1007 Richey Dr - Apartments FOR SALE


Gladewater, TX 75647
$895,000 USD
903-570-7366
1007 Richey Dr, Gladewater, TX for Sale
$895,000 USD
Apartments - FOR SALE
1/27
null | 7.08% Cap Rate

1007 Richey Dr
Gladewater, TX 75647


HIGHLIGHTS

  • Income-producing East Texas multifamily investment
  • New roofs and gutters installed across all seven buildings in 2025
  • Seven improved duplex parcels provide investors with flexibility for long-term ownership
  • Positioned between Tyler and Longview with convenient access to U.S. Highway 80 and Interstate 20
  • Convenient to CHRISTUS Trinity Clinic and established Gladewater retailers, services and employment centers
  • All 14 units feature 2 bedrooms, 1 bathroom and approximately 956 SF, simplifying leasing, maintenance and unit turns

OVERVIEW

Income-producing East Texas multifamily investment offering rent growth potential and a flexible parcel-level exit strategy. Eastgate Duplexes presents the opportunity to acquire a 14-unit multifamily portfolio consisting of seven single-story duplex buildings across eight separate parcels in Gladewater, Texas. The portfolio totals 13,384 SF on approximately 3.19 acres, with a uniform mix of fourteen 2-bedroom, 1-bath units averaging approximately 956 SF each. Ownership has completed significant recent improvements, including new roofs and gutters across all seven buildings in 2025, along with interior renovations and flooring improvements in select units. The portfolio offers identifiable upside through continued rent growth, with in-place rents averaging approximately $850 per month and recent leases signed at $900 and $950. The separate parcel configuration also provides investors with added flexibility to hold the portfolio as a whole or potentially sell individual duplex properties over time. PROPERTY DETAILS & HIGHLIGHTS 14-Unit Multifamily Portfolio – Seven single-story duplex buildings totaling 13,384 SF on approximately 3.19 acres Located between Tyler and Longview with convenient access to U.S. Highway 80 and Interstate 20, Eastgate Duplexes offers a manageable multifamily investment with current income, recent capital improvements, and multiple paths for future value creation.

FOR SALE DETAILS

PRICE

$895,000 USD

PRICE/SF

$67 USD /SF

# OF UNITS

14

PRICE/UNIT

$63,929

CAP RATE

7.08%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Eastgate Duplexes

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1976

PARKING SPACES

40

LAND DETAILS

LAND ACRES

3.19 AC

LAND SF

138,956 SF

ZONING

R-1

APN/PARCEL ID

63028,63029,63030,63031,63032,63033,63034,63035

ASK ABOUT THIS PROPERTY

Samuel Scarborough CCIMScarborough Commercial Real EstateMore Info
903-570-7366

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Samuel Scarborough CCIMScarborough Commercial Real EstateMore Info
903-570-7366

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.