Current Use by Public Records
- Apartment buildings
Property Details for 5927 Us-80
- Year built
- 2024
- Lot size
- 2.00 lot acres
- Property type
- Apartment buildings
Description
This exceptional eight-unit apartment complex, completed in 2024, presents a compelling investment opportunity. Located in Longview, Texas, on a two-acre lot along Highway 80, the property boasts a 7.53% cap rate and a current NOI of $104,698. The Class A building features two two-story structures, totaling 8,000 square feet of net rentable space, with twelve parking spaces. Each of the eight units offers 1,000 square feet of living space, including two bedrooms, one and a half bathrooms, plank flooring, granite countertops, shaker cabinets, energy-efficient appliances, and a utility room with washer/dryer connections. The property enjoys an 88% occupancy rate, with the occupancy date projected for July 17, 2024. Situated in the desirable Hallsville Independent School District, the complex benefits from its proximity to major employers, including the Dollar General Distribution Center and Gap, Inc. Customer Service Center, contributing to a strong and growing local economy. The median household income within one mile is $51,037, and the population is projected to grow by five percent over the next five years. This turnkey investment offers significant potential for additional income generation through pet fees and rent, washer/dryer rentals, and cable/internet packages. The asking price is $1,390,000, or $173,750 per unit, with a price per square foot of $173.75. The property is offered fee simple, with no ground lease. The APN is R000073308.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Longview
- County
- Harrison
- State
- Texas
- Longitude
- -94.6378
- Latitude
- 32.5061
