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Harrison Lilly

| Harrison Lilly Realty Dallas | Harrison Lilly Realty | PLACE

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429 Johnson St , Longview, TX 75602
$1,150,000
Est. Payment: $5,920.70/mo
0 Bed
0 Bath
24 Sqft
Status: active | Days on site: 11
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VCR-C15903466 - VCR-C159091383,VCR-C159052275
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House 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.

Highlights

Listed by Kayla Riggs , Keller Williams Realty-Tyler , North Texas Real Estate Information Systems

Property Type

Multi-Family

Lot/Acreage
1.03

Year Built

1974

County

Gregg

Neighborhood

Na

School District

Longview ISD

Listing ID

21358849

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:0
  • Bathrooms:0
  • Full Bathrooms:
Air Cond:Ceiling Fan(s),Central Air,Electric
Fireplaces:
Floor:Vinyl
Other:
  • Additional:Open Floorplan

Exterior Features

Lot:Level,1 to < 3 Acres
Garage Capacity:30
Roof:Composition
Others:
  • Additional:Preowned
Parking Features:Off Street,Parking Lot
Principal Interest
$5,921
Taxes
$733

Home Price

$1,150,000

Loan Details

30 yrs
6.674%

Down Payment

20%
$230,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$5,920.70

Principal

Taxes

Principal Taxes HOA Total
Monthly $5,920.70 $733.13 $0.00 $6,653.82
Yearly $71,048.39 $8,797.50 $0.00 $79,845.89
Total $2,131,451.79 $263,925.00 $0.00 $2,395,376.79

Today's Rates

30 Year

6.67%

20 Year

6.37%

15 Year

5.93%

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Market insight data is pulled from the same city as the listing being viewed (Longview, TX).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by North Texas Real Estate Information Systems Multiple Listing Service, and is deemed reliable but not guaranteed accurate.

IDX service by Blueroof 360

Data last updated: 2026-08-24T19:21:47.893Z

© 2026 North Texas Real Estate Information Systems