8-Unit Lakefront Multifamily
5280 Atwell Lane, Denton, TX 76208
For Sale
$1,400,000
ResidentialIncome, Denton, TX
Property Size5,604 SF
Lot Size1.03 Acres
Price / SF$249.82
Days on Market52
Property Features for 5280 Atwell Lane
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Parking features
Interior features
Exterior features
Appliances
Subdivision
Lot features
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Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Water front features
Water front
Amenities
covered porches
gated community
security cameras
Building Details
Year built
Floors in Building
Number of units
Flooring type
Roof type
Additional Structures
Listing Agency:
INC Realty, PLLC
Listed By:
Leslie Schmidtke
(972) 351-1095
Added: Sep 20
Changed: Nov 10
Last Checked: Nov 10 at 10:06PM
MLS# 21391558
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The 5,604-square-foot property contains eight residences on 1.033 acres: two three-bedroom, two-bath homes, two two-bedroom, one-bath homes, and four one-bedroom, one-bath cottages. Each residence has a covered porch. The property was built in 1986 and includes a fenced perimeter, gated access, security cameras, and monitoring equipment. An on-site storage container holds lawn and maintenance supplies.
The property fronts the lake and backs onto U.S. Army Corps of Engineers land, with walking access to the water. Water service includes two city meters, while a private well is used for irrigation. The site also has aerobic septic service. Additional space is noted for a potential cottage.
The property fronts the lake and backs onto U.S. Army Corps of Engineers land, with walking access to the water. Water service includes two city meters, while a private well is used for irrigation. The site also has aerobic septic service. Additional space is noted for a potential cottage.
Key Highlights
- Eight residences: two 3‑bedroom, 2‑bath homes; two 2‑bedroom, 1‑bath homes; and four 1‑bedroom, 1‑bath cottages
- 5,604 square feet on 1.033 acres
- Lakefront setting with walking access to the water; backs onto U.S. Army Corps of Engineers land
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,214
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,704,280
$1.7M
Cap Rate 7%
$1,217,343
$1.2M
Cap Rate 9%
$946,822
$946.8K
Market Conditions
NOI Build-Up for 5,604 SF
Gross rent
$173.5K $30.96/SF
− Vacancy
−$18.6K −$3.31/SF
EGI
$154.9K $27.65/SF
− OpEx
−$69.7K −$12.44/SF
NOI
$85.2K $15.21/SF
Area
Denton, TX
Vacancy
10.70%
Lease Rate
$30.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,704,280
Cap Rate 7%
$1,217,343
Cap Rate 9%
$946,822
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.07M – $1.42M
NOI $85,214 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,561 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
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Business Placement
Demographics for 76208, TX
27,084
Population
9,440
Households
2.9
Avg Household Size
35
Median Age
35%
College-Educated
90%
High-School Grad
27.4 sq mi
ZIP Area
988
Density / Sq Mi
$90,833
Median Household Income
$46,843
Median Earnings
$1,591
Median Rent
$358,000
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Denton, TX
Properties on Market for Multifamily properties in Denton
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Eight residences with covered porches form a gated community beside the lake.
Where is this multifamily property located?
The property is located at 5280 Atwell Lane Denton, TX.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Eight residences: two 3‑bedroom, 2‑bath homes; two 2‑bedroom, 1‑bath homes; and four 1‑bedroom, 1‑bath cottages; 5,604 square feet on 1.033 acres; Lakefront setting with walking access to the water; backs onto U.S. Army Corps of Engineers land
