About 1516 27th St
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!
Features of 1516 27th St
| MLS® # | 21320356 |
|---|---|
| Price | $120,000 |
| Bedrooms | 3 |
| Bathrooms | 2.00 |
| Full Baths | 2 |
| Acres | 0.15 |
| Year Built | 1943 |
| Type | Residential Income |
| Sub-Type | Multi Family |
| Status | Active |
Community Information
| Address | 1516 27th St |
|---|---|
| Subdivision | Belmont Place |
| City | Lubbock |
| County | Lubbock |
| State | TX |
| Zip Code | 79411 |
Amenities
| Utilities | City Sewer, City Water |
|---|---|
| Garages | Additional Parking, On Street |
| Is Waterfront | No |
| Pool On Property | No |
Interior
| Interior Features | Other |
|---|---|
| Heating | Other |
| Fireplace | No |
Exterior
| Roof | Composition |
|---|---|
| Construction | Wood |
| Foundation | Pillar/Post/Pier |
School Information
| District | Lubbock ISD |
|---|---|
| Elementary | Brown |
| Middle | Slaton |
| High | Lubbock |
Additional Information
| Flooring | Other |
|---|---|
| Net Income | $18,000 |
| Building Sqft | 744 |
| # Units | 2 |
Listing Details
| Agent | Kensey Chase |
|---|---|
| Office | Real Broker, LLC |
| Contact Info | 940-231-8775 |