4448 Chaha Rd, Garland, TX 75043
- $3,600,000
- 37
- BD
- 37
- BA
- List Price
- $3,600,000
- MLS#
- 21356792
- Status
- ACTIVE
- Type
- Multifamily
- Subtype
- ResidentialIncome
- Year Built
- 1981
- Construction Status
- Preowned
- Bedrooms
- 37
- Full Baths
- 37
- Acres
- 13.55
- County
- Dallas
- City
- Garland
- Subdivision
- FAULKNER POINT 2
- Building Name
- Faulkner Point
Property Description
Rare investment opportunity to acquire a 22-unit portfolio in a lakefront community on Lake Ray Hubbard, offering substantial ownership within the HOA. The portfolio consists of 15 two-bedroom units and 7 one-bedroom units, with 20 units currently leased on 12-month terms, one unit leased month-to-month, and just one vacancy. Current monthly rental income totals approximately $30,170.75, providing strong in-place cash flow with additional upside through filling the vacant unit and future rent increases across several leases. 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.
Additional Information
- Amenities
- Fireplace, Pool
- Lot Size
- 590,020
- Flooring
- Vinyl
- Foundation
- Slab
- Roof
- Shingle
- Stories
- 2
- Pool
- Yes
- Pool Features
- Pool
- Fireplaces
- 1
- Fireplace Type
- None
- Parking Garage
- Additional Parking, Assigned
- School District
- Garland Isd
- Elementary School
- Choice Of School
- Middle School
- Choice Of School
- High School
- Choice Of School
- Possession
- CloseOfEscrow
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Listing courtesy of Cooper Johnson from Woodall and Co. Realty, LLC. Contact: 214-738-0070
Listings provided by North Texas Real Estate Information Systems (NTREIS). Listing data has been deemed reliable but is not guaranteed to be accurate by the MLS.
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