817-271-3608
717 S Green St, Longview, TX for Sale
Apartments - FOR SALE
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717 S Green St
Longview, TX 75602


HIGHLIGHTS

  • OVER $1 MILLION OF IMPROVEMENTS
  • 22 FULLY RENOVATED UNITS ACHIEVING $100 RENT PREMIUM
  • REDUCE LOSS-TO-LEASE & INCREASE OCCUPANCY TO MARKET
  • OVER 70% TWO-BEDROOM UNITS
  • ATTRACTIVE FINANCING WITH WRAPAROUND OPTION

OVERVIEW

OFFERING LINK: https://www.marcusmillichap.com/properties/193062/evergreen-estates Marcus & Millichap is pleased to present the exclusive listing of Evergreen Estates. Built in 1967, Spring Creek sits on 4.77 acres, and is conveniently located along South Green Street in Longview, Texas. The property is one mile from Downtown, across from Timpson Recreation Park, and a short drive from two regional hospitals, Pinecrest Country Club, the Longview Mall, and major employers. The 94-unit community offers affordable living in one of Texas’ fastest-growing regions. Evergreen Estates features flexible accommodations with floor plans averaging 808 square feet. Current owner reports more than $1,000,000 in capital improvements including upgraded chiller system, roof replacements, electrical updates, stairwells, signage, flooring, appliances, paint, and landscaping. Evergreen Estates presents the opportunity to create significant value implementing utility reimbursement (RUBS), reducing of loss-to-lease, and increasing occupancy to market levels. Given the recent economic expansion and job creation with Ninth Avenue Foods, Dollar General Distribution Center and Gap, Inc. Customer Service Center, Longview is poised for strong growth and exceptional returns. Evergreen Estates is offered with Wraparound Assumption or ‘free and clear’ allowing new ownership to secure the most attractive financing available.

FOR SALE DETAILS

PRICE

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# OF UNITS

94

CAP RATE

Request Cap Rate

% LEASED

73%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Evergreen Estates

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1967

PARKING SPACES

183

LAND DETAILS

LAND ACRES

4.77 AC

LAND SF

207,781 SF

ZONING

Multi-Family Apartments

APN/PARCEL ID

33898

ASK ABOUT THIS PROPERTY

Fin ErwinMarcus & MillichapMore Info
817-271-3608

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Fin ErwinMarcus & MillichapMore Info
817-271-3608

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