7-Unit Multifamily in Longview, TX

🚨 LONGVIEW, TX: 7 UNITS, SELLER FINANCED, $30K IN 🚨

FOR OPERATORS, NOT PASSIVE INVESTORS. 5.75% FIXED. NO BANK. 100% LEASED.

📍 Longview, East Texas | 7 units on one lot | Built 1943, Class C | $225K ($32K a door)

⚠️ STRAIGHT TALK FIRST

▪️ Sold as-is. The appraiser rated the condition below average to poor.

▪️ Zoned single-family, run as seven units. The seller says the city calls it legally nonconforming. Nobody has that in writing.

▪️ Three city code items from 2025 are still open. The seller has committed in writing to fix them for a committed buyer.

▪️ Five of the seven leases are new since August. Tenure is short and screening has been light.

▪️ Third-party management has not worked here, per the seller. It needs an owner who is present or has someone local.

▪️ It's all in the file. The terms are what you get paid for carrying it.

💰 THE TERMS

✅ Entry: $30,000 + closing costs (about $34,000 all in)

✅ Seller carries $210,000 at 5.75% FIXED

✅ 30-year amortization, 10-year balloon

✅ Payment: $1,225/mo P&I

✅ No bank. No bank appraisal. No personal guarantee.

📈 THE NUMBERS

✅ $55,025 collected in the last 12 months. Covers the note 3.7x

✅ All 7 units on written leases. 6 run into 2027

✅ Leases in place total $62,700/yr

💵 CASH FLOW AFTER DEBT

(after insurance, taxes, repairs and reserves)

▪️ Run it yourself: ~$1,245/mo = ~44% cash-on-cash

▪️ Hire a manager at 8%: ~$980/mo = ~35% cash-on-cash

▪️ Collect 92% of scheduled rent: ~$1,675/mo = ~59% cash-on-cash

🔑 THE UPSIDE IS KEEPING UNITS FILLED. Per the seller, tenants pay in full and the gap came from units sitting empty between tenants during a management gap. Hold your tenants and refill fast and you add ~$7,700/yr. No rent increase needed.

🛠️ HOW IT RUNS TODAY

▪️ 6 of 7 tenants pay digitally

▪️ Keypad locks on all 7 units with a master code

▪️ Late fee in the lease

▪️ Tenant handyman on site

🧾 CREDITS AT CLOSING: prorated taxes, tenant deposits and prorated rent come off your wire. About $24,500 total out of pocket on a Nov 6 close (estimate).

🛡️ YEAR-10 EXIT ALREADY NEGOTIATED: if your refinance comes up short, the seller subordinates and carries up to $35K for 5 more years. No second balloon.

🏢 THE BUILDING

▪️ 7 units, built 1943, Class C, all bills paid

▪️ Same owner-operator for 11 years. He is retiring from his out-of-town rentals

▪️ Seller available by phone for 60 days to hand it off

▪️ Seller pays half the inspection

👤 QUALIFIED OPERATORS ONLY. Best fit: you already run older Class C, and you know Texas or own here. Not a first multifamily deal. The seller carries 93% and approves the buyer: financial statement, portfolio summary, credit review.

⏰ Closes on or before Nov 6. One building, one buyer.

👉 Comment "LONGVIEW" or DM me for the full package. Signed NDA + proof of funds required.

We are marketing our equitable interest under a purchase contract, not the property itself. Buyer to perform own due diligence.