201 Flat Creek Road
Athens, TX 75751
- – beds
- – baths
- 38,760 sqft
- ~4 acre lot
- $180 per sqft
- 1962 build
- – on site
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%
Last checked:
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Last updated Feb 10, 2025
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MLS# 20837524 —
The Building
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Year Built:1962
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Year Built Details:Preowned
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Patio And Porch Features:Covered
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Security Features:Fire Alarm
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Accessibility Features:No
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Roof:Metal
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Foundation Details:Slab
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Levels:One
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Construction Materials:Brick
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Building Area Total:38760.00
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Building Area Source:Owner
Interior
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Interior Features:Other
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Flooring:Carpet, Ceramic Tile
Location
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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
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Latitude:32.20990500
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Longitude:-95.82642000
The Property
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Property Type:Residential Income
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Property Subtype:Apartment
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Parcel Number:1341
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Lot Size SqFt:159865.2000
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Lot Size Acres:3.6700
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Lot Size Area:3.6700
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Lot Size Units:Acres
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# of Buildings:1
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Will Subdivide:No
Listing Agent
- Contact info:
- No listing contact info available
The Listing
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Virtual Tour URL Unbranded:https://www.propertypanorama.com/instaview/ntreis/20837524
Heating & Cooling
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Heating:Other
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Cooling:Wall/Window Unit(s)
Utilities
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Utilities:City Sewer, City Water, Electricity Connected
Appliances
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Appliances:Gas Range, Refrigerator
Schools
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School District:Athens ISD
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Elementary School:Central Athens
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Elementary School Name:Central Athens
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Middle School Name:Athens
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High School Name:Athens
The Community
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Subdivision Name:A0171
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Community Features:Laundry
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Pool:No
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Association Type:None
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Complex Name:Lake Ridge Apartments
Parking
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# of Parking Spaces:100
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Parking Features:Off Street, On Site, Parking Lot
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Sale history
Date | Event | Source | Price | % Change |
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2/6/25
Feb 6, 2025
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Listed / Active | NTREIS | $7,000,000 |