Newly Built Apartment
For Sale
$5,395,000
Lionel Avenue, Texarkana, TX 75503
ResidentialIncome, Texarkana, TX
Property Size33,891 SF
Lot Size2.40 Acres
Price / SF$159.19
Days on Market101
Property Features for Lionel Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
2
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 2, Bathroom 3, Bathroom 1, Bedroom 1
Parking
66
Parking features
Driveway, Assigned
Patio and Porch features
Porch
Interior features
EatInKitchen, GraniteCounters, HighSpeedInternet, MultipleMasterSuites, OpenFloorplan, WalkInClosets
Appliances
Dryer, ElectricRange, Disposal, Microwave
Subdivision
Wright Ridge
Lot features
Acreage, Cleared, Corner Lot
Elementary school
Pleasant Grove
Middle school
Pleasant Grove
High school
Pleasant Grove
Elementary school district
Pleasant Grove ISD
Middle school district
Pleasant Grove ISD
High school district
Pleasant Grove ISD
Directions
From Highway 30, Head North on Richmond Rd. Take a right onto University Ave. Property will be at the corner of University Ave and Lionel Ave.
Standard status
Active
APN
30180003300
Size
33,891 SF
Lot size
2.40 Acres
Taxes and HOA fees
Tax Description
WRIGHTRIDGE ADDN LOTs 13, 14, 15
Tax Annual Amount
100000
Legal Description
WRIGHTRIDGE ADDN LOTs 13, 14, 15
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
2026
Floors in Building
2
Number of units
33
Flooring type
Laminate
Building materials
Brick, WoodSiding
Roof type
Shingle, Composition
Listing Agency:
Tx Land & Legacy Realty, LLC
(817) 832-4273
Listed By:
Bryson Swiggart
(601) 955-6881
Added: Jul 12
Changed: Sep 27
Last Checked: Oct 20 at 1:06PM
MLS# 20861984
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This apartment community occupies 2.4 acres and contains 33,891 square feet across a newly built residential property. Apartment interiors include open floor plans, granite counters, eat-in kitchens, multiple master suites, walk-in closets, laminate flooring, and in-unit dryers. Assigned parking, driveways, porches, central heating and cooling, and electric service are also provided. Public water and sewer serve the property, while each apartment is individually metered for water and electricity.
Located on Lionel Avenue in Texarkana, the community is within walking distance of Texas A&M University-Texarkana and within 5 minutes of shopping, restaurants, and healthcare services. The property includes 20 leased units and a reported occupancy rate of 61% as of August 7. Its residential configuration can accommodate student housing or general public occupancy.
Located on Lionel Avenue in Texarkana, the community is within walking distance of Texas A&M University-Texarkana and within 5 minutes of shopping, restaurants, and healthcare services. The property includes 20 leased units and a reported occupancy rate of 61% as of August 7. Its residential configuration can accommodate student housing or general public occupancy.
Key Highlights
- 33,891‑square‑foot apartment community on 2.4 acres
- Walking distance to Texas A&M University‑Texarkana
- 20 units leased; reported occupancy of 61% as of August 7
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$202,744
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,054,880
$4.1M
Cap Rate 7%
$2,896,343
$2.9M
Cap Rate 9%
$2,252,711
$2.3M
Market Conditions
NOI Build-Up for 33,891 SF
Gross rent
$418.9K $12.36/SF
− Vacancy
−$50.3K −$1.48/SF
EGI
$368.6K $10.88/SF
− OpEx
−$165.9K −$4.89/SF
NOI
$202.7K $5.98/SF
Area
Bowie County, TX
Vacancy
12.00%
Lease Rate
$12.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,054,880
Cap Rate 7%
$2,896,343
Cap Rate 9%
$2,252,711
Alternative Uses
Best Use
Apartment 5plus
$2.90M
$2.53M – $3.38M
NOI $202,744 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$25.53M
$22.34M – $29.78M
NOI $1,786,903 @ 7.0% cap · market cap 33.12%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
61%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Explore this area
Business Placement
Demographics for 75503, TX
25,547
Population
11,464
Households
2.2
Avg Household Size
41
Median Age
35%
College-Educated
95%
High-School Grad
78.5 sq mi
ZIP Area
325
Density / Sq Mi
$67,733
Median Household Income
$43,508
Median Earnings
$1,185
Median Rent
$214,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Near Texas A&M University-Texarkana, the property offers individually metered utilities and layouts suited to student or general residential occupancy.
Where is this apartment building located?
The property is located at Lionel Avenue Texarkana, TX.
What is the asking price?
The asking price for this property is $5,395,000.
What are key features of this property?
This property features: 33,891‑square‑foot apartment community on 2.4 acres; Walking distance to Texas A&M University‑Texarkana; 20 units leased; reported occupancy of 61% as of August 7
