1510 29th Place, Lubbock, TX 79411
Lubbock County
Key Facts
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.
Property Information
Property Type
Residential Income
Sub-Type
Multi Family
Year Built
1960
Stories
1
Living Area
6,630 sq ft
Lot Size
0.48 acres
Days on Market
1
MLS® Listing#
202603063
Property Features
Interior
Appliances
Cooling
Heating
Parking
Construction
Roof
Utilities
Sewer
Schools
- Elementary:
- Bean
- Middle:
- Dunbar College Preparatory Academy
- High:
- Estacado
Financial Details
Annual Taxes
$2,760
Parcel Number
R57890
Affordability Calculator
$105,000
Estimated monthly payment
$2,794/mo
Principal $420,000 · Est. interest $585,937 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Lubbock, TX
- $281,762
- Median Listing Price
- 44
- Median Days on Market
- 1,888
- Median Sq Ft
- $137
- Median Price / Sq Ft
- 1,603
- Active Listings
- This home’s price is 86% above the area median.
- Its price per sq ft is 42% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Lubbock, TX.
Location
Points of Interest in Lubbock, TX
Showing the Lubbock area map.
Nearby Schools
Bean Elementary School
Elementary · 0.1 mi away
O.L. Slaton Middle School
Secondary · 0.2 mi away
Liberty Learning Center
School · 0.7 mi away
Lubbock Isd
School · 0.8 mi away
Homebound School
School · 0.8 mi away
South Plains Academy
Secondary · 0.8 mi away
Dupre Elementary School
Elementary · 0.8 mi away
Lubbock High School
Secondary · 0.9 mi away
Harwell Elementary School
Elementary · 1.0 mi away
Brown Elementary School
Elementary · 1.0 mi away
Christian Preschool Centers
School · 1.1 mi away
First United Methodist Church
Elementary · 1.1 mi away
Betty M Condra School for Education Innovation
Elementary · 1.3 mi away
Hodges Elementary School
Elementary · 1.4 mi away
Hutchinson Middle School
Secondary · 1.4 mi away
Ttu K-12
School · 1.4 mi away
Texas Tech Alumni Association
School · 1.5 mi away
Harmony Science Academy
School · 1.5 mi away
Roscoe Wilson Elementary School
Elementary · 1.5 mi away
Texas Tech Future International Students
School · 1.5 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| Package Property 3, Lubbock, TX | $446,000 | 15 | 10 | 5,443 |
| Package Property 2, Lubbock, TX | $460,000 | 15 | 10 | 5,340 |
| 3508 E Colgate Street, Lubbock, TX | $465,000 | 15 | 10 | 5,406 |
| PACKAGE PROPERTY, Lubbock, TX | $650,000 | 15 | 9 | — |
Moving Cost Estimate
EXIT Agents in Lubbock
Listing Courtesy: Southern Magnolia Real Estate - 8067734092
Presented by: Tomas Rodriguez
Licensed in the state of Texas.