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$ 425,000

Est. payment | -/mo

6 Beds

4 Baths

1.36 Acres Lot

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$ 425,000

Est. payment | -/mo

Save Virtual Tour

6 Beds

4 Baths

1.36 Acres Lot

Key Details

Property Type Multi-Family

Sub Type Multiple Single Units

Listing Status Active

Purchase Type For Sale

Subdivision Lscs Peden Add

MLS Listing ID 21324127

Bedrooms 6

Full Baths 4

HOA Y/N None

Total Fin. Sqft 1242

Year Built 1978

Annual Tax Amount $4,193

Lot Size 1.363 Acres

Acres 1.363

Property Sub-Type Multiple Single Units

Property Description

Turnkey residential income opportunity offering immediate cash flow and an attractive 8.23% cap rate. Situated on 1.3+ acres, this unique property features two separately leased residences, making it an ideal addition to any investment portfolio or an excellent option for an owner-occupant seeking built-in rental income. The front residence has been extensively remodeled with quartz countertops, luxury vinyl plank flooring, updated cabinetry, and contemporary finishes throughout, and is currently leased for $1,999 per month. The second residence is a 2022-built manufactured home offering 3 bedrooms, 2 bathrooms, and 1,216 square feet. It has its own address, private entrance, separate utilities, and has been permanently affixed and perfected to the real property deed, enhancing financing flexibility and long-term value. The back residence is currently leased for $1,600 per month. Producing $43,188 in gross annual income with annual operating expenses of just $8,195, the property generates a net operating income of $34,993, resulting in an impressive 8.23% cap rate at the current asking price. With both units occupied and producing immediate income, 7971 Peden Rd offers investors a stabilized, turnkey asset with strong cash flow and long-term upside.

Location

State TX

County Tarrant

Direction From TX-199 W, take the exit for FM 730/Boyd and merge onto the frontage road. Turn right onto Boyd Rd, then right onto Peden Rd. The destination will be on the right. Welcome!

Interior

Interior Features Cable TV Available, Eat-in Kitchen, High Speed Internet Available, Vaulted Ceiling(s), Walk-In Closet(s)

Heating Central

Cooling Central Air, Electric

Flooring Carpet, Luxury Vinyl Plank

Fireplaces Number 1

Fireplaces Type Wood Burning

Appliance Dishwasher, Disposal, Gas Cooktop, Gas Oven, Plumbed For Gas in Kitchen, Refrigerator

Heat Source Central

Exterior

Carport Spaces 2

Fence Fenced, Pipe

Utilities Available All Weather Road, Co-op Water, Outside City Limits, Septic

Roof Type Composition

Total Parking Spaces 2

Garage No

Building

Story One

Foundation Slab

Level or Stories One

Structure Type Brick

Schools

Elementary Schools Liberty

High Schools Azle

School District Azle Isd

Others

Acceptable Financing 1031 Exchange, Cash, Conventional

Listing Terms 1031 Exchange, Cash, Conventional

Virtual Tour https://www.propertypanorama.com/instaview/ntreis/21324127

North Texas Real Estate Info Systems (NTREIS) -MetroTex and Collin County (CCAR)

Listed by Daniel Harker • Keller Williams Realty DPR

7971 Peden Road Azle, TX 76020

Ellis County New Homes

Key Details

Location

Interior

Exterior

Building

Schools

Others

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7971 Peden Road