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Multifamily

High Street Apartments

425 S High St, Longview, TX 75601

Listing Price: $500,000

Cap Rate
5.50%
Number of Units
8
Occupancy
75.0%
Price/Unit
$62,500
Price/Gross SF
$76.50
Gross SF
6,536

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing of High Street Apartments. Built in 1950 and renovated in 2018-2019, High Street Apartments sits on 0.28 acres, and is conveniently located along South High Street in Longview, Texas. The property is within walking distance of Kilgore College-Longview Campus and Historic Downtown, and a short drive from two Regional Hospitals, The Longview Mall, and Major Employers. The 8-unit community offers affordable living in one of Texas’ fastest growing regions. High Street Apartments features flexible accommodations including 1 and 2-bedroom floor plans averaging 817 square feet. Five of the units have been fully renovated with vinyl plank flooring, new cabinetry and counters, updated bath surround, modern paint, and efficient appliances. Additional capital improvements since 2018 including roof, windows, a/c units, and exterior paint. High Street Apartments presents the opportunity to create significant value by renovating the classic units and increasing rents to market, reducing loss-to-lease, establishing a pet policy with non-refundable fees and monthly rent, and implementing a utility reimbursement system (RUBS). High Street Apartments is offered All Cash, which provides an excellent opportunity to take advantage of historically low rates.

Investment Highlights

  • Recent Capital Improvements Including Roof, A/C Units, Windows, Parking, & Paint
  • Within Walking Distance to Historic Downtown Longview & Kilgore College Campus
  • Value-Add Opportunity With Rents Below Market & Implementation of RUBS
  • Located in a Qualified Opportunity Zone

Exclusively Listed By

Multifamily

High Street Apartments

Listing Price: $500,000

Cap Rate
5.50%
Number of Units
8
Occupancy
75.0%
Price/Unit
$62,500
Price/Gross SF
$76.50
Gross SF
6,536

Investment Highlights

  • Recent Capital Improvements Including Roof, A/C Units, Windows, Parking, & Paint
  • Within Walking Distance to Historic Downtown Longview & Kilgore College Campus
  • Value-Add Opportunity With Rents Below Market & Implementation of RUBS
  • Located in a Qualified Opportunity Zone

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing of High Street Apartments. Built in 1950 and renovated in 2018-2019, High Street Apartments sits on 0.28 acres, and is conveniently located along South High Street in Longview, Texas. The property is within walking distance of Kilgore College-Longview Campus and Historic Downtown, and a short drive from two Regional Hospitals, The Longview Mall, and Major Employers. The 8-unit community offers affordable living in one of Texas’ fastest growing regions. High Street Apartments features flexible accommodations including 1 and 2-bedroom floor plans averaging 817 square feet. Five of the units have been fully renovated with vinyl plank flooring, new cabinetry and counters, updated bath surround, modern paint, and efficient appliances. Additional capital improvements since 2018 including roof, windows, a/c units, and exterior paint. High Street Apartments presents the opportunity to create significant value by renovating the classic units and increasing rents to market, reducing loss-to-lease, establishing a pet policy with non-refundable fees and monthly rent, and implementing a utility reimbursement system (RUBS). High Street Apartments is offered All Cash, which provides an excellent opportunity to take advantage of historically low rates.

Exclusively Listed By

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