4444 Chaha Road #202 new Save Request In-Person Tour Request Virtual Tour
Garland,TX 75043
Key Details
Property Type Multi-Family
Sub Type Multiple Single Units
Listing Status Active
Purchase Type For Sale
Subdivision Faulkner Point 01-Faulkner Point
MLS Listing ID 20985443
Bedrooms 2
Full Baths 2
HOA Fees $6,246/mo
Year Built 1981
Annual Tax Amount $3,925
Lot Size 13.545 Acres
Property Sub-Type Multiple Single Units
Property Description
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 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.
Location
State TX
County Dallas
Interior
Heating Central
Cooling Central Air
Flooring Combination
Exterior
Utilities Available City Sewer
Roof Type Asphalt
Building
Story One
Foundation Slab
Structure Type Brick
Schools
Elementary Schools Choice Of School
Middle Schools Choice Of School
High Schools Choice Of School
School District Garland Isd
Others
Virtual Tour https://www.propertypanorama.com/instaview/ntreis/20985443