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1007 Richey Dr
Gladewater, TX 75647
Eastgate Duplexes · Multifamily Property For Sale
·
2 Units
Investment Highlights
- Income-producing East Texas multifamily investment
- Seven improved duplex parcels provide investors with flexibility for long-term ownership
- Convenient to CHRISTUS Trinity Clinic and established Gladewater retailers, services and employment centers
- New roofs and gutters installed across all seven buildings in 2025
- Positioned between Tyler and Longview with convenient access to U.S. Highway 80 and Interstate 20
- All 14 units feature 2 bedrooms, 1 bathroom and approximately 956 SF, simplifying leasing, maintenance and unit turns
Executive Summary
Income-producing East Texas multifamily investment offering rent growth potential and a flexible parcel-level exit strategy.
Eastgate Duplexes presents the opportunity to acquire a 14-unit multifamily portfolio consisting of seven single-story duplex buildings across eight separate parcels in Gladewater, Texas. The portfolio totals 13,384 SF on approximately 3.19 acres, with a uniform mix of fourteen 2-bedroom, 1-bath units averaging approximately 956 SF each. Ownership has completed significant recent improvements, including new roofs and gutters across all seven buildings in 2025, along with interior renovations and flooring improvements in select units. The portfolio offers identifiable upside through continued rent growth, with in-place rents averaging approximately $850 per month and recent leases signed at $900 and $950. The separate parcel configuration also provides investors with added flexibility to hold the portfolio as a whole or potentially sell individual duplex properties over time. PROPERTY DETAILS & HIGHLIGHTS 14-Unit Multifamily Portfolio – Seven single-story duplex buildings totaling 13,384 SF on approximately 3.19 acres Located between Tyler and Longview with convenient access to U.S. Highway 80 and Interstate 20, Eastgate Duplexes offers a manageable multifamily investment with current income, recent capital improvements, and multiple paths for future value creation.
Eastgate Duplexes presents the opportunity to acquire a 14-unit multifamily portfolio consisting of seven single-story duplex buildings across eight separate parcels in Gladewater, Texas. The portfolio totals 13,384 SF on approximately 3.19 acres, with a uniform mix of fourteen 2-bedroom, 1-bath units averaging approximately 956 SF each. Ownership has completed significant recent improvements, including new roofs and gutters across all seven buildings in 2025, along with interior renovations and flooring improvements in select units. The portfolio offers identifiable upside through continued rent growth, with in-place rents averaging approximately $850 per month and recent leases signed at $900 and $950. The separate parcel configuration also provides investors with added flexibility to hold the portfolio as a whole or potentially sell individual duplex properties over time. PROPERTY DETAILS & HIGHLIGHTS 14-Unit Multifamily Portfolio – Seven single-story duplex buildings totaling 13,384 SF on approximately 3.19 acres Located between Tyler and Longview with convenient access to U.S. Highway 80 and Interstate 20, Eastgate Duplexes offers a manageable multifamily investment with current income, recent capital improvements, and multiple paths for future value creation.
Property Facts
| Price Per Unit | $447,500 | Lot Size | 3.19 AC |
| Sale Type | Investment | Building Size | 13,384 SF |
| Cap Rate | 7.08% | Average Occupancy | 100% |
| No. Units | 2 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1976 |
| Property Subtype | Apartment | Parking Ratio | 2.99/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | R-1 - Single Family | ||
| Price Per Unit | $447,500 |
| Sale Type | Investment |
| Cap Rate | 7.08% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.19 AC |
| Building Size | 13,384 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1976 |
| Parking Ratio | 2.99/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-1 - Single Family |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 14 | - | - |
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,009,220 | |
| Land Assessment | $36,680 | Total Assessment | $1,045,900 |
Property Taxes
Parcel Numbers
Land Assessment
$36,680
Improvements Assessment
$1,009,220
Total Assessment
$1,045,900
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