429 Johnson St, Longview, TX 75602

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.

This Apartment is located in the NA subdivision of Longview, Gregg County, Texas.. The home includes 0 bedrooms and 0 bathrooms with approximately of living space on a 1.03-acre lot.. Built in 1974, the residence features 2 stories, Composition roof, and exterior.. Interior specifications include Vinyl flooring, Open Floorplan, and a kitchen with and appliances: .. Climate control systems include Central, Electric heating and Central Air, Ceiling Fan(s), Electric cooling.. Exterior elements include , Fenced fencing, and Level. Parking includes 0 spaces garage with Off Street, Parking Lot.. The location provides access to nearby schools including Bramlette Elementary, Forrest Park Middle School, and Longview High School.. Listed for $1,150,000.00 and marketed by Realty Texas. For details or a showing, call 512-I-SOLD-IT (512-476-5348)..