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1007 Richey Dr
Gladewater, TX 75647

$895,000 USD

Apartments For Sale • 13,384 SF

Property Details

Property Type Apartments
Total Building Size 13,384 SF
Lot Size 3.19 AC
Building Class C
Year Built 1976
Cap Rate 7.08 %
Zoning R-1

30 Walk Score

                
                    Highlights
                
                                Income-producing East Texas multifamily investment
                            
                                New roofs and gutters installed across all seven buildings in 2025
                            
                                Seven improved duplex parcels provide investors with flexibility for long-term ownership
                            
                                Positioned between Tyler and Longview with convenient access to U.S. Highway 80 and Interstate 20
                            
                                Convenient to CHRISTUS Trinity Clinic and established Gladewater retailers, services and employment centers
                            
                                All 14 units feature 2 bedrooms, 1 bathroom and approximately 956 SF, simplifying leasing, maintenance and unit turns

Property Flyers

OM 1007 Richey Dr Sale - 1007 Richey Gladewater

Financial Summary (Actual)

Net Operating Income: $63,322 USD (2025)

Cap Rate:

7.08 %

Public Transportation

Airport	Drive	Walk	Distance
Tyler Pounds Regional	49 min	-	35.0 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	40
Type:	Surface
Included in Rent:	Yes

Samuel Scarborough CCIM 903-570-7366 Scarborough Commercial Real Estate

1007 Richey Dr Gladewater, TX 75647