7-Unit Multifamily in Longview, TX
TX · listed Oct 24, 2026 (4 days)
- $/unit
- $32,143
- ▼ 65% vs TX · 4th pct
- Cap rate
- —
- Gross yield
- 27.9%
- Units
- 7
Financials
- Asking price
- $225,000
- Price per unit
- $32,143
- Price per sq ft
- Not stated
- Gross rent / year
- $62,700
- Net operating income
- Not stated
- NOI per unit
- Not stated
- Cap rate
- Not stated
- Gross yield
- 27.9%gross rent ÷ price
- Occupancy
- 100%
As stated by the seller. Verify during due diligence.
Building
- Units
- 7
- Unit mix
- Not stated
- Buildings
- Not stated
- Year built
- Not stated
- Building size
- Not stated
- Avg unit size
- Not stated
- Lot size
- Not stated
- Condition
- Value-add
Deal terms
- Owner financing
- Available
Listing
- Listed
- Oct 24, 2026
- Days on market
- 4 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- City only
- Listing #
- 1382
About this property
💰 LONGVIEW, TX 7-UNIT | THE SELLER IS THE BANK | ABOUT $34K IN
$5,225 a month in rent. $1,225 a month note. Fully leased.
✅ 100% leased. $5,225 collected in September and $5,225 in October, 100% both months.
✅ $55,025 collected in the last 12 months, about $4,585 a month.
✅ Rent covers the note almost 4 times.
✅ Self-managed: about $2,400 a month cash flow with all 7 paying, after the note and every bill, liability insurance included. About $1,800 a month on the last 12 months' collections. Your $34K back in about 14 to 19 months.
✅ $225K, $32K a door. Seller carries $210K at 5.75% fixed, 30-yr amortization, 10-yr balloon. No bank. No personal guarantee.
✅ Five of the seven leases were signed this August and September.
Ideal for a local Texas operator already running small multifamily, Class C, older buildings with deferred maintenance, who can handle zoning issues.
⚠️ WHY IT'S PRICED THIS WAY (disclosed up front)
- 1943 pier-and-beam, sold as-is. Zoned single-family, run as 7 units for 11+ years. The City's letter calls it illegal non-conforming: no bank refi, no rebuild as 7 after a casualty.
- Open City repair cases; the seller expects to close them all by October 27. The seller reports foundation work under three units.
🛡️ HOW YOU'RE PROTECTED
- Non-recourse seller note. No personal guarantee.
- The seller approves you before any earnest money. You walk all 7 units with your contractor first, and he pays half the inspection.
- Liability-only insurance accepted, about $95 a month.
- Pre-closing City fines stay with the seller. Disclosed conditions are not a default.
- Year 10: if the balloon can't be fully refinanced, the seller carries the rest in 2nd position for 5 more years.
💪 THE UPSIDE
- Leases in place total $5,225 a month, $62,700 a year. Keep the units filled and cash flow runs about $2,400 a month.
- Breaks even at a little over half the rent collected.
- About $2,700 of principal paydown in year one, $35,000 over 10 years.
- The seller self-managed it for 11 years, is retiring and travels a lot. Motivated and flexible, and he'll work with the right operator.
📞 CALL ME ANYTIME:
Tell me how many doors you have, where in Texas, and when you can walk it. Closing on or before November 6.
Jenia Simonova | Gray Whale Holdings
📞
We are marketing our equitable interest under a purchase contract, not the property itself. Buyer to perform own due diligence.
Location
Somewhere in Longview. The exact address is shared on request.
Similar buildings nearby
| Property | Price | $/unit$/unit vs median | Cap |
|---|---|---|---|
| Longview, TX NewSubject-toHigh yield | $225K | $32K$32K | 27.9%gy |
| Longview, TX NewOwner financingHigh yield | $225K | $32K$32K | 27.9%gy |
| Longview, TX NewOwner financingStabilized | $210K | $30K$30K | — |
| Longview, TX NewOwner financingHigh yield | $225K | $32K$32K | 27.9%gy |
| Longview, TX Owner financingHigh yieldStabilized | $225K | $32K$32K | 28%gy |
| Longview, TX NewOwner financingHigh yield | $225K | $32K$32K | 27.9%gy |