Investment Overview

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.