Thank you
Matthew Marshall
Drake Real Estate & Investment
903-205-8449
Newly renovated & constructed 14-unit multi-family investment opportunity on Hwy 64 just outside of Tyler's West Loop 323. Construction of three remaining structures expected by early Summer 2024 — already lined-up with tenants. Fantastic passive income opportunity in Tyler, TX. Close to many commercial retailers, Tyler High School, and Walmart Supercenter. The property includes 1 single family home, 3 duplexes, and 7 luxury cottages for a total of 9,936 leasable sqft. 3 cottages still under construction—May or June 2024 completion (tenants pre-approved for move-in upon completion). Annual Pro Forma Metrics: $182,923 Effective Rental Income (3% Vacancy); $129,931 NOI; 5.5% CAP. Currently 100% occupied and ready to cash flow upon construction completion. Reach out to the agent for financial documents and more unit details.
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Other,Paneling
Electric Oven,Electric Range,Microwave,Refrigerator
Cable Available,City Sewer,City Water,Electricity Connected
Central Air,Electric
Central,Electric
Fireplace Features: None
Built Year: 2024
Building Area Total: 9,936
Construction: Brick,Siding,Wood,See Remarks
Roof Type: Composition,Metal
Pillar/Post/Pier,Slab,Other
Covered,Front Porch
Partial,Wood
Brick,Siding,Wood,See Remarks
Lot Size (Acr): 1.1940
Lot Size Units: Acres
Lot Size Square Feet: 52010.6400
Property Type: Residential Income
Property Sub Type: Multiple Single Units
Subdivision: NA
City: Tyler
State: Texas
Directions: From the intersection of West Loop 323 and St Hwy 64 in Tyler, head west on St Hwy 64. Continue for about 1.35 miles and property will be on the right.
Property Status: Active
Levels: One
Property Age: 0
Year Built Details: New Construction - Incomplete
Original List Price: $2,350,000
Possession: Closing/Funding
Parcel Number: R041309
Parking: 14
Parking Features: Off Street,On Site,Paved,Varies by Unit
HOA Type: None
Elementary School: Dixie
Middle School: Boulter
High School: Tyler
School District: Tyler ISD
Utilities: Cable Available,City Sewer,City Water,Electricity Connected
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
13167 (LOT 4) Cr 420, Tyler, TX,75704 | $115,605 | -- | -- | -- | 3.671 Acres |
000 Highway 64, Tyler, TX,75704 | $990,000 | -- | -- | -- | 99 Acres |
509 Prince Place, Tyler, TX,75704 | $65,000 | -- | -- | -- | 0.206 Acre |
444 Duke Place, Tyler, TX,75704 | $65,000 | -- | -- | -- | 0.276 Acre |
454 Duke Place, Tyler, TX,75704 | $65,000 | -- | -- | -- | 0.297 Acre |
462 Duke Place, Tyler, TX,75704 | $65,000 | -- | -- | -- | 0.343 Acre |
478 Duke Place, Tyler, TX,75704 | $65,000 | -- | -- | -- | 0.38 Acre |
486 Duke Place, Tyler, TX,75704 | $65,000 | -- | -- | -- | 0.271 Acre |
503 Prince Place, Tyler, TX,75704 | $65,000 | -- | -- | -- | 0.254 Acre |
515 Prince Place, Tyler, TX,75704 | $65,000 | -- | -- | -- | 0.193 Acre |
Disclosure: Listing information provided in part by the North Texas Real Estate Information Systems, Inc, for personal, non-commercial use by viewers of this site and may not be reproduced or redistributed. All information is deemed reliable but not guaranteed. Copyright © NTREIS 2024. All rights reserved
ByOwner last updated this listing 05/03/2024 @ 02:30
MLS: 437639172
LISTED BY: Matthew Marshall, Drake Real Estate & Investment
SOURCE: NTREIS - North Texas Real Estate Information
Buyer Agency Compensation: 3%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.