Multi-Unit Residential Income
900 Reese Lane Azle, TX 76020
900 Reese Lane, Azle, TX, 76020
$1,350,000
For Sale
$1,350,000
Six occupied 2-bedroom, 1-bath houses built in 2005 sit on over 2 acres with active well and two septic systems.
Property Size7,816 SF
Price / SF$172.72
Days on Market422
Property Features for 900 Reese Lane
General Information
- Standard status
- Active
- Size
- 7,816 SF
- Property subtype
- Multi-Family / Multiple Single Units
Building Details
- Year Built
- 2005
Listing agency
The Michael Group Real Estate
(817) 925-0204
Listed by
Brett Ashcraft · License #0563836
(817) 925-0204
Source
Compass
Added: May 27, 2025 Updated: Jul 22 at 9:34AM Checked: Jul 22 at 9:34AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Michael Group Real Estate
Investment Insights
Based on property information with market context.
This income producing residential property features six identical 2-bedroom, 1-bath houses built in 2005. The homes are on slab foundations and are currently occupied by long term tenants. A mobile home is present but has no value; the remark indicates it could be removed to create a build site, with existing septic available.
The property is situated on more than 2 acres in west Azle, Texas. It has an active well and two septic systems. Please do not disturb tenants; showings are by appointment only after an acceptable offer has been signed.
The listing presents a straightforward multifamily configuration with six separate occupied units, each following the same basic layout and build timeframe.
The property is situated on more than 2 acres in west Azle, Texas. It has an active well and two septic systems. Please do not disturb tenants; showings are by appointment only after an acceptable offer has been signed.
The listing presents a straightforward multifamily configuration with six separate occupied units, each following the same basic layout and build timeframe.
Key Highlights
- Income‑producing property with 6 occupied 2‑bedroom, 1‑bath houses built in 2005
- Over 2 acres in west Azle; all units on slab foundations
- Active well plus two septic systems on the property
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $242.0k | $30.96 |
| − Vacancy | −$25.9k | −$3.31 |
| EGI | $216.1k | $27.65 |
| − OpEx | −$97.2k | −$12.44 |
| NOI | $118.9k | $15.21 |
7,816 SF · lease $30.96/SF/yr · vacancy 10.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.70M
$1.49M – $1.98M
NOI $118,850 @ 7.0% cap · market cap 8.80%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$7.77M
$6.80M – $9.06M
NOI $543,652 @ 7.0% cap · market cap 40.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Six occupied 2-bedroom, 1-bath houses built in 2005 sit on over 2 acres with active well and two septic systems.
Where is this apartment building located?
The property is located at 900 Reese Lane Azle, TX.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Income‑producing property with 6 occupied 2‑bedroom, 1‑bath houses built in 2005; Over 2 acres in west Azle; all units on slab foundations; Active well plus two septic systems on the property
