577 Richlands Way, Fate, TX 75087

$1,158,900
: 8
BD
: 8
BA
: 4,100
SqFt

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List Price: $1,158,900
Price Change: ▼ $36,100 1783568997
MLS#: 21274734
Status: ACTIVE
Type: Multifamily
Subtype: ResidentialIncome
Year Built: 2024
Bedrooms: 8
Bathrooms: 8
Acres: 0.13
Living Area: 4,100
County: Rockwall
City: Fate
Subdivision: Richlands Plaza
Building Name: Fate - Yrc

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Property Description

Investor Opportunity in Downtown Fate! Fully leased 4-plex featuring four spacious 2-bedroom, 2-bath units, each approximately 1,025 sqft. Built in 2024 with modern finishes, quartz countertops, Euro-style cabinetry, tiled backsplashes, electric appliances, open floor plans, ensuite bedrooms, walk-in showers with tiled surrounds, Low-E windows, spray foam insulation, fire-rated walls between units, and energy-efficient appliances. Located in one of the fastest-growing areas of Fate, this property sits near major local growth and future commercial development, including the planned Fate Yards project at Memorial Parkway and I-30. Fate Yards is expected to bring a large-scale entertainment, dining, retail, office, hospitality, gym, movie theater, greenspace, and restaurant destination to the area, further supporting long-term rental demand and neighborhood convenience. With stabilized income, full occupancy, and proximity to I-30, George Bush Turnpike access, Lake Ray Hubbard, shopping, dining, and future commercial amenities, this is an excellent turnkey investment opportunity in the path of growth. Buyer and buyer’s agent to verify all development plans, timelines, tenants, approvals, and future area improvements.

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