429 Johnson St - Apartments FOR SALE


Longview, TX 75602
$1,250,000 USD
903-534-6600
429 Johnson St, Longview, TX for Sale
$1,250,000 USD
Apartments - FOR SALE
1/26
null | Request Cap Rate

429 Johnson St
Longview, TX 75602


OVERVIEW

Exceptional opportunity to own a well-maintained, income-producing 24-unit apartment complex in a highly convenient South Longview location, just minutes from LeTourneau University, I-20, shopping, dining, and major employers. This property offers a versatile unit mix of eight two-bedroom, one-bath units and sixteen one-bedroom, one-bath units, appealing to a broad tenant base that supports consistently strong performance. Nearly every unit has been renovated, allowing a new owner to step into an already improved asset with minimal work remaining. Occupancy is a major highlight, as vacancy is not typical and normally operates 100% occupancy. Designed with investor efficiency in mind, the complex generates over $59,000 in annual profit - with room to increase with recent renovations. Electricity is individually metered, with tenants responsible for their own electric service, and residents contribute $70 per month plus RUBS (Ratio Utility Billing System) toward shared utilities such as water and trash, helping keep operating expenses predictable and controlled. An on-site, pay-for-use laundry facility provides an additional income stream, and the laundry building includes extra space on the opposite side that could serve as an on-site office, additional storage, or even a future amenity such as a small community gym or flex space. The property also features ample on-site parking and the added benefit of two roofs that have already been replaced. With recent renovations, strong occupancy history, multiple income streams, and future upside potential, this South Longview multifamily asset offers a compelling combination of stability, cash flow, and opportunity for continued value growth.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$62 USD /SF

# OF UNITS

24

PRICE/UNIT

$52,083

CAP RATE

Request Cap Rate

% LEASED

87%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Park Place Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1974

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.03 AC

LAND SF

44,867 SF

ZONING

MF

APN/PARCEL ID

60800000110010002

ASK ABOUT THIS PROPERTY

Kayla RiggsKeller Williams Realty-TylerMore Info
903-534-6600

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Kayla RiggsKeller Williams Realty-TylerMore Info
903-534-6600

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