505 Bub Hayner Rd - Apartments FOR SALE


Karnack, TX 75661
$1,395,000 USD
254-855-6430
505 Bub Hayner Rd, Karnack, TX for Sale
$1,395,000 USD
Apartments - FOR SALE
1/11
null | 10% Cap Rate

505 Bub Hayner Rd
Karnack, TX 75661


HIGHLIGHTS

  • Adjacent to Caddo Lake
  • High Occupancy
  • Newly Remodeled

OVERVIEW

Caddo Lakefront Apartments Complex, Private Boat Ramp, RV sites and 2 HOMES!! 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! 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

FOR SALE DETAILS

PRICE

$1,395,000 USD

PRICE/SF

$63 USD /SF

# OF UNITS

12

PRICE/UNIT

$116,250

CAP RATE

10%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Apartments on Caddo Lake

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1987

PARKING SPACES

-

LAND DETAILS

LAND ACRES

7.58 AC

LAND SF

330,083 SF

ZONING

none

APN/PARCEL ID

R000066631

ASK ABOUT THIS PROPERTY

Travis TurnerTravis TurnerMore Info
254-855-6430

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Travis TurnerTravis TurnerMore Info
254-855-6430

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.