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Apartments on Caddo Lake 505 Bub Hayner Rd 12 Unit Apartment Building $1,933,349 CAD ($161,112 CAD/Unit) 9.06% Cap Rate Karnack, TX 75661
INVESTMENT HIGHLIGHTS
- Adjacent to Caddo Lake
- Newly Remodeled
- High Occupancy
EXECUTIVE SUMMARY
Caddo Lakefront Apartments Complex, Private Boat Ramp, RV sites and 2 HOMES!!
Looking for hands off investor, owner user with income or a stong cash flow play?
9 Unit Apartment Style Townhomes and a home, all Located on Caddo Lake! NO HOA!
2 homes, 4 RV pads and fishing pier and priavte boat ramp. Room to add more units. No restrictions and situated on 7.7+/- acres
UNIT 1 : 3/2 rented at $1250 renovated 2024
UNIT 2 : 3/2 rented at $895 renovated 2022
UNIT 3 : 1/1 rented at $650 (manager lives discounted rent)-wants to stay
UNIT 4 : 3/2 rented at $1050 renovated 2024
UNIT 5 : 2/1 rented at $895 renovated 2024
UNIT 6 : 2/2 rented at $950
UNIT 7 : 1/1 rented at $700 renovated 2024
UNIT 8 : 2/2 rented at $ 950 renovated 2024
UNIT 9 : 1/1 rented at $720 renovated 2024
HOUSE : 3/2 rented at $800 partly renovated 2024
4 RV sites, currently vacant. Proforma 400 per monthX 4= 1600 per month.
2 homes, 1500 per month and 1800 per month. One of homes went vacant on August 1st, so could be owner occupied and was recently remodeled.
TOTAL CURRENT ACTUAL MONTHLY GROSS $10,360
TOTAL YEARLY GROSS $ 125,000
Mowing : $3000
Trash : $2800
Insurance( currently none) anticipated 10K per annum
Proforma monthly- 13,760
Proforma annual- 165,120
Proforma NOI- 136,000
Newly Renovated and offering seller financing for qualified buyers!
30%+ down and first and only liens. No creative financing. 3 year Balloon.
Information enclosed deemed reliable but not guaranteed by listing broker. Buyer is responsible for his or her own due diligence. Listing broker cannot warrant the complete accuracy thereof subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice.Turn Key property group and its affiliates do not assume any legal liability for the accuracy of the enclosed information regarding subject listing. DO NOT DISTURB, SHOWINGS by appointment only. This is a fully occupied property.
Travis Turner, Broker
254-855-6430
Looking for hands off investor, owner user with income or a stong cash flow play?
9 Unit Apartment Style Townhomes and a home, all Located on Caddo Lake! NO HOA!
2 homes, 4 RV pads and fishing pier and priavte boat ramp. Room to add more units. No restrictions and situated on 7.7+/- acres
UNIT 1 : 3/2 rented at $1250 renovated 2024
UNIT 2 : 3/2 rented at $895 renovated 2022
UNIT 3 : 1/1 rented at $650 (manager lives discounted rent)-wants to stay
UNIT 4 : 3/2 rented at $1050 renovated 2024
UNIT 5 : 2/1 rented at $895 renovated 2024
UNIT 6 : 2/2 rented at $950
UNIT 7 : 1/1 rented at $700 renovated 2024
UNIT 8 : 2/2 rented at $ 950 renovated 2024
UNIT 9 : 1/1 rented at $720 renovated 2024
HOUSE : 3/2 rented at $800 partly renovated 2024
4 RV sites, currently vacant. Proforma 400 per monthX 4= 1600 per month.
2 homes, 1500 per month and 1800 per month. One of homes went vacant on August 1st, so could be owner occupied and was recently remodeled.
TOTAL CURRENT ACTUAL MONTHLY GROSS $10,360
TOTAL YEARLY GROSS $ 125,000
Mowing : $3000
Trash : $2800
Insurance( currently none) anticipated 10K per annum
Proforma monthly- 13,760
Proforma annual- 165,120
Proforma NOI- 136,000
Newly Renovated and offering seller financing for qualified buyers!
30%+ down and first and only liens. No creative financing. 3 year Balloon.
Information enclosed deemed reliable but not guaranteed by listing broker. Buyer is responsible for his or her own due diligence. Listing broker cannot warrant the complete accuracy thereof subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice.Turn Key property group and its affiliates do not assume any legal liability for the accuracy of the enclosed information regarding subject listing. DO NOT DISTURB, SHOWINGS by appointment only. This is a fully occupied property.
Travis Turner, Broker
254-855-6430
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Ceiling Fans
- Oven
- Handrails
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Dock
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 9 | - | - |
1 1
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Apartments on Caddo Lake | 505 Bub Hayner Rd
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