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2901 County 2347 rd 140 Unit Dormitory $425,000 ($3,036/Unit) Tyler, TX 75708
Investment Highlights
- Unique 3.42-acre property on east side of Tyler
- Former nursing home and college dormitory with utilities and infrastructure in place
- Strategic position just off of Loop 323 with daily traffic count of 27,411
- Currently zoned commercial for a variety of uses
Executive Summary
This offering presents an opportunity to acquire a stabilized, income-producing residential portfolio with diversified tenant income, modern improvements, and strong occupancy in East Texas.
Strategically positioned on the east side of Tyler at Loop 323 and East Front Street, this 3.42-acre property is ideal for redevelopment for a variety of uses. This one-story building, uniquely designed in a star shape with six wings, was built in 1970 and was initially a nursing home before being converted to housing for 140 college students. All utilities are available onsite, and the sewage system was upgraded by the college in the 2010s. This property offers a prime location in a stable market. However repurposed or redeveloped, it provides a versatile space with strong infrastructure in place.
Strategically positioned on the east side of Tyler at Loop 323 and East Front Street, this 3.42-acre property is ideal for redevelopment for a variety of uses. This one-story building, uniquely designed in a star shape with six wings, was built in 1970 and was initially a nursing home before being converted to housing for 140 college students. All utilities are available onsite, and the sewage system was upgraded by the college in the 2010s. This property offers a prime location in a stable market. However repurposed or redeveloped, it provides a versatile space with strong infrastructure in place.
Property Facts
| Price | $425,000 | Lot Size | 3.42 AC |
| Price Per Unit | $3,036 | Building Size | 29,982 SF |
| Sale Type | Investment | Average Occupancy | 0% |
| No. Units | 140 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1970 |
| Property Subtype | Dormitory | Parking Ratio | 3.34/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | C-2 - C-2 (General Commercial District) | ||
| Price | $425,000 |
| Price Per Unit | $3,036 |
| Sale Type | Investment |
| No. Units | 140 |
| Property Type | Multifamily |
| Property Subtype | Dormitory |
| Apartment Style | Low-Rise |
| Lot Size | 3.42 AC |
| Building Size | 29,982 SF |
| Average Occupancy | 0% |
| No. Stories | 1 |
| Year Built | 1970 |
| Parking Ratio | 3.34/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | C-2 - C-2 (General Commercial District) |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Not bikeable
10/100
Property Taxes
| Parcel Number | 1-50000-1402-00-004020 | Improvements Assessment | $1,635,262 |
| Land Assessment | $297,950 | Total Assessment | $1,933,212 |
Property Taxes
Parcel Number
1-50000-1402-00-004020
Land Assessment
$297,950
Improvements Assessment
$1,635,262
Total Assessment
$1,933,212
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2901 County 2347 rd
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