12036 State Highway 64

Tyler, TX 75704

$2,350,000
Price
Beds
9,936 Sq. Ft.
$237 / Sq. Ft.
9,936
Sq. Ft.
$237
per Sq. Ft.

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...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.
  1. Listed by Matthew Marshall • TREC #0544812 • Drake Real Estate & Investment • 903-581-3737

Property Details for 12036 State Highway 64

Subdivision Name
NA
Pool
No
Number Of Parking Spaces
14

Location

Listing Courtesy of Drake Real Estate & Investment, Matthew Marshall
Add your commute
LISTING UPDATED: 03/27/2024 10:10 PM

Property Details for 12036 State Highway 64

StatusActive
MLS #20571800
Days on Market67
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass Type-
MLS Type-
Year Built2024
Lot Size1.19 AC / 52,010 SF
CountySmith County

Location

Listing Courtesy of Drake Real Estate & Investment, Matthew Marshall
Add your commute

Building Information for 12036 State Highway 64

Stories1Residences14Year Built2024Lot Size1.19 AC / 52,010 SF

Payment Calculator

$13,380 per month

30 year fixed, 7.25% Interest

Principal and Interest

$12,825

Property Taxes

$555

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 12036 State Highway 64

Summary
Location and General Information
  • Complex Name: NA
  • 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.
  • Elementary School: Dixie
  • Elementary School Name: Dixie
  • High School: Tyler
  • High School Name: Tyler
  • Middle School: Boulter
  • Year Built Details: New Construction - Incomplete
  • School District: Tyler ISD
  • Geocode Confidence: Medium
  • Latitude: 32.36
  • Longitude: -95.37
  • State: Texas
Parking
  • Parking Features: Off Street, On Site, Paved, Varies by Unit
  • Garage: No
Taxes and HOA Information
  • Association Type: None
Virtual Tour
Interior and Exterior Features
Interior Features
  • Fireplace Features: None
  • Flooring: Vinyl
  • Heating: Central, Electric
  • Interior Features: Other, Paneling
  • Appliances: Electric Oven, Electric Range, Microwave, Refrigerator
  • Cooling: Central Air, Electric
  • Smart Home Features Appor Pass Y: No
Exterior Features
  • Building Area Source: Owner
  • Construction Materials: Brick, Siding, Wood, See Remarks
  • Fencing: Partial, Wood
  • Foundation Details: Pillar/Post/Pier, Slab, Other
  • Number Of Stories: 1
  • Roof: Composition, Metal
  • Number Of Units Total: 14
  • Patio And Porch Features: Covered, Front Porch
  • Levels: One
Property
Utilities
  • Utilities: Cable Available, City Sewer, City Water, Electricity Connected
Property and Assessments
  • Handicap: No
  • Loan Type: Treat As Clear
  • Property Match: APN
Lot Information
  • Lot Size Acres: 1.194
  • Lot Size Area: 1.194
  • Lot Size Units: Acres
  • Lot Size Square Feet: 52010.64
  • Multi Parcel ID: No
  • Parcel Number: R041309
Multi Family
Multi-Family Information
  • Number Of Buildings: 11
  • Capitalization Rate: 5.53%
  • Gross Annual Expenses: $62,515
  • Gross Annual Income: $182,923
  • Insurance Expense: $7,500
  • Total Annual Expenses Include: Insurance, Professional Management, Trash, Water/Sewer, Other
  • Net Operation Income: $129,931.00
Unit 1
  • Approximate SQFT: 1176.0
  • Average Lease Amount: $1,250.00
  • Living Area Length: 1.0
  • Living Area Width: 1.0
  • Unit Type Type: 2 Bedroom
  • Unit Type Units Total: 1
Unit 2
  • Approximate SQFT: 900.0
  • Average Lease Amount: $1,250.00
  • Living Area Length: 1.0
  • Living Area Width: 1.0
  • Unit Type Type: 2 Bedroom
  • Unit Type Units Total: 6
Unit 3
  • Approximate SQFT: 480.0
  • Average Lease Amount: $995.00
  • Living Area Length: 1.0
  • Living Area Width: 1.0
  • Unit Type Type: 1 Bedroom
  • Unit Type Units Total: 7

Property History for 12036 State Highway 64

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 12036 State Highway 64

Taxable ValueLand$21,491Additions$404,971Total$426,462
Tax Record2023$6,665 ($555 / month)
Home Facts
Beds0Baths1Total Finished SqFt1,104 SqFtAbove Grade Finished SqFt1,104 SqFtStories1Lot Size52,011 SqFtStyleSingle Family ResidenceYear Built1940CountySMITHAPN1-00000-0026-00-012020

Schools near 12036 State Highway 64

This home is within Tyler Independent School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - PK to 12
Rating
School
Distance
Dixie Elementary School
PublicPK to 5

Boulter Middle School
Public6 to 8

Tyler High School
Public9 to 12

Wayne D Boshears Center For Except
PublicPK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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12036 State Highway 64 is for sale in Tyler, TX 75704. This property was listed for sale on March 27, 2024 by Drake Real Estate & Investment, it's currently listed at $2,350,000. This listing's school district is Tyler Independent School District. Nearby schools include Dixie Elementary School, Boulter Middle School and Tyler High School. 12036 State Highway 64 is a 0-bed, 0-bath, 9,936 sqft built in 2024.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Drake Real Estate & Investment, Matthew Marshall

The information being provided by North Texas Real Estate Information Systems (NTREIS) and Greater Tyler Association of REALTORS is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing. This website may reference real estate listing(s) held by a brokerage firm other than Compass. Any information relating to real estate for sale in Dallas, Texas comes from NTREIS. Listings marked with an icon are provided courtesy of the NTREIS Internet Data Exchange database. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be verified through personal inspection by and/or with appropriate professionals.The data contained herein is copyrighted by NTREIS and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2024 North Texas Real Estate Information Systems. All rights reserved. Date last updated: 03/27/2024 10:10 PM