cap 16.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
790
Businesses Nearby
Explore this area
Business Placement
Demographics for 79424, TX
53,479
Population
22,800
Households
2.3
Avg Household Size
38
Median Age
47%
College-Educated
95%
High-School Grad
41.6 sq mi
ZIP Area
1,286
Density / Sq Mi
$94,703
Median Household Income
$52,417
Median Earnings
$1,151
Median Rent
$279,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - The occupied properties are distributed between Raleigh Avenue and 96th Street in South Lubbock.
Where is this duplex located?
The property is located at 8302 Raleigh Avenue Lubbock, TX.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Nine duplexes: five on Raleigh Avenue and four on 96th Street; All properties are occupied; 24,993 square feet across 1.45 acres
