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501 Harris Street, Kilgore, TX 75662

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For Sale

$650,000

0.14 acres

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • 0.1 acres
    Lot size

  • 41-50 Years Old
    Age

Explore this Property

OM, rent roll and profit and loss statement are available, please reach out to David Tello. List Price: $650,000. 501 Harris St consists of 8 units averaging 787 square feet. This log cabin-style property offers one and two-bedroom floorplans. There are six 1-bedroom 1-bath units with 720 SF and two 2-bedroom 1.5-bathrooms with 986 SF. The property is currently 100% occupied. Effective rent growth has risen aggressively for the Longview area at 14.6% year-over-year over the last 3 years (CoStar). Same owner since 1993. CapEx -All exteriors were painted in 2023. -Three units (A, D, & E) have been renovated with wood-style flooring, new two-toned paint, ceiling fans, and new black appliances. Value-Add: -Five remaining classic units should be renovated to increase rents. -With light interior renovations estimated at $3K each, the new owner could raise the rents by $100 per unit per month.
MLS# 20670222

Courtesy Of The Multifamily Group, Listed By Jonathan Krebbs

(972) 379-9843

Property Features

  • Age
    41-50 Years Old
  • Amenities
    Dock
  • Appliances
    Refrigerator
  • Architecture Style
    Other
  • Exterior Type
    Log
  • Floor Covering
    Carpet, Vinyl
  • Heating System
    Central Furnace
  • Lot Size
    0.14 Acres

Map and Directions

Directions to 501 Harris Street, Kilgore, TX 75662

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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