New Construction
Address
12036 State Highway 64, Tyler, TX
Price
$ 2,350,000
Property Attributes
- MLS#20571800
- TypeMulti-Family
- CountySMITH
- CityTyler
- Zip75704
- StyleMultiple Single Units
- Price$ 2,350,000
- Bedrooms14
- Full Bathrooms14
- Half Bathrooms0
- Lot Size1.194 Acres
Data Source:
North Texas Real Estate Info Systems (NTREIS)
Property Description
Newly renovated & constructed 14-unit multi-family investment opportunity on Hwy 64 just outside of Tyler's West Loop 323. Construction of three remaining structures expected by early Summer 2024 — already lined-up with tenants. Fantastic passive income opportunity in Tyler, TX. Close to many commercial retailers, Tyler High School, and Walmart Supercenter. The property includes 1 single family home, 3 duplexes, and 7 luxury cottages for a total of 9,936 leasable sqft. 3 cottages still under construction—May or June 2024 completion (tenants pre-approved for move-in upon completion). Annual Pro Forma Metrics: $182,923 Effective Rental Income (3% Vacancy); $129,931 NOI; 5.5% CAP. Currently 100% occupied and ready to cash flow upon construction completion. Reach out to the agent for financial documents and more unit details.
| Elementary School |
|---|
| Dixie Elementary School |
| Price History | |
|---|---|
| 3/27/2024 | Listed $2,350,000 |
General Features
| Heating | Central,Electric |
|---|---|
| Complex Name | NA |
| Cooling | Central Air,Electric |
| Utilities | Cable Available,City Sewer,City Water,Electricity Connected |
| Possession | Closing/Funding |
| Roof | Composition,Metal |
| Appliances | Electric Oven,Electric Range,Microwave,Refrigerator |
| School District | Tyler ISD |
| Capitalization Rate | 5.53 |
| Year Built | 2024 |
| Levels | One |
| Will Subdivide | No |
| Gross Annual Expenses | 62515.00 |
| Property SubType | Multiple Single Units |
| Subdivision Name | NA |
| Insurance Expense | 7500 |
| County | Smith |
| Operating Expense Includes | Insurance,Professional Management,Trash,Water/Sewer,Other |
| Property Type | Residential Income |
| Construction Materials | Brick,Siding,Wood,See Remarks |
| Year Built Details | New Construction - Incomplete |
| HOA Type | None |
| # of Buildings | 11 |
| Status | Active |
| Directions | From the intersection of West Loop 323 and St Hwy 64 in Tyler,head west on St Hwy 64. Continue for about 1.35 miles and property will be on the right. |
| City | Tyler |
| Buyer Agent Compensation | 3 |
| Elementary School Name | Dixie |
| High School | Tyler |
| Street Name | State Highway 64 |
| Elementary School | Dixie |
| Virtual Tour URL Unbranded | https://www.propertypanorama.com/instaview/ntreis/20571800 |
| Standard Status | Active |
| Buyer Agent Compensation Type | % |
Interior Features
| Interior Features | Other,Paneling |
|---|---|
| Flooring | Vinyl |
| Occupancy Rate | 100 |
| Fireplace Features | None |
| Total Units | 14 |
| Unit Count | 3 |
| Lock Box Type | None |
Exterior Features
| Fencing | Partial,Wood |
|---|---|
| Parking Features | Off Street,On Site,Paved,Varies by Unit |
| Foundation | Pillar/Post/Pier,Slab,Other |
| Lot Size Area | 1.1940 |
| Number Of Parking Spaces | 14 |
| Lot Size Units | Acres |
| Building Area Total | 9936.00 |
| Lot Size Square Feet | 52010.6400 |
| Lot Size Acres | 1.1940 |
| Patio And Porch Features | Covered,Front Porch |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 75704
Price
Visits
Year Built
© 2024 North Texas Real Estate Information Systems, Inc. All rights reserved. Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor NextHome Premier Choice shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The database information herein is provided from and copyrighted by the North Texas Real
