201 Flat Creek Rd
Athens, TX 75751
-- Bed
-- Bath
38,760 Sq Ft
98 Days on Market
For Sale $6,250,000
Save
Courtesy of Drake Real Estate & Investment

Listing Agent & Comments

Matthew MarshallDrake Real Estate & Investment
903-581-3737land@draketexas.com License #0544812
Reach out to Listing Agent for Offering Memorandum! Strategically located in Athens, TX, the Lake Ridge Apartments is an ideal investment opportunity for those looking for an as-is, cash-flowing multifamily property with value-add upside. Lake Ridge offers 100 studio units of the same floor plan and size, each equipped with a bathroom and kitchen. Tenants have access to a shared on-site laundry facility, individually keyed mailboxes, and plenty of parking. A charming southern town with an array of national and local retailers, Athens is conveniently located 72 miles east of Dallas and 36 miles west of Tyler. Lake Ridge is walking distance to a Walmart Supercenter and close to public schools (K-12). Opportunity for value-add ranges from additional income through implementation of RUBS and pet fees, to light make-ready improvements in various units. As-is, the property has averaged 94% occupancy and $450,000+ in annual Net Operating Income over the last three years. Cap Rate - 8.00% Please contact Drake representatives for seller financing options.

MLS# 20837524 • Data provided by NTREIS
Additional home details
Living Area38,760 Sq.Ft.
Lot Size3.7 Acres
Total Rooms--
Bedrooms--
Bathrooms--
Stories1
Year Built1962
Property TypeMultifamily
Zoning--
HOA Name--
HOA Fee--
HOA Includes--
Tax Year--
Tax Amount--
Property in Flood Zone--
BasementNo
PoolNo
More Information On This Home
This home's estimated value
$4,000,885
ComeHome Estimated Value
What influenced our estimate?
This is ComeHome’s estimated market value for this home. It is not a formal appraisal. This estimate is based on our market knowledge, and it should be used as a starting point to determine a home’s value.
This property is missing data for:
Comparable properties
New
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HouseCanary, Inc. Brokerage

201 Flat Creek Rd., Athens, TX 75751

Multifamily
-- Bed
-- Bath
38,760 Sq Ft
98 Days on Market

Listing Agent & Comments

Matthew MarshallDrake Real Estate & Investment
903-581-3737land@draketexas.com License #0544812
Reach out to Listing Agent for Offering Memorandum! Strategically located in Athens, TX, the Lake Ridge Apartments is an ideal investment opportunity for those looking for an as-is, cash-flowing multifamily property with value-add upside. Lake Ridge offers 100 studio units of the same floor plan and size, each equipped with a bathroom and kitchen. Tenants have access to a shared on-site laundry facility, individually keyed mailboxes, and plenty of parking. A charming southern town with an array of national and local retailers, Athens is conveniently located 72 miles east of Dallas and 36 miles west of Tyler. Lake Ridge is walking distance to a Walmart Supercenter and close to public schools (K-12). Opportunity for value-add ranges from additional income through implementation of RUBS and pet fees, to light make-ready improvements in various units. As-is, the property has averaged 94% occupancy and $450,000+ in annual Net Operating Income over the last three years. Cap Rate - 8.00% Please contact Drake representatives for seller financing options.

MLS# 20837524 • Data provided by NTREIS
Additional home details
Living Area38,760 Sq.Ft.
Lot Size3.7 Acres
Total Rooms--
Bedrooms--
Bathrooms--
Stories1
Year Built1962
Property TypeMultifamily
Zoning--
HOA Name--
HOA Fee--
HOA Includes--
Tax Year--
Tax Amount--
Property in Flood Zone--
BasementNo
PoolNo
This property is missing data for:
Comparable properties
New
Do you own this home?
Access your homeowner dashboard
house
For Sale $6,250,000
Save
Courtesy of Drake Real Estate & Investment
201 Flat Creek Rd
Athens, TX 75751
-- Bed
-- Bath
38,760 Sq Ft
98 Days on Market

Listing Agent & Comments

Matthew MarshallDrake Real Estate & Investment
903-581-3737land@draketexas.com License #0544812
Reach out to Listing Agent for Offering Memorandum! Strategically located in Athens, TX, the Lake Ridge Apartments is an ideal investment opportunity for those looking for an as-is, cash-flowing multifamily property with value-add upside. Lake Ridge offers 100 studio units of the same floor plan and size, each equipped with a bathroom and kitchen. Tenants have access to a shared on-site laundry facility, individually keyed mailboxes, and plenty of parking. A charming southern town with an array of national and local retailers, Athens is conveniently located 72 miles east of Dallas and 36 miles west of Tyler. Lake Ridge is walking distance to a Walmart Supercenter and close to public schools (K-12). Opportunity for value-add ranges from additional income through implementation of RUBS and pet fees, to light make-ready improvements in various units. As-is, the property has averaged 94% occupancy and $450,000+ in annual Net Operating Income over the last three years. Cap Rate - 8.00% Please contact Drake representatives for seller financing options.

MLS# 20837524 • Data provided by NTREIS
Additional home details
Living Area38,760 Sq.Ft.
Lot Size3.7 Acres
Total Rooms--
Bedrooms--
Bathrooms--
Stories1
Year Built1962
Property TypeMultifamily
Zoning--
HOA Name--
HOA Fee--
HOA Includes--
Tax Year--
Tax Amount--
Property in Flood Zone--
BasementNo
PoolNo
More Information On This Home
This home's estimated value
$4,000,885
ComeHome Estimated Value
What influenced our estimate?
This is ComeHome’s estimated market value for this home. It is not a formal appraisal. This estimate is based on our market knowledge, and it should be used as a starting point to determine a home’s value.
This property is missing data for:
Comparable properties
New
Do you own this home?
Access your homeowner dashboard
house

For Sale $6,250,000
Save
Courtesy of Drake Real Estate & Investment