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$1,200,000
Est. payment /mo
1.03 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Building
Listing Status Active
Purchase Type For Sale
Subdivision Tx
MLS Listing ID 26001752
Lot Size 1.030 Acres
Acres 1.03
Lot Dimensions 1.03 Acres
Property Sub-Type Building
Property Description
Exceptional opportunity to own a well-maintained, income-producing 24-unit apartment complex in a highly convenient South Longview location, just minutes from LeTourneau University, I-20, shopping, dining, and major employers. This property offers a versatile unit mix of eight two-bedroom, one-bath units and sixteen one-bedroom, one-bath units, appealing to a broad tenant base that supports consistently strong performance. Twenty-three of the 24 units have been renovated, allowing a new owner to step into an already improved asset with minimal work remaining. Occupancy is a major highlight, as vacancy is not typical and normally operates 100% occupancy. Designed with investor efficiency in mind, the complex generates over $59,000 in annual profit - with room to increase with recent renovations. Electricity is individually metered, with tenants responsible for their own electric service, and residents contribute $70 per month plus RUBS (Ratio Utility Billing System) toward shared utilities such as water and trash, helping keep operating expenses predictable and controlled. An on-site, pay-for-use laundry facility provides an additional income stream, and the laundry building includes extra space on the opposite side that could serve as an on-site office, additional storage, or even a future amenity such as a small community gym or flex space. The property also features ample on-site parking and the added benefit of two roofs that have already been replaced. With recent renovations, strong occupancy history, multiple income streams, and future upside potential, this South Longview multifamily asset offers a compelling combination of stability, cash flow, and opportunity for continued value growth.
Location
State TX
County Gregg
Area Gregg
Zoning Commercial,Multi Fam Dwlling 2.5 Sto
Interior
Heating Central Electric
Exterior
View Y/N No
Building
Sewer Public Sewer
Others
Miscellaneous Fire Sprinkler System,Fenced
Acceptable Financing Conventional, Cash
Listing Terms Conventional, Cash
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Listed by Kayla Riggs • Keller Williams Realty-Tyler
Nearby School & Business
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