201 Flat Creek Rd Athens, TX 75751
Property details
About 201 Flat Creek Rd
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 - 7.27% Please contact Drake representatives for seller financing options.
Highlights
Summary
- MLS Number: 25001835
- MLS Name: TylerTX
- Office Name: Drake Real Estate & Investments
- Office Phone: (803) 329-3333
- Office Email: jdrinehart@rinehartrealty.com
- Listing Agent: Fischer Davis
Disclaimer: The data relating to real estate for sale on this website comes in part from the Internet Data Exchange (IDX) of the Greater Tyler Association of REALTORS Multiple Listing Service. The IDX logo indicates listings of other real estate firms that are identified in the detailed listing information. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information is deemed reliable, but not guaranteed. Copyright © 2025 Greater Tyler Association of REALTORS® All rights reserved.
The information on this web site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. We are not responsible or liable for misinformation, misprints, or typographical errors. All information provided is deemed reliable but is not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. Properties subject to prior sale, change, withdrawal or rental.
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Last updated on: 4/15/2025, 2:15:54 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$7,000,000
201 Flat Creek Rd
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Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $720,500 | $15,574 |
| 2022 | $717,090 | $17,096 |
| 2021 | $717,090 | $19,422 |
| 2020 | $717,090 | $19,975 |
| 2019 | $717,090 | $20,494 |
| 2018 | $679,460 | $19,364 |
| 2017 | $670,050 | $19,130 |
History based on county public records data.
Nearby schools
3
Central Athens Elementary School
Public District PK-5
1.6 mi
•307 Madole St
4
South Athens Elementary School
Public District PK-5
1.6 mi
•718 Robbins Rd
4
Bel Air Elementary School
Public District PK-5
2.7 mi
•215 Willowbrook Dr
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $50,217. Typical income of Athens, TX residents is between $35k-100k annually. The most common type of family is married, no kids. The majority of residents in this area have post secondary degree education.
How much money do the neighbors make?
What level of education do the neighbors have?
What types of families live nearby?
Are the neighbors home owners or renters?
How old are people in this area?
What do the neighbors do for fun?
NASCAR
Hunting
Figure Skating
Where do the neighbors shop?
Bass Pro Shops
Academy Sports & Outdoors
Dollar General
Where do the neighbors go to eat?
Hardee's
Jimmy Johns
Applebees
What do the neighbors drive?
GMC
Chevrolet
Cadillac
What do the neighbors listen to?
Classic Country
New Country
Oldies
This home is located at 201 Flat Creek Rd in Athens, TX and zip code 75751. This 38,760 square foot home, which was built in 1962, sits on a 3.67 acre lot. Features: 4 bedrooms, 4 bathrooms. It has been listed on Rocket Homes since February 6, 2025 and is currently priced at $7,000,000.
While more than 2 listings in Athens, TX in March 2025 were sold above asking price, there were more than 2 listings sold at asking price, and more than 3 were sold below. In March 2025 in Athens, TX there were 21.4% more homes for sale than in February. In March 2025, listings were on the market for 107 days. During the same period, the median list price in this real estate market was $240,000.