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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.
| DAYS ON MARKET | 44 | LAST UPDATED | 3/25/2024 |
|---|---|---|---|
| TRACT | NA | YEAR BUILT | 2024 |
| COUNTY | Smith | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| Elementary School | Dixie |
|---|---|
| Jr. High School | Boulter |
| High School | Tyler High |
| ADDITIONAL DETAILS | |
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Electric Oven, Electric Range, Microwave, Refrigerator |
| CONSTRUCTION | Brick, Wood Siding |
| HEAT | Central, Electric |
| LOT | 1.194 acre(s) |
| PARKING | Concrete, Gravel |
| SEWER | Public Sewer |
| STORIES | 1 |
| SUBDIVISION | NA |
| WATER | Public |
| ZONING | Single Family |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listed with Fischer Davis, Drake Real Estate & Investments
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