For single-line item data, use \stackunder{}{}. For multi-line item data, use \smash{\stackunder{}{}}.
Also shown is the use of \smash{\Longunderstack{...\\...\\...}} in the event the label gets to be longer than 2 lines.
\documentclass{article}
\usepackage[usestackEOL]{stackengine}
\usepackage{lipsum}
\begin{document}
\renewcommand\stackalignment{r}% RIGHT ALIGNED STACKS
\renewcommand\stacktype{L}% MAKE STACKS OBEY FIXED BASELINESKIP
\strutlongstacks{T}% TO GET PROPER SPACING FOR SINGLE-LINE ITEMS
\begin{itemize}
\item[\stackunder{first line}{second line}] blah blah
\item[\smash{\stackunder{first line}{second line}}] \lipsum[4]
\item[\smash{\Longunderstack{first\\second\\third}}] \lipsum[3]
\end{itemize}
\end{document}

You could add \bfseries before the stack, if you wanted it in boldface.
As Bernard notes, the title bleeds into the left margin, which is a standard behavior for itemize. The way to alleviate that is to select leftmargin that allows for the widest label:
\documentclass{article}
\usepackage[pass,showframe]{geometry}
\usepackage[usestackEOL]{stackengine}
\usepackage{lipsum,enumitem}
\begin{document}
\renewcommand\stackalignment{r}% RIGHT ALIGNED STACKS
\renewcommand\stacktype{L}% MAKE STACKS OBEY FIXED BASELINESKIP
\strutlongstacks{T}% TO GET PROPER SPACING FOR SINGLE-LINE ITEMS
\begin{itemize}[leftmargin=53pt]
\item[\stackunder{first line}{second line}] blah blah
\item[\smash{\stackunder{first line}{second line}}] \lipsum[4]
\item[\smash{\Longunderstack{first\\second\\third}}] \lipsum[3]
\end{itemize}
\end{document}
