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Listed by Sarah Johnston • Julie Woods & Associate RE Firm
$1,050,000
Est. payment /mo
Active
505 Bub Hayner Rd Karnack, TX 75661
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Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type for sale
Subdivision Tx
MLS Listing ID 20265902
Year Built 1988
Property Sub-Type Other
Property Description
RARE INCOME-PRODUCING OPPORTUNITY NEAR THE ICONIC WATERS OF CADDO LAKE! Welcome to The Cove at 505 Bub Hayner Road in Karnack, Texas, where strong investment potential, acreage, and the East Texas lake lifestyle come together in one truly unique property. Situated on approximately 7.7 acres and offered at $1,050,000, this established investment property features 14 total rentals, including two RV sites with additional RV accommodations in the works, creating multiple streams of income with even more potential for future growth. The residential units offer a desirable mix of floor plans ranging from one-bedroom/one-bath and two-bedroom units to spacious three-bedroom/two-bath residences, appealing to a variety of tenants. One of the property's greatest strengths is its consistent rental history. The units have historically maintained strong occupancy and consistently stay rented, providing an established income stream for the next owner. Many of the units have also been updated, making this an attractive opportunity for an investor looking to step into an operating rental property rather than start from the ground up. Based on the seller-provided 2025 T12 and reported net operating income, the property reflects an approximate 11.7% cap rate at the current $1,050,000 asking price. T12 and additional financial information are available to qualified buyers for review. What truly sets The Cove apart is the setting. Residents and guests can enjoy a private boat ramp and fishing pier, providing convenient access to the incredible outdoor lifestyle surrounding Caddo Lake. The existing RV sites provide an additional source of revenue, while planned additional RV accommodations offer even more potential for a future owner to expand the property's income-producing capabilities. An additional on-site building creates another exciting opportunity and could potentially be transformed into a laundry facility, snack shop, convenience area, or additional tenant amenity. Aerobic systems are already in place, adding to the property's existing infrastructure. With 14 rentals, strong and consistent occupancy, multiple income streams, an approximate 11.7% cap rate based on seller-provided financials, 7.7 acres, RV accommodations, private water access, and additional upside potential, The Cove offers an investment opportunity that is increasingly difficult to replicate. Own the income. Own the acreage. Own a piece of the Caddo Lake lifestyle. Offered at $1,050,000. Schedule your private tour today and discover the investment potential of 505 Bub Hayner Road.
Location
State TX
County Harrison
Area Karnack Isd
Direction From Texas Highway 43, Take a right on FM 2682. Take a right on FM 134. Take a left on FM 1999. Take another left on FM 9 and a right on Bub Hayner Rd. Property on your right.
Interior
Appliance Electric Range/Oven, 2 Or More Ovens, Dishwasher, Vent Fan, Ice Maker Connection
Exterior
Parking Features Carport
Roof Type Composite,Metal
Building
Structure Type Frame
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