About 1216 Shahan Prairie Road
Offering 4.5 ACRES of LAKEFRONT Property complete w Main House, a Guest house w 2 Apts & a 3 Unit APT Buildin PRODUCING currently over $75K Annually! Located on Lake Lewisville, nestled in the Cove at Oak Point in Little Elm at the Peninsula. Getting 3 new Roofs due to recent storm. HVAC replaced Dec 23. NO HOA or Deed Restrictions & room still to build out or add on. Property boasts a 3 Bed 2 Bath Main House with over 2,000 sq ft. Enjoy great views of the Lake from every angle. Separate Guest House with 2 Apartments & 4 car Garage, Plus a 3 Unit Apartment built in 2022, Each unit has 1Bed,Bth Kitchen & Living Area pus a Bay Garage *10ft High Doors* that it partially climate controlled in Garage plus a Storage Closet for each Unit. Also has shared Laundry & Ice Machine downstairs. Property has 2 slip Boathouse w Active Permit. Make this your own little piece of Texas and enjoy the Sunrise & Sunsets along with Fishing, Swimming & a relaxed Lake-Lifestyle all year round!
Features of 1216 Shahan Prairie Road
| MLS® # | 20420836 |
|---|---|
| Price | $3,295,000 |
| Units | 6 |
| Bedrooms | 8 |
| Full Baths | 7 |
| Building Area Total | 4,643 |
| Acres | 4.47 |
| Year Built | 1992 |
| Type | Residential Income |
| Sub-Type | Multi Family |
| Status | Active |
Community Information
| Address | 1216 Shahan Prairie Road |
|---|---|
| Subdivision | Dm Cule |
| City | Little Elm |
| County | Denton |
| State | TX |
| Zip Code | 75068-2834 |
Amenities
| Utilities | Aerobic Septic, Private Sewer, Private Water, Septic, Well, Water Tap Fee Paid |
|---|---|
| Features | Lake, Fishing, Laundry |
| Parking Spaces | 9 |
| # of Garages | 9 |
| Garages | 2-Car Double Doors, Garage, Garage Door Opener, Garage Faces Front, Oversized, Additional Parking, Boat, Circular Driveway, Common, Concrete, Deck, Driveway, Garage Faces Side, Golf Cart Garage, Gravel, Heated Garage, Inside Entrance, Lighted, Other, Parking Pad, Paved, Private, RV Access/Parking, RV Garage, Storage, Tandem, Workshop in Garage |
| Is Waterfront | Yes |
| Waterfront | Lake Front, Lake Front – Corps of Engineers |
| Has Pool | No |
Interior
| Interior Features | Cable TV Available, High Speed Internet Available |
|---|---|
| Heating | Central, Electric |
| Fireplace | No |
Exterior
| Exterior Features | Balcony, Boat Slip, Dock, Dog Run, Gray Water System, Lighting, Other, Playground, Private Yard, Storage |
|---|---|
| Lot Description | Acreage, Landscaped, Sprinkler System, Irregular Lot, Lrg. Backyard Grass, Many Trees, Other, Water/Lake View, Waterfront |
| Roof | Composition |
| Construction | Brick, Rock/Stone, Siding, Wood |
| Foundation | Slab |
School Information
| District | Little Elm ISD |
|---|---|
| Elementary | Oak Point |
| High | Little Elm |
Additional Information
| Net Operation Income | $74,000 |
|---|---|
| Gross Annual Income | $96,000 |
| Gross Annual Expenses | $22,000 |
| Insurance Expense | $7,000 |
| CapitalizationRate | 2.25 |
Unit 1 Details
| Type | 1 Bedroom |
|---|---|
| Full Baths | 1 |
| Rent | $1,600 |
| SqFt | 700 |
Unit 2 Details
| Type | 1 Bedroom |
|---|---|
| Full Baths | 1 |
| Rent | $1,500 |
| SqFt | 700 |
Unit 3 Details
| Type | 1 Bedroom |
|---|---|
| Full Baths | 1 |
| Rent | $1,700 |
| SqFt | 700 |
Unit 4 Details
| Type | 1 Bedroom |
|---|---|
| Full Baths | 1 |
| Rent | $1,240 |
| SqFt | 800 |
Unit 5 Details
| Type | 1 Bedroom |
|---|---|
| Full Baths | 1 |
| Rent | $1,700 |
| SqFt | 800 |
Unit 6 Details
| Type | 3 Bedroom |
|---|---|
| Full Baths | 2 |
| Rent | $2,500 |
| SqFt | 2,100 |
Listing Details
| Agent | Kristen Trest |
|---|---|
| Office | Ebby Halliday Realtors |