201 Flat Creek Road

Athens, Texas 75751

  • 0 Bed(s)
  • 0 Bath(s)
  • 0 Sqft
  • 3.67
    Acres(Lot)
$7,000,000

Description

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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%

  • Property Type

    Residential Income

  • Subdivision

    Belmont Park

  • County

    Henderson

  • Style

    Residential Income

  • AD ID

    48532478

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Property Details

  • Bathroom Information

    • Total Baths: 0

    Interior Features

    • Other

    Appliances

    • Gas Range,Refrigerator

    Utilities

    • City Sewer,City Water,Electricity Connected

    Cooling Features

    • Wall/Window Unit(s)

    Heating Source

    • Other

  • Building Information

    • Built Year: 1962
    • Building Area Total: 38,760
    • Construction: Brick
    • Roof Type: Metal

    Foundation

    • Slab

    Security Features

    • Fire Alarm

    Patio And Porch

    • Covered

    Construction Materials

    • Brick

  • Lot Information

    • Lot Size (Acr): 3.6700
    • Lot Size Units: Acres
    • Lot Size Square Feet: 159865.2000

    Property Information

    • Property Type: Residential Income
    • Property Sub Type: Apartment
    • Subdivision: A0171
    • City: Athens
    • State: Texas
    • Directions: From the intersection of Loop 7 & FM 2495 in Athens, head west on FM 2495 for approx. 1.2 miles. Property will be on the right
    • Property Status: Active

  • Listing Price Information

    • Original List Price: $7,000,000

    Listing Information

    • Possession: Closing/Funding

  • Tax Information

    • Parcel Number: 1341

  • Parking Information

    • Parking: 100
    • Parking Features: Off Street,On Site,Parking Lot

    Homeowners Association Information

    • HOA Type: None

  • School Information

    • Elementary School: Central Athens
    • Middle School: Athens
    • High School: Athens
    • School District: Athens ISD

    Utility Information

    • Utilities: City Sewer,City Water,Electricity Connected
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Disclosure: Listing information provided in part by the North Texas Real Estate Information Systems, Inc, for personal, non-commercial use by viewers of this site and may not be reproduced or redistributed. All information is deemed reliable but not guaranteed. Copyright © NTREIS 2025. All rights reserved

BuyOwner last updated this listing 04/08/2025 @ 19:19

  • MLS: 449230098
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: NTREIS - North Texas Real Estate Information

is a Home, with 0 bedrooms which is for sale, it has 0 sqft, 4 sized lot, and 0 parking. are nearby neighborhoods.