7-Unit Residential Investment — Longview, TX - Seller Financing Available with $20K Down Rare opportunity to acquire a 7-unit income-producing residential property near LeTourneau University. The property consists of approximately 3,357 SF of combined living area across multiple structures on a mature 0.23-acre lot, with a mix of 1BD,1BA… Read More and 2BD,1BA units. Investment Highlights - 7 total residential units - Approximately $64,800 in scheduled annual gross rent at current rental rates - Approximately 85% current occupancy - Approximately $38,800 estimated NOI based on current rents and reported operating expenses - $250,000 asking price — approximately $35,714 per unit. Off-street driveway access serving the property. City of Longview water, sewer, electric and gas Convenient location near the S. Green St. to S. Mobberly Ave. corridors Zoning and Use Disclosure Property is currently zoned SF-5. The property has historically been used as multiple residential units. This existing use may not conform to the property's current SF-5 zoning designation, and Seller makes no representation as to whether the property qualifies for legal nonconforming (grandfathered) status. Property is being offered AS-IS. Buyer to independently verify with the City of Longview all matters concerning zoning, existing or nonconforming use status, licensing, occupancy, and continued operation before relying on this information. Transition Assistance Seller is willing to provide up to 60 days of post-closing transition assistance to facilitate tenant and rent-collection continuity and operational handoff. Showings To minimize disruption to tenants, initial showings are limited to the exterior and one designated vacant unit. Access to occupied units will be provided following an accepted purchase contract, subject to appropriate notice. Buyer to independently verify all information, including zoning, use status, income, and expenses. Read Less
Courtesy of United Real Estate Frisco, Yaw Asante.
Listing Snapshot
Days Online
19
Last Updated
Property Type
Apartment
Beds
8
Full Baths
7
Lot Size
0.23 Acres
Year Built
1943
MLS Number
21352674
Additional Details
Property Access
Road surface type: Asphalt
Appliances & Equipment
ElectricOven, GasOven, Microwave, Refrigerator
Building
Built in 1943, Construction materials: Brick, Levels: Two, 7 buildings, 2, Toal building area: 3357
Cooling
CeilingFans, WindowUnits
Expenses
Insurance: $1,500
Floors
Laminate, Linoleum, Tile
Heating
NaturalGas, SpaceHeater
Income
Gross income: $64,800, Net operating income: $41,398
Interior Features
Pantry, WalkInClosets
Lot
0.23 acres, 10,019 sqft, Acreage
Parking
10 total parkings, Driveway, OffStreet, ParkingLot
