UPDATED:
Key Details
Property Type Single Family Home
Sub Type Multiple Single Units
Listing Status Active
Purchase Type For Sale
Subdivision Faulkner Point 2
MLS Listing ID 21356792
Bedrooms 37
Full Baths 37
HOA Fees $6,246/mo
HOA Y/N Mandatory
Total Fin. Sqft 1
Year Built 1981
Lot Size 13.545 Acres
Acres 13.545
Property Sub-Type Multiple Single Units
Property Description
The portfolio has also benefited from significant recent capital improvements. Most water heaters are approximately 1–2 years old, 7 units have HVAC systems approximately 1–2 years old, and roughly 80% of the units have received waterproof flooring within the past two years. Many units also feature recently replaced refrigerators.
The HOA permits short-term rentals, providing investors with additional flexibility and the potential to generate premium rental income through alternative leasing strategies. Community amenities include gated parking and waterfront access to Lake Ray Hubbard, while the location offers convenient highway access and close proximity to Rockwall Harbor, shopping, dining, and other major retail destinations. School choice is another notable benefit of the location, with access to several highly rated schools and educational programs.
With strong existing occupancy, long term tenants, immediate cash flow, recent improvements, rental upside, and flexible leasing options, this portfolio presents a rare opportunity to acquire significant scale within a single lakefront community.
Location
State TX
County Dallas
Direction GPS!
Interior
Interior Features Built-in Features
Heating Electric
Cooling Central Air
Flooring Vinyl
Fireplaces Number 1
Fireplaces Type None
Appliance Dishwasher, Disposal, Electric Cooktop, Gas Cooktop, Microwave, Refrigerator
Heat Source Electric
Exterior
Utilities Available City Sewer, City Water
Waterfront Description Lake Front
Roof Type Shingle
Garage No
Private Pool 1
Building
Story Two
Foundation Slab
Level or Stories Two
Structure Type See Remarks
Schools
Elementary Schools Choice Of School
Middle Schools Choice Of School
High Schools Choice Of School
School District Garland Isd
Others
Acceptable Financing 1031 Exchange, Assumable, Cash, Contact Agent, Conventional
Listing Terms 1031 Exchange, Assumable, Cash, Contact Agent, Conventional
Virtual Tour https://www.propertypanorama.com/instaview/ntreis/21356792
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As a resident of the Lakewood/East Dallas community Marissa can provide personal insight into our neighborhood. As a native of Dallas, Marissa attended SMU to obtain her business degree from the Cox School of Business, after 10 years in corporate America her experience in negotiating with International firms transfers directly into her real estate business. High Integrity, honesty, and a passion for people make working with Marissa a delight. As a by-referral realtor Marissa is 100% committed to you and your real estate goals. Marissa has extensive sales knowledge in various areas of the metroplex including, but not limited to Lakewood, Preston Hollow, Park Cities, Hollywood Heights, M Streets, and Lake Highlands.