201 Flat Creek Rd, Athens TX 75751

For Sale For Rent

Advertise

$7,000,000

201 Flat Creek Rd, Athens, TX 75751

bedrooms

bathrooms

square feet

38,760

Acreage

3.67

Open Houses

year built

1962

Full Baths

Half Baths

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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%

Location
Subdivision	A0171
County	Henderson
Elementary School	Athens
Middle School	Athens
High School	Athens

Driving directions

Open houses

None scheduled.

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MLS number: 25001835

Listing agent: Fischer Davis #0816546

Listing broker: Drake Capital, Llc Dba Drake Real Estate & Investments (903) 581-3737

Copyright © 2025 Greater Tyler Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. [source]

Last update: Monday, February 10 2025 at 8:57 p.m. EST

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