INVESTMENT AND INCOME OPPORTUNITY ON HWY 69! Owner financing available! This versatile property offers multiple existing rental income streams along with excellent potential for future expansion. The property currently features three occupied studio units, each offering 1 bedroom, 1 bathroom, and heating and cooling, with current rents of $600, $650, and $700 per month. A separate 3 bedroom, 2 bathroom home is also currently rented for $1,600 per month, bringing total existing rental income to approximately $3,550 per month.
Adding even more opportunity, an additional structure on the property could potentially be finished out for another residential rental, office, business, or other income-producing use. Pre-existing utility infrastructure provides a valuable head start for expanding the property with additional units and increasing future rental income.
With established tenants, multiple income-producing units, Highway 69 frontage, and room to grow, this property presents an exciting opportunity for investors looking to acquire an existing rental operation with additional value-add potential. Continue operating the current rentals while exploring expansion, additional residential units, or commercial possibilities to maximize the property's income potential.
| Listing Id: | 21397839 |
|---|---|
| List Price: | $500,000 |
| Property Type: | Residential Income |
| Property Sub Type: | Multiple Single Units |
| Status: | Active |
| Living Area: | 2,016 |
| Lot Size Square Feet: | 404,803.0800 |
| Lot Size Acres: | 9.293 |
| Waterfront?: | No |
| City: | Alba |
| County Or Parish: | Wood |
| Postal Code: | 75410 |
| Year Built: | 2000 |
| Unit Count: | 4 |
| Accessibility Features: | Accessible Approach with Ramp |
| Accessibility Features Yn: | Yes |
| Appliances: | Other |
| Association Type: | None |
| Attached Garage?: | No |
| Basement Yn: | No |
| Building Area Source: | Assessor |
| Building Area Total: | 2,016.00 |
| Complex Name: | N/a |
| Construction Materials: | Brick, Other |
| Cooling: | Window Unit(s) |
| Covered Spaces: | 1 |
| Directions: | From Alba, travel north on US Highway 69. Continue north on Hwy 69 approximately 5 miles. Property will be located on the left. |
| Elementary School: | Albagolden |
| Elementary School Name: | Albagolden |
| Exclusions: | Personal Items located in additional building structure (left of main house). |
| Fencing: | Barbed Wire |
| Flooring: | Other |
| Foundation Details: | Pillar/Post/Pier |
| Garage Spaces: | 1 |
| Garage?: | Yes |
| Gross Annual Expenses: | $8,088 |
| Gross Annual Income: | $42,600 |
| Heating: | Fireplace(s) |
| High School Name: | Albagolden |
| Horse Permitted Yn: | Yes |
| Insurance Expense: | $4,555 |
| Interior Features: | Other |
| Levels: | Two |
| Listing Terms: | 1031 Exchange, Cash, Conventional, FHA, Owner Will Carry, VA Loan |
| Lot Features: | Acreage, Many Trees, Tank/ Pond |
| Lot Size: | 5 to < 10 Acres |
| Lot Size Area: | 9.2930 |
| Lot Size Source: | Assessor |
| Lot Size Units: | Acres |
| Middle School Name: | Albagolden |
| Multi Parcel ID: | No |
| Municipal Utility District?: | No |
| Net Operation Income: | $29,957 |
| Number Of Buildings: | 5 |
| Number Of Parking Spaces: | 2 |
| Operating Expense Includes: | Capital Improvements, Maintenance, Mortgage/Loans, Utilities |
| Parking Features: | Carport, Gravel |
| Pool?: | No |
| Possession: | Closing/Funding |
| Roof: | Metal |
| School District: | Alba-Golden ISD |
| Smart Home Features Appor Pass Y: | 0 |
| Utilities: | Aerobic Septic, Natural Gas Available |
| Will Subdivide: | No |
| Year Built Details: | Preowned |
Listing Courtesy of: Marksman Management, Real Estate & Auction
Listing Agent: Alex Chapa
214-676-5053
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North Texas Real Estate Information Systems, Inc. data last updated on October 21, 2026 01:14 AM - CT
Property Last Updated: October 21, 2026 01:14 AM - CT
