Great opportunity to own an amazing group of condos on the banks of Lake Ray Hubbard. Great location near major highways I30 and 190 for easy access to anywhere in the metroplex, plus easy bus line access make these easy to lease. Being adjacent to Bass Pro Shops and… Read More just across from the emerging entertainment destination site of the Bayside Resort make these great Airbnb's as well, just remind your guests to bring their swim suits to enjoy the TWO swimming pools and their fishing poles and Kayaks to enjoy using right off the banks of the complex in beautiful Lake Ray Hubbard! Every unit has a private patio or balcony with most offering fantastic lake views!! Short term rentals are allowed by the HOA. Well managed HOA and high occupancy rates make this an appealing opportunity that you should not miss. Onsite property manager is willing to stay at a very reasonable rate making this a very low effort investment. True cap rate of around 6% inclusive of all expenses including management. Recent quick CMA shows that the price for purchasing these separately is around 500K more than these are listed for as a package, allowing you to create almost half a million of instant equity! Owner may be willing to finance with a 25% down payment at 6.5% interest. No showings until substantial agreement on price and terms. Tenants pay electric. All other utilities and exterior maintenance are covered by the HOA dues. All units have a fireplace and full size washer dryer connections as well as additional outdoor storage. Several units are currently leased at below market rates giving a nice upside opportunity for new owners. Owner is a licensed TX real estate broker. Text for fastest response. See transaction desk for more details. 15 units are two bedrooms and 7 are one bedrooms. This package is for 22 units within a 252 unit complex. Each of the 22 units have a unique parcel ID number. Read Less
Courtesy of Row Real Estate LLC, Robin Tomberlin Johnson.
Listing Snapshot
Days Online
3
Last Updated
Property Type
Other
Beds
2
Full Baths
2
Lot Size
13.54 Acres
Year Built
1981
MLS Number
20985443
Additional Details
Appliances & Equipment
Dishwasher, Disposal
Building
Built in 1981, Construction materials: Brick, Levels: One, 6 buildings, 1, Toal building area: 842
Cooling
CentralAir
Floors
Combination
Heating
Central
Home Owner's Association
Association fee: $6,246, Association amenities: MaintenanceFrontYard
Income
Gross income: $372,180, Net operating income: $189,410
Interior Features
DecorativeDesignerLightingFixtures
Lot
13.545 acres, 590,020 sqft
Parking
60 total parkings, AdditionalParking
Pool
Pool
Roof
Asphalt
Sewer
PublicSewer
Utilities
SewerAvailable
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