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 / 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.
Property Type :
Duplex
Subdivision :
Tx
County :
Smith
Style :
Duplex
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All listings featuring the "Greater Tyler Texas Area" as the source are provided by "Greater Tyler Association of REALTORS®".. This information is not verified for authenticity or accuracy and is not guaranteed.
ByOwner last updated this listing 05/03/2024 @ 08:25
MLS: 24004151
LISTED BY: Fischer Davis, Drake Real Estate & Investments
SOURCE: GTAR - Greater Tyler Texas Association of Realtors
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.
