Active

577 Richlands Way

Fate, Texas 75087

$1,195,000 $5,038/Mo

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Overview

Bed

Bath

4,100

Sqft

0.13

Acre(Lot)

Description

Investor Opportunity in Downtown Fate! Fully leased 4-plex featuring four spacious 2-bedroom, 2-bath units, each approximately 1,025 sqft. Built with quality construction and modern finishes, including Euro-style cabinetry, quartz countertops, 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 and LED lighting. Located in the heart of growing Fate, close to I-30, George Bush Turnpike access, Lake Ray Hubbard, restaurants, shopping, golf, and local amenities. Strong rental market, stabilized income, and fully occupied—an excellent turnkey investment property.

Property Details

Property Type : Residential Income

Price : $1,195,000

AD Id : 80042371

MLS Id : 562328362

Beds : 8

Lot Size : 0.13 Acre

Living Area Size : 4,100

Year Built : 2024

County : Rockwall

Subdivision: Richardson Heights 2nd Sec

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total Bedrooms: 8

Bathroom Information

Total Baths: 8 Full Baths: 8
Interior Features

Cable TV Available,Flat Screen Wiring,High Speed Internet Available,Multiple Staircases,Smart Home System

Appliances

Dishwasher,Electric Cooktop,Electric Range,Microwave,Refrigerator

Utilities

All Weather Road,Asphalt,City Sewer,City Water
Cooling Features

Ceiling Fan(s),Central Air,Electric

Heating Source

Central,Electric

Building Information

Built Year: 2024 Building Area Total: 4,100 Construction: Brick,Stucco Roof Type: Asphalt,Other
Foundation

Slab
Construction Materials

Brick,Stucco

Lot Information

Lot Size (Acr): 0.1300 Lot Size Units: Acres Lot Size Square Feet: 5,663
Property Information

SQ ft (Living Area): 4,100 Property Type: Residential Income Property Sub Type: Quadruplex Subdivision: Richlands Plaza City: Fate State: Texas Directions: GPS Property Status: Active Levels: Two Property Age: 2 Year Built Details: Preowned

Listing Price Information

Original List Price: $1,195,000 List Price Tot SqFt: $291
Listing Information

Possession: Closing/Funding

Tax Information

Parcel Number: 000000336209 Tax Block: A Tax Legal Description: RICHLANDS PLAZA BLK A LOT 1 Tax Lot: 1 Unexempt Taxes: $10,916

Parking Information

Parking: 10 Parking Features: Common,On Street,Unassigned
Homeowners Association Information

Included Fees: Maintenance Structure,Management Fees HOA Type: Mandatory HOA: $180.00 HOA Frequency: Monthly

School Information

Elementary School: Vernon Middle School: Royse City High School: Royse City School District: Royse City ISD
Utility Information

Utilities: All Weather Road,Asphalt,City Sewer,City Water

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ByOwner last updated this listing 06/10/2026 @ 15:41

MLS: 562328362 LISTED BY: Chaz Cameli, Monument Realty 800-257-1242 SOURCE: NTREIS - North Texas Real Estate Information