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Luxurious Condominiums With Gorgeous Lake Views

$935,000

140 Banister, Canyon Lake, TX 78133

Active
Last Updated: 10/14/2021

9.4

Cap Rate

5,006 sqft

Building Size

Details:
Cap Rate:    9.4%
Building Size:    5,006 sqft
Lot Area:    2.64 acres
Keys:    4
Year Built:    2006
Highlights:
  • 2.64 Acre Tract with Room for Additional Improvements
  • Commercial Septic System Has Capacity for Additional Condominium
  • Billboard Lease for Additional Income
  • Public Park and Boat Ramp Located Across the Street
  • Updated Condo Units with Sunset Views of Canyon Lake
  • Short-Term Rental Units
  • Turn-Key Everything Stays!
  • All Utilities Ready for Expansion
Description:

Still Water Ranch Condominiums, located 3 miles north of Canyon Lake Dam, offers multiple hospitality opportunities presently and in the future. It's ideal for a buyer who wants to continue the current operation or add additional condos to expand the income potential. There is also enough land included to develop boat and RV storage or other business opportunities.

Offers 4 two-bedroom Condo completely furnished with fully equipped kitchens, stainless steel appliances, one king size bed plus a combination of Queen and/or bunk beds for the kids, sleeping up to eight. Each condo has an upstairs private balcony with gorgeous views of the lake and hill country. Bathrooms have large tile walk-in showers, and large vanities. Each unit is equipped with high speed internet and multiple flat screen TV's. This 4 Unit Condo sits on 2.64 acres that has a sand volleyball court, concrete basketball court, outdoor fireplace, outdoor pavilion w/ kitchen, rock patio under the oaks and more land to add additional improvements.

Map:
Documents:
Title
Offering Memorandum
2016 Income & Expense
2017 Income & Expense
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Location
Gallery