Excellent investment opportunity with immediate income potential! This property features a tenant-occupied 2-bedroom, 1-bath main home currently leased at $700 per month, plus a fully renovated 1-bedroom, 1-bath detached ADU completed in 2025. The ADU was previously leased for $830 per month and is now vacant, offering the flexibility to place a new tenant at market rates or use the space for extended family, guests, or a home office (buyer to verify permitted uses).
The recent renovation of the ADU provides a fresh, move-in-ready space, while the established rental in the main home offers immediate cash flow. Conveniently located near Texas Tech University, downtown Lubbock, medical facilities, shopping, and dining, this versatile property is ideal for investors looking to expand their portfolio or buyers seeking a home with additional income potential.
Don't miss this opportunity to own a property with two separate living spaces and strong rental possibilities!
Property Details
- Interior
- Other
- Cooling
- 1
- Heating
- Other
- Cooling Features
- Window Units
- Bedrooms
- 3
- Bathrooms
- 2.0
- Full Baths
- 2
- Acres
- 0.154
- Lot Size (sqft)
- 6694.0
- Parking Features
- Additional Parking, On Street
- Parking Spaces
- 0.0
- Property Type
- Multi-Family
- Year Built
- 1943
- Foundation
- Pillar Post Pier
- Roof
- Composition
- Sewer Information
- Public Sewer
- Utility Source
- Public
- Utility Features
- Sewer Available, Water Available
- Subdivision
- Belmont Place
- School District
- Lubbock ISD
- Elementary School
- Brown
- Middle School
- Slaton
- High School
- Lubbock
- County
- Lubbock
- Region
- Lubbock
- Days on Market (Cumulative)
- 72
- MLS #
- 21320356
- Property Subtype
- ResidentialIncome
- Parcel Number
- 0000
- MLS #
- 21320356
- Address
- 1516 27th st
Location
Legal
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Provided By
Listed by Kensey Chase (#0749269)
Listing Office: Real Broker, LLC (#REAY01)
