535 Bonner Ave Tyler, TX 75702
- Apartment buildings
- 5,436 SF
- 0.28 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 535 Bonner Ave
- Year built
- 1968
- Lot size
- 0.28 lot acres
- Property size
- 5,436 SF
- Property type
- Apartment buildings
Description
This 7-unit apartment building presents a compelling value-add investment opportunity in Tyler, Texas. Located at 535 S Bonner Ave, 75702, this property boasts 5,436 square feet on a 0.28-acre lot. The two-story building, constructed in 1968, comprises seven units: five two-bedroom, one-bathroom units and two one-bedroom, one-bathroom units. Currently, the occupancy rate stands at 71.43%. The asking price is $550,000, translating to $101.18 per square foot and $78,571.43 per unit. The property features a private parking lot and benefits from its location on historic brick streets, offering proximity to desirable downtown Tyler. Water is paid by the landlord, while tenants are responsible for electricity and gas. This property is ideally suited for an investor seeking to capitalize on its inherent potential for increased profitability through strategic improvements and management. The property's strong location and existing unit mix provide a solid foundation for future growth and return on investment.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Tyler
- County
- Smith
- State
- Texas
- Longitude
- -95.3061
- Latitude
- 32.3439
