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.
Details
| MLS # | 21358849 |
|---|---|
| Listing Type | For Sale |
| Style | Duplex |
| Sub-Type | Resale |
| Status | Active |
| Year | 1974 |
| Days On Site | 22 |
| Listing Provided By | Keller Williams Realty-Tyler | Kayla Riggs |
Features
| Story(s) | 2 |
|---|---|
| Units | 24 |
| Building(s) | 4 |
| Acreage | 1.03 |
Interior
| Cooling | Ceiling Fan(s), Central Air, Electric |
|---|---|
| Heating | Central, Electric |
| Interior Features | Open Floorplan |
| Appliances | Other |
Exterior
| Roof | Composition |
|---|---|
| Security Features | Fire Sprinkler System |
| Construction Materials | Brick |
| Foundation Details | Slab |
| Lot Features | Level |
Parking
| Parking Features | Off Street, Parking Lot |
|---|
Utilities
| Utilities | City Sewer, City Water, Electricity Available |
|---|
Taxes
| Tax Legal Description | LTS 1 THRU 4 BLK 11 (NCB 1361) ROLLINS SCHOOL |
|---|
Area Information
| State | TX |
|---|---|
| County | Gregg |
| City | Longview |
| Zip Code | 75602 |
| Area | Gregg |
| School District | Longview ISD |
| Elementary School | Bramlette |
| High School | Longview |
| Listing VS Median (in NA) | |
Price: $1,150,000 low | high Med: $475,000 On site: 22 low | high Med: 676 | |
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Learn More About This Property
| State | TX |
|---|---|
| County | Gregg |
| City | Longview |
| Zip Code | 75602 |
| Area | Gregg |
| School District | Longview ISD |
| Elementary School | Bramlette |
| High School | Longview |
| Listing VS Median (in NA) | |
Price: $1,150,000 low | high Med: $475,000 On site: 22 low | high Med: 676 | |
