201 Flat Creek Rd
Athens, TX 75751
-- Bed-- Bath38,760 Sq Ft98 Days on Market
For Sale $6,250,000
Save
Courtesy of Drake Real Estate & Investment
Listing Agent & Comments
Matthew Marshall • Drake Real Estate & Investment
903-581-3737 • land@draketexas.com License #0544812Reach 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
Living Area | 38,760 Sq.Ft. |
---|---|
Lot Size | 3.7 Acres |
Total Rooms | -- |
Bedrooms | -- |
Bathrooms | -- |
Stories | 1 |
Year Built | 1962 |
Property Type | Multifamily |
Zoning | -- |
HOA Name | -- |
HOA Fee | -- |
HOA Includes | -- |
Tax Year | -- |
Tax Amount | -- |
Property in Flood Zone | -- |
Basement | No |
Pool | No |
Data provided by NTREIS.
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
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HouseCanary, Inc. Brokerage
201 Flat Creek Rd., Athens, TX 75751
Multifamily-- Bed-- Bath38,760 Sq Ft98 Days on Market
Listing Agent & Comments
Matthew Marshall • Drake Real Estate & Investment
903-581-3737 • land@draketexas.com License #0544812Reach 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
Living Area | 38,760 Sq.Ft. |
---|---|
Lot Size | 3.7 Acres |
Total Rooms | -- |
Bedrooms | -- |
Bathrooms | -- |
Stories | 1 |
Year Built | 1962 |
Property Type | Multifamily |
Zoning | -- |
HOA Name | -- |
HOA Fee | -- |
HOA Includes | -- |
Tax Year | -- |
Tax Amount | -- |
Property in Flood Zone | -- |
Basement | No |
Pool | No |
Data provided by NTREIS.
This property is missing data for:
Comparable properties
New
Do you own this home?
Access your homeowner dashboard
For Sale $6,250,000
Save
Courtesy of Drake Real Estate & Investment
201 Flat Creek Rd
Athens, TX 75751
-- Bed-- Bath38,760 Sq Ft98 Days on Market
Listing Agent & Comments
Matthew Marshall • Drake Real Estate & Investment
903-581-3737 • land@draketexas.com License #0544812Reach 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
Living Area | 38,760 Sq.Ft. |
---|---|
Lot Size | 3.7 Acres |
Total Rooms | -- |
Bedrooms | -- |
Bathrooms | -- |
Stories | 1 |
Year Built | 1962 |
Property Type | Multifamily |
Zoning | -- |
HOA Name | -- |
HOA Fee | -- |
HOA Includes | -- |
Tax Year | -- |
Tax Amount | -- |
Property in Flood Zone | -- |
Basement | No |
Pool | No |
Data provided by NTREIS.
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
For Sale $6,250,000
Save
Courtesy of Drake Real Estate & Investment