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Willow Creek Apartments 1224 S High St 39 Unit Apartment Building $1,657,044 CAD ($42,488 CAD/Unit) 6.60% Cap Rate Longview, TX 75602
Investment Highlights
- Nearby Lakeport offers recreational activities for all ages
- The location's close proximity to major employers and educational institutions, such as East Texas Baptist University and LeTourneau University
- New management as of June 1, 2026
- Retail and dining options can be found at Longview Towne Crossing and Longview Mall
- Value-add upside for multi-family investors
Executive Summary
This 48,787 SF multifamily property comprises 39 units and represents a valueadd investment opportunity in East Texas. The asset has yet to reach its income potential, currently generating nearly $15,000 in monthly income. Its below market occupancy provides a defined path for targeted lease-up and subsequent increased revenue. The property benefits from a Longview location with convenient access to retail, dining, recreation, and higher education, factors that support resident demand for multifamily housing in the immediate area. Strategically located on High Street, more than 10,000 vehicles per day pass through this highly-visible and accessible area.
Financial Summary (Pro Forma - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$109,134
|
$3.12
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $109,134 |
| Annual Per SF | $3.12 |
Property Facts
| Price | $1,657,044 CAD | Building Class | B |
| Price Per Unit | $42,488 CAD | Lot Size | 1.12 AC |
| Sale Type | Investment | Building Size | 35,000 SF |
| Cap Rate | 6.60% | Average Occupancy | 90% |
| No. Units | 39 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1955/2023 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | MF - Multi-family | ||
| Price | $1,657,044 CAD |
| Price Per Unit | $42,488 CAD |
| Sale Type | Investment |
| Cap Rate | 6.60% |
| No. Units | 39 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.12 AC |
| Building Size | 35,000 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built/Renovated | 1955/2023 |
| Parking Ratio | 1/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | MF - Multi-family |
Amenities
Unit Amenities
- Cable Ready
- Dishwasher
- Heating
- Kitchen
- Oven
- Tub/Shower
Site Amenities
- Courtyard
- Laundry Facilities
- Property Manager on Site
- Grill
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 21 | - | 750 |
| 2+1.5 | 18 | - | 1,000 |
1 1
Fairly walkable
40/100
Very drivable
80/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 20458 | Improvements Assessment | $2,712,070 CAD |
| Land Assessment | $67,730 CAD | Total Assessment | $2,779,800 CAD |
Property Taxes
Parcel Number
20458
Land Assessment
$67,730 CAD
Improvements Assessment
$2,712,070 CAD
Total Assessment
$2,779,800 CAD
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Willow Creek Apartments | 1224 S High St
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