USATXLongviewRollins School429 Johnson St

429 Johnson St, Longview, TX

Condo

For Sale

Listed price in listed location currency (USD).

$1,150,000

0030

MLS® 21358849

Overview

Key Facts

Type Apartment

Levels Residential Income

Size -

Garage

Maintenance Fees

Taxes

Days Active 1

Approx. Age 1974

MLS® Number 21358849

Property Address: 429 Johnson St, Longview, TX, 75602-4261

Average square foot calculated using Size range provided by listing agent.

Description

Exceptional opportunity to own a well-maintained, income-producing 24-unit apartment complex in a highly convenient South Longview location, just minutes from LeTourneau University, I-20, shopping, dining, and major employers. The property features an attractive unit mix of eight 2-bedroom, 1-bath units and sixteen 1-bedroom, 1-bath units, appealing to a broad tenant base. Twenty-three of the 24 units have been renovated, allowing a new owner to step into an improved asset with minimal remaining work. Occupancy is a major strength, with the property historically operating at or near 100% occupancy and vacancy not typically being an issue. The complex currently generates more than $59, 000 in annual profit, with additional upside potential from the recent renovations and continued operational improvements. Electricity is individually metered, with tenants responsible for their own electric service. Residents also pay $70 per month plus RUBS (Ratio Utility Billing System) toward shared utilities such as water and trash, helping keep operating expenses predictable and controlled. An on-site, pay-per-use laundry facility provides an additional income stream. The laundry building also includes bonus space on the opposite side that could be used as an on-site office, additional storage, or potentially converted into a future amenity such as a small community gym, resident lounge, or flex space. Additional highlights include ample on-site parking and two roofs that have already been replaced, reducing near-term capital expenditure concerns. With 23 renovated units, strong occupancy, multiple income streams, investor-friendly utility structures, and additional value-add potential, this South Longview multifamily asset offers an attractive combination of stability, cash flow, and long-term growth potential.

MLS® Number21358849

Locker

Ensuite Laundry

Balcony

Furnished

Laundry Level

Exposure

Exterior

Garage

Approx. Age1974

Stories

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

HeatCentral, Electric

A/CCentral Air, Ceiling Fans, Electric

Extras

Map

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