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$1,150,000
Est. payment /mo
1.03 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Building
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26011262
Construction Status Pre-owned
Year Built 1974
Tax Year 2025
Lot Size 1.030 Acres
Acres 1.03
Property Sub-Type Building
Source Greater Tyler Association of REALTORS
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. The property features an attractive unit mix of eight 2-bedroom/1-bath units and sixteen 1-bedroom/1-bath units, appealing to a broad tenant base. Twenty-three of the 24 units have been renovated, allowing a new owner to step into an improved asset with minimal remaining work. Occupancy is a major strength, with the property historically operating at or near 100% occupancy and vacancy not typically being an issue. The complex currently generates more than $59,000 in annual profit, with additional upside potential from the recent renovations and continued operational improvements. Electricity is individually metered, with tenants responsible for their own electric service. Residents also pay $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-per-use laundry facility provides an additional income stream. The laundry building also includes bonus space on the opposite side that could be used as an on-site office, additional storage, or potentially converted into a future amenity such as a small community gym, resident lounge, or flex space. Additional highlights include ample on-site parking and two roofs that have already been replaced, reducing near-term capital expenditure concerns. With 23 renovated units, strong occupancy, multiple income streams, investor-friendly utility structures, and additional value-add potential, this South Longview multifamily asset offers an attractive combination of stability, cash flow, and long-term growth potential.
Location
State TX
County Gregg
Interior
Heating Central
Furnishings Pre-owned
Exterior
Fence Fenced
Utilities Available Separate Electric Meter, Natural Gas Not Available
Road Frontage City Street
Building
Lot Description Inside City Limits
Sewer Public Sewer
Water Public
Construction Status Pre-owned
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by Kayla Riggs Keller Williams Realty-Tyler
Nearby School & Business
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