1608 59th St

5,472 Sq. Ft.
$88 / Sq. Ft.
5,472
Sq. Ft.
$88
per Sq. Ft.

Description

8-Unit Multifamily Investment Opportunity Excellent value-add multifamily opportunity featuring 8 apartment-style units, each offering 1 bedroom and 1 bathroom. This property provides strong cash-flow potential with room for increased rents and additional income opportunities. Current rents range from $500-$625 per month, while comparable units in the area are leasing for $700-$725 per month, creating an attractive upside for investors looking to improve revenue through modest rent adjustments and...8-Unit Multifamily Investment Opportunity Excellent value-add multifamily opportunity featuring 8 apartment-style units, each offering 1 bedroom and 1 bathroom. This property provides strong cash-flow potential with room for increased rents and additional income opportunities. Current rents range from $500-$625 per month, while comparable units in the area are leasing for $700-$725 per month, creating an attractive upside for investors looking to improve revenue through modest rent adjustments and operational improvements. Each tenant pays their own electricity, helping reduce owner expenses. Water is currently paid by the property, but a water reimbursement or utility bill-back program could be implemented to further increase net operating income. With market rent adjustments and minor operational improvements, the property has the potential to generate approximately $75,000 in annual gross rental income. Property Highlights: 8 total units 1 bedroom / 1 bathroom units Current rents: $500-$625/month Market rents: $700-$725/month Tenants pay electricity Opportunity to bill back water expenses Value-add investment with income growth potential This is an excellent opportunity for investors seeking a stable multifamily asset with significant upside in rental income.
  1. Listed by Tomas Rodriguez • TREC #0787075 • Southern Magnolia Real Estate
    P: (361)-816-3661 C: (361)-816-3661 running.trod@gmail.com

Amenities

  • Air Conditioning
  • Electric Heat
  • Fireplace
  • Laminate Floors
  • Range
  • Window AC Installed
LISTING UPDATED: 03/10/2026 07:21 PM

Property Details for 1608 59th Street

StatusActive
MLS #202603056
Days on Market20
Taxes$5,409 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Multi Family
Year Built1972
Lot Size0.27 AC / 11,872 SF
CountyLubbock County

Location

Listing Courtesy of Southern Magnolia Real Estate
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Building Information for 1608 59th Street

Stories-Residences-Year Built1972Building Size-Lot Size0.27 AC / 11,872 SF

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Property Information for 1608 59th Street

Summary
Location and General Information
  • MLS Area Major: 2
  • Latitude: 33.540909
  • Longitude: -101.853963
  • MLS Area Minor: 2
  • Unparsed First Line Address: 1608 59th Street
Taxes and HOA
  • Association Fee: $0
  • Tax Legal Description: Vandelia Village Blk 1 L 11-C
School Information
  • Elementary School: Bayless
  • High School: Monterey
  • Middle Or Junior School: Atkins
  • District High School: Lubbock ISD
Parking
  • Attached Garage: No
Property
Lot Information
  • Above Grade Finished Area: 5472.0
  • Above Grade Finished Area Source: Public Records
  • Living Area Source: Public Records
  • Lot Size Source: Public Records
  • Lot Size Square Feet: 11872.0
  • Lot Size Acres: 0.27
  • Building Area Total: 5472.0
  • Lot Size Area: 0.27
  • Lot Size Units: Acres
Property and Assessments
  • New Construction: No
  • Parcel Number: R122568
  • Property Type: Residential Income
  • Year Built: 1972
  • Property Sub Type: Multi Family
Interior and Exterior Features
Interior Features
  • Total Bathrooms Source: MLS
  • Baths Total: 8.0
  • Bathrooms Total Integer: 8
  • Bathrooms Total Decimal: 8.0
  • Bathrooms Total Notational: 8.0
  • Cooling: Yes
  • Heating: Yes
Agent
Sale and Listing
  • Sold Exclusive: No
  • Listing Number: 202603056
  • Current Price: $480,000.00
  • Property Class: MultiFamily
Showing and Remarks
  • Start Showing Date: 03-09-2026

Property History for 1608 59th Street

DateEvent & SourcePriceAppreciation
Mar 9, 2026

Listed (Active)

LARMLS #202603056

$480,000
Oct 7, 2021

Sold

LARMLS #202106160

Jun 29, 2021

Pending

LARMLS #202106160

Jun 16, 2021

Listed (Active)

LARMLS #202106160

$349,900
Sep 11, 2020

Withdrawn

LARMLS #202002579

$280,000
Mar 18, 2020

Listed (Active)

LARMLS #202002579

$280,000
Apr 20, 2018

Sold

LARMLS #201705024

Jan 22, 2018

Pending

LARMLS #201705024

Jul 3, 2017

Listed (Active)

LARMLS #201705024

$235,000
DateEvent & SourcePrice
03/09/2026

Listed (Active)

LARMLS #202603056

$480,000
10/07/2021

Sold

LARMLS #202106160

06/29/2021

Pending

LARMLS #202106160

06/16/2021

Listed (Active)

LARMLS #202106160

$349,900
09/11/2020

Withdrawn

LARMLS #202002579

$280,000
03/18/2020

Listed (Active)

LARMLS #202002579

$280,000
04/20/2018

Sold

LARMLS #201705024

01/22/2018

Pending

LARMLS #201705024

07/03/2017

Listed (Active)

LARMLS #201705024

$235,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1608 59th Street

Taxable ValueLand$8,904Additions$296,803Total$305,707
Tax Record2025$5,409 ($451 / month)
Home Facts
Total Finished SqFt5,472 SqFtAbove Grade Finished SqFt5,472 SqFtLot Size11,872 SqFtStyleMulti-Family Res (5+ Units)Year Built1972Zoning0038CountyLUBBOCKAPNR122568

Schools near 1608 59th Street

This home is within Lubbock Independent School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - PK to 5
Rating
School
Distance
Bayless Elementary School
PublicPK to 5

Atkins Middle School
Public6 to 8

Monterey High School
Public9 to 12

Brown Elementary School (PK-1)
PublicPK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Similar Sold Homes

1608 59th Street is a multi-family home for sale in Lubbock, TX 79412. This property was listed for sale on March 10, 2026 by Southern Magnolia Real Estate, it's currently listed at $480,000. It has been on the market for a total of 20 days and was last sold on October 7, 2021. This listing's school district is Lubbock Independent School District. Nearby schools include Bayless Elementary School, Atkins Middle School and Monterey High School. 1608 59th Street is a 8-bed, 8-bath, 5,472 sqft multi-family home built in 1972.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Southern Magnolia Real Estate

Based on information from one of the following Multiple Listing Services: GMAR MLS, South Texas MLS and Amarillo Association of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by GMAR MLS, South Texas MLS and Amarillo Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.