201 Flat Creek Rd, Athens, TX 75751 – 25001835 - Dawn Marti

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Dawn Marti

dawnmartirealtor@gmail.com +1(361) 652-1746

$7,000,000

Est. payment - /mo

4 Beds

4 Baths

38,760 SqFt

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Fourplex

Listing Status Active

Purchase Type For Sale

Square Footage 38,760 sqft

Price per Sqft $180

Subdivision A0171

MLS Listing ID 25001835

Bedrooms 4

Year Built 1962

Tax Year 2024

Lot Size 3.670 Acres

Acres 3.67

Property Sub-Type Fourplex

Property Description

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 - 7.27% Please contact Drake representatives for seller financing options.

Location

State TX

County Henderson

Zoning Commercial

Interior

Heating Other/See Remarks

Cooling Window Unit(s)

Flooring Carpet, Ceramic Tile

Fireplaces Type None

Equipment Range/Oven-Gas, Refrigerator

Exterior

Exterior Feature Gutter(s)

View Y/N No

Roof Type Aluminum/Metal

Building

Foundation Slab

Sewer Public Sewer

Water Public

Level or Stories 1 Story

Schools

Elementary Schools Athens

Middle Schools Athens

High Schools Athens

Others

Acceptable Financing Cash, Conventional, Owner Carry 1st

Listing Terms Cash, Conventional, Owner Carry 1st

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Listed by Fischer Davis • Drake Real Estate & Investments

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Dawn Marti

+1(361) 652-1746

REALTOR® | License ID: 479579

REALTOR® License ID: 479579

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201 Flat Creek Rd Athens, TX 75751

Dawn Marti

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