Multifamily Investment Opportunity in
1513 N Ross Ave, Tyler, TX 75702
Multifamily property with income and growth potential in Tyler, Texas.
Type:Multifamily
Property size:
12,936 SFPrice / SF:
$104/SF- Added:
- Mar 11, 2026
- Days on Market:
- 82
- Last Refresh:
- Mar 19 at 10:44 pm
Property Features for 1513 N Ross Ave
General Information
- Standard status
- Active
- Size
- 12,936 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1975
Listing agent Hannah Tavenner License #657136
Listing office NWP Management
Listing date Mar 11, 2026
Source Crexi
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 NWP Management
HighLights
- Immediate upside potential through rental increases and lease‑up of an existing office/model unit.
- Stable in‑place monthly income of $12,995 with strong occupancy.
- Opportunity to increase monthly income to $14,240 by converting the office/model unit and raising rents to market levels.
- Operational flexibility with negotiable on‑site manager position.
- Classic brick construction, two‑story layout, ample parking, and mature trees enhance curb appeal.
- Functional floorplans with spacious living areas, full kitchens, and comfortable bedroom layouts attract consistent tenant demand.
Overview
Located in a well-established area of Tyler, Texas, this multifamily investment opportunity includes a single apartment building consisting of four addresses: 1513, 1515, 1517, and 1519 N Ross Avenue. The property offers stable in-place income with immediate upside through rental increases and lease-up of an additional unit currently utilized as an office/model. The property is currently generating $12,995 in monthly income with strong occupancy. One unit is presently used as a leasing office/model unit, creating an immediate opportunity for additional revenue. By converting this space back into a rental unit and bringing all rents to market levels, the property has the potential to achieve $14,240 in immediate monthly income, representing meaningful upside for investors. All leases are on a month to month tenancy. The building features classic brick construction and a practical two-story layout with ample parking and mature trees that provide shade and curb appeal. Units offer functional floorplans with spacious living areas, full kitchens, and comfortable bedroom layouts that continue to attract consistent tenant demand. Operationally, the property currently includes an on-site manager, which is reflected in the current NOI. This position is negotiable and provides flexibility for a new owner to maintain on-site management, transition to self-management, or implement third-party professional property management, depending on investment strategy. With stable existing income, operational flexibility, and clear rent-growth potential, this property presents an attractive opportunity for investors seeking a value-add multifamily asset in the growing Tyler market. The property size is 12936 square feet.
Local 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 | $209.6k | $16.20 |
| − Vacancy | −$10.5k | −$0.81 |
| EGI | $199.1k | $15.39 |
| − OpEx | −$89.6k | −$6.93 |
| NOI | $109.5k | $8.46 |
12,936 SF · lease $16.20/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.56M
$1.37M – $1.82M
NOI $109,497 @ 7.0% cap · market cap 8.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.89M
$2.53M – $3.37M
NOI $202,108 @ 7.0% cap · market cap 14.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Tyler
- County
- Smith
- State
- Texas
- Longitude
- -95.313206
- Latitude
- 32.365567
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Multifamily property with income and growth potential in Tyler, Texas.
Where is this apartment building located?
The property is located at 1513 N Ross Ave Tyler, TX.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Immediate upside potential through rental increases and lease‑up of an existing office/model unit.; Stable in‑place monthly income of $12,995 with strong occupancy.; Opportunity to increase monthly income to $14,240 by converting the office/model unit and raising rents to market levels.
