1962 Year Built:

Building or Complex name: Lake Ridge Apartments Location:

Brick Construction:

Resale Condition:

Refrigerator Appliances:

Covered Patio Property Features:

Carpet, Ceramic tile Floors:

city water, City sewer Utilities:

Wall or Window Units Cooling System:

On Slab Basement and Foundation:

Metal Roofing:

100 Number of parking spaces:

Parking Lot Parking type:

Athens ISD School District:

Central Athens Elementary School:

Athens High School:

Athens Middle School:

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 - 8.00% Please contact Drake representatives for seller financing options.