12036 State Highway 64, Tyler, Texas 75704

$2,350,000
List Price
$2,350,000
MLS#
20571800
Status
ACTIVE
Type
Multifamily
Year Built
2024
Acres
1.19
County
Smith
City
Tyler
Subdivision
NA
Building Name
NA

Property Description

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.

Additional Information

HOA
No HOA
Annual Insurance
7500
Total Annual Expenses
Insurance, Professional Management, Trash, Water/Sewer, Other
Gross Annual Expenses
62515
Gross Annual Income
182923
Lot Size
52,010
Subdivided
No
Interior Features
Other, Paneling
Flooring
Vinyl
Foundation
Pillar/Post/Pier, Slab, Other
Roof
Composition, Metal
Stories
1
Fireplace Type
None
Street Utilities
Cable Available, City Sewer, City Water, Electricity Connected
Heating Cooling
Central, Electric
Construction Material
Brick, Siding, Wood, See Remarks
Parking Garage
Off Street, On Site, Paved, Varies by Unit
Total Num Parking
14
School District
Tyler Isd
Elementary School
Dixie
Middle School
Boulter
High School
Tyler
Building Sq. Ft.
9936
Number of bldgs.
11
Number of units
14
Occupancy Rate
100
Possession
Closing/Funding
Cap Rate
5.53

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Matthew Marshall from Drake Real Estate & Investment. Contact: 903-581-3737