$525,000

1510 29th Place, Lubbock, TX 79411

  • 16 beds |
  • 8 baths |
  • 6,630 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1960
  • Property Lot Size Icon0.48acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $79/sqft
  • Property List Date Icon Listed 26 days ago

Property Description

8-Unit Multifamily Investment Opportunity - Central Lubbock Excellent opportunity to acquire an 8-unit multifamily community in a centrally located Lubbock neighborhood near 34th Street & Avenue Q. Each unit features a 2-bedroom, 1-bath floor plan, making them highly desirable for tenants seeking affordable housing close to major employers and universities. Current neighborhood rents for similar units range from $750-$875 per month, presenting a strong value-add opportunity for investors. With strategic capital improvements and professional management, rents could be positioned toward the upper end of the market, creating a potential gross monthly income of approximately $7,000 when fully optimized. The property benefits from a highly convenient location just minutes from major employment and education centers, including: Only 6 minutes from Texas Tech University About 10 minutes to University Medical Center Roughly 10 minutes to the Leprino Foods Company cheese manufacturing facility This proximity supports steady rental demand from students, medical professionals, and local workforce tenants. Investment Highlights 8 total units All units: 2 bedroom / 1 bathroom Strong rental demand area Value-add potential through capital improvements Market rents: $750-$875 per unit Potential gross income:  $7,000/month Central location with quick access to major employers Whether you're looking to expand your rental portfolio or secure a value-add multifamily asset, this property offers both stable cash flow potential and upside through improved rents.

Listing Status:
Active
Date Added:
March 10, 2026
Data Last Updated:
April 4, 2026 at 10:41PM
Listing Office:
Southern Magnolia Real Estate : 806-773-4092
Listing Agent:
Tomas Rodriguez : 361-816-3661
MLS ID:
202603063
  • General: See Remarks
  • A/C: Wall/Window Unit(s)
  • Heating: Electric
  • Parking: Parking LotShared Driveway
  • Roofing: Composition
  • General: See Remarks
  • Road/Access: City Street
  • Originating MLS: Lubbock Association of REALTORS®
  • County: Lubbock
  • Zoning: ROBINSON JIM BLK 8 L 20 & 21R57890
  • Utilities: Electricity ConnectedWater Connected
  • Sewer: Public Sewer
  • Source: Lubbock Association of REALTORS®

This listing courtesy of Tomas Rodriguez , Southern Magnolia Real Estate

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

B

Bean Elementary School

3001 Avenue N, Lubbock, TX, 79411

Grades PK-5

0.08 miles away

S

Slaton Middle School

1602 32nd St, Lubbock, TX, 79411

Grades 6-8

0.17 miles away

L

Lubbock High School

2004 19th St, Lubbock, TX, 79401

Grades 9-12

0.92 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.