Log In/Sign Up
Your email has been sent.
Lake Ridge Apartments 201 Flat Creek Rd 100 Unit Apartment Building $4,950,000 ($49,500/Unit) 10.10% Cap Rate Athens, TX 75751
EXECUTIVE SUMMARY
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.
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.
DATA ROOM Click Here to Access
PROPERTY FACTS Under Contract
| Price | $4,950,000 | Building Class | C |
| Price Per Unit | $49,500 | Lot Size | 3.67 AC |
| Sale Type | Investment | Building Size | 50,000 SF |
| Cap Rate | 10.10% | Average Occupancy | 95% |
| No. Units | 100 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 3.22/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | Commercial | ||
| Price | $4,950,000 |
| Price Per Unit | $49,500 |
| Sale Type | Investment |
| Cap Rate | 10.10% |
| No. Units | 100 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 3.67 AC |
| Building Size | 50,000 SF |
| Average Occupancy | 95% |
| No. Stories | 1 |
| Year Built | 1962 |
| Parking Ratio | 3.22/1,000 SF |
| Zoning | Commercial |
AMENITIES
UNIT AMENITIES
- Tile Floors
- Hardwood Floors
- Refrigerator
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 100 | $715.00 | 300 |
1 1
PROPERTY TAXES
| Parcel Number | 0171-0810-0000-01 | Improvements Assessment | $516,487 |
| Land Assessment | $199,559 | Total Assessment | $716,046 |
PROPERTY TAXES
Parcel Number
0171-0810-0000-01
Land Assessment
$199,559
Improvements Assessment
$516,487
Total Assessment
$716,046
1 of 34
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Lake Ridge Apartments | 201 Flat Creek Rd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.