201 Flat Creek Rd |
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| Price: | $7,000,000 |
| Property Type: | Multi-family |
| MLS #: | 25001835 |
| County: | Henderson |
| Year Built: | 1962 |
| Bedrooms: | One |
| Bathrooms: | One |
| Square Feet: | 38760 |
| Acres: | 3.67 |
| Elementary School: | ATHENS |
| Middle School: | ATHENS |
| High School: | ATHENS |
| 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% | |
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CONSTRUCTION Brick Veneer
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COOLING
Window Unit(s)
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KITCHEN EQUIPMENT
Range/Oven-Gas
Refrigerator
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FLOORING
Carpet
Ceramic Tile
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Courtesy: Davis, Fischer • Drake Real Estate & Investments • 903-581-3737 
The data relating to real estate for sale on this website comes in part from the Internet Data Exchange (IDX) of the Greater Tyler Association of REALTORS Multiple Listing Service. The IDX logo indicates listings of other real estate firms that are identified in the detailed listing information. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information is deemed reliable, but not guaranteed.
This content last refreshed on 03/11/2025 02:45 PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
