Income-Generating Multifamily
13597 County Road 35 Tyler, TX 75706
For Sale
$1,650,000
8 rental units are currently occupied with month-to-month tenants, alongside a converted wedding venue-style home.
Property Size9,056 SF
Lot Size36.00 Acres
Price / SF$182.20
Days on Market472
Property Features for 13597 County Road 35
General Information
- Standard status
- Active
- Size
- 9,056 SF
- Lot size
- 36.00 Acres
- Property subtype
- Multi-Family / Multiple Single Units
Building Details
- Year Built
- 2021
Listing Agency:
Taylor Realty Associates - DFW
(972) 365-1140
Listed By:
Debbie Yeats · License #0602812
(972) 365-1140
Source:
Compass
Added: Apr 9, 2025
Changed: Jul 22
Last Checked: Jul 23 at 9:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Taylor Realty Associates - DFW
Investment Insights
Based on property information with market context.
This income-producing multifamily property includes a primary home plus eight rental units, all currently occupied by long-term tenants. The main residence was built in 2017 as a wedding venue and converted into a home in 2022, with exterior metal siding and a metal roof designed for low maintenance. The fenced backyard includes new composite decking, a hot tub, and a built-in catio, with a view of the pond. Inside, the home features an open floor plan with 20-foot ceilings in the main living area, a galley kitchen with a walk-in pantry, and a separate laundry room and office. The kitchen includes a double-door commercial refrigerator and a 500-lb ice machine. Additional space outside offers possibilities to convert into a greenhouse, storage, or a sitting area.
Management pays for water, lawn maintenance, trash service, and septic maintenance as part of the monthly rent. Tenants are currently month-to-month with no lease agreements in place.
The rental portion includes an on-site laundry room with coin-operated washing machines. The buyer may pursue value-add by adjusting rents and/or putting lease agreements in place, and there is an option to separate electric meters so tenants pay their own electric or to consider solar panels. The property is located in Tyler, East Texas, with an Amazon distribution center totaling 140,000 square feet noted as completed, and a 70-acre planned development described as about 10 minutes away. Seller will consider dividing the land only portion; see MLS 21000883.
Management pays for water, lawn maintenance, trash service, and septic maintenance as part of the monthly rent. Tenants are currently month-to-month with no lease agreements in place.
The rental portion includes an on-site laundry room with coin-operated washing machines. The buyer may pursue value-add by adjusting rents and/or putting lease agreements in place, and there is an option to separate electric meters so tenants pay their own electric or to consider solar panels. The property is located in Tyler, East Texas, with an Amazon distribution center totaling 140,000 square feet noted as completed, and a 70-acre planned development described as about 10 minutes away. Seller will consider dividing the land only portion; see MLS 21000883.
Key Highlights
- 36‑acre income‑producing property with 8 rental units currently occupied by long‑term tenants
- Rental units have month‑to‑month tenants with no lease agreements currently in place
- Management pays water, lawn maintenance, trash service, and septic maintenance included in the monthly rent
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $146.7k | $16.20 |
| − Vacancy | −$7.3k | −$0.81 |
| EGI | $139.4k | $15.39 |
| − OpEx | −$62.7k | −$6.93 |
| NOI | $76.7k | $8.46 |
9,056 SF · lease $16.20/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$958.2K – $1.28M
NOI $76,655 @ 7.0% cap · market cap 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,488 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
The Venue at Hitts Creek
Housing Complex
FAQs
What type of property is this?
Apartment building - 8 rental units are currently occupied with month-to-month tenants, alongside a converted wedding venue-style home.
Where is this apartment building located?
The property is located at 13597 County Road 35 Tyler, TX.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 36‑acre income‑producing property with 8 rental units currently occupied by long‑term tenants; Rental units have month‑to‑month tenants with no lease agreements currently in place; Management pays water, lawn maintenance, trash service, and septic maintenance included in the monthly rent
