Renovated 6-Unit Apartment
For Sale
$685,000
420 South Chilton Avenue, Tyler, TX 75702
Fully occupied multifamily property near Downtown Tyler with updated interiors, covered parking, and resident laundry facilities.
Property Size5,566 SF
Price / SF$123.07
Days on Market160
Property Features for 420 South Chilton Avenue
General Information
Standard status
Active
Size
5,566 SF
Total Parking Spaces
6
Property subtype
Multi Family
Zoning
Multi Fam Dwelling 2 ½ St
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
6
Additional Details
Gross Income
$76,916
Road Access
Yes
Amenities
coin-operated laundry
Central Electric
Central Gas
Slab
Brick Veneer
Building Details
Year Built
1940
Buildings
1
Units
6
Construction
brick
Listing Agency:
P&I Real Estate Management
(903) 597-1800
Listed By:
Cole Ihrig · License #0687179
Source:
Compass
Added: Mar 26
Changed: Aug 31
Last Checked: Aug 29 at 1:43PM
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 P&I Real Estate Management
Investment Insights
Based on property information with market context.
Built in 1940, this 5,566-square-foot apartment property contains six units and has undergone interior renovation. The unit mix includes four 2-bedroom, 1-bath residences and two 1-bedroom, 1-bath residences. Interiors feature luxury vinyl plank flooring, kitchens equipped with refrigerators, oven/ranges, dishwashers, and walk-in pantries, plus generous closet storage in the 2-bedroom units. Central electric and central gas serve the building, which has a brick veneer exterior and slab construction.
The property is located at 420 South Chilton Avenue in Tyler, within walking distance of Downtown Tyler. Six covered parking spaces sit behind the building. A secured shared entry serves the four 2-bedroom units, while separate rear exits provide additional access. Brand-new coin-operated laundry equipment is included. The property is fully occupied, with tenants paying their own electric and contributing monthly toward landlord-paid water and gas. Zoning is Multi Fam Dwelling 2 ½ St.
The property is located at 420 South Chilton Avenue in Tyler, within walking distance of Downtown Tyler. Six covered parking spaces sit behind the building. A secured shared entry serves the four 2-bedroom units, while separate rear exits provide additional access. Brand-new coin-operated laundry equipment is included. The property is fully occupied, with tenants paying their own electric and contributing monthly toward landlord-paid water and gas. Zoning is Multi Fam Dwelling 2 ½ St.
Key Highlights
- Six‑unit apartment building with four 2BR/1BA units and two 1BR/1BA units
- 5,566 SF building on 420 South Chilton Avenue in Tyler, TX 75702
- Fully occupied property within walking distance of Downtown Tyler
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$47,113
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$942,260
$942.3K
Cap Rate 7%
$673,043
$673.0K
Cap Rate 9%
$523,478
$523.5K
Market Conditions
NOI Build-Up for 5,566 SF
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.
Gross rent
$90.2K $16.20/SF
− Vacancy
−$4.5K −$0.81/SF
EGI
$85.7K $15.39/SF
− OpEx
−$38.5K −$6.93/SF
NOI
$47.1K $8.46/SF
Area
Tyler, TX
Vacancy
5.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$942,260
Cap Rate 7%
$673,043
Cap Rate 9%
$523,478
Alternative Uses
Best Use
Apartment 5plus
$673.0K
$588.9K – $785.2K
NOI $47,113 @ 7.0% cap · market cap 6.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,962 @ 7.0% cap · market cap 12.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,326
Businesses Nearby
Explore this area
Business Placement
Demographics for 75702, TX
26,777
Population
10,273
Households
2.6
Avg Household Size
32
Median Age
8%
College-Educated
72%
High-School Grad
14.1 sq mi
ZIP Area
1,899
Density / Sq Mi
$51,177
Median Household Income
$30,399
Median Earnings
$906
Median Rent
$99,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property near Downtown Tyler with updated interiors, covered parking, and resident laundry facilities.
Where is this apartment building located?
The property is located at 420 South Chilton Avenue Tyler, TX.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Six‑unit apartment building with four 2BR/1BA units and two 1BR/1BA units; 5,566 SF building on 420 South Chilton Avenue in Tyler, TX 75702; Fully occupied property within walking distance of Downtown Tyler
