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The Haven | Longview

717 TX-31, Longview, TX 75604, USA

$1,260,000

Investment Available

Purchase Price

$6,850,000

Rehab Budget

$340,000

Stabilized Value

$9,866,212

Stage

Active

Property Description

The Haven Longview (currently a Studio 6) is conveniently located in Longview, TX with easy access to highways, shopping & dining. It currently contains 135 studio units, and upon purchase this property will be updated with adding kitchenettes in 63 units, fresh interior paint, exterior paint, updated facade and branding. The city allows for multi-family usage with the zoning designation of "Heavy Commercial". We anticipate the renovation project will take 6 months and fully leased up within 12 months. Once this property reaches stabilization we’re projecting to reach an ARV North of $10 Million!

Property Details

Property Type

Motel Conversion | Multifamily

Size

74,692 sf

Floors

2

Target Cash on Cash

14-19%

Year Built

1972

Units

135

Property Location

717 TX-31, Longview, TX 75604, USA

Investing involves risk, including loss of principal. Past performance does not guarantee or indicate future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. While the data we use from third parties is believed to be reliable, we cannot ensure the accuracy or completeness of data provided by investors or other third parties. Neither Metz Kelly Holdings nor any of its affiliates provide tax advice and do not represent in any manner that the outcomes described herein will result in any particular tax consequence. The opportunities within these pages or documents do NOT constitute offers to sell securities or stock, or solicitations of offers to buy securities or stock. Prospective partners should consult with a tax or legal adviser before making any investment decision.

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The Site cannot and does not contain real estate investment advice. The real estate investment information is provided for general information and educational purposes and is not a substitute for professional advice. Accordingly, before taking any actions based upon such information, we encourage you to consult with appropriate professionals. We do not provide any kind of real estate investment advice. THE USE OR RELIANCE OF ANY INFORMATION CONTAINED ON THE SITE OR OUR MOBILE APPLICATION IS SOLEY AT YOUR OWN RISK.

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