4724 E University Drive Denton, TX 76208
0.28 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
Subdivision M Forrest
MLS Listing ID 21409016
HOA Y/N None
Annual Tax Amount $2,363
Lot Size 0.281 Acres
Acres 0.281
Property Sub-Type Unimproved Land
Property Description
Located directly off Highway 380 in a rapidly developing area of Denton County, this open lot offers excellent investment potential with an existing water well that currently supplies water to 11 neighborhood homes.
The homeowners are currently receiving water at no charge, and the seller does not have any payment agreements or contracts in place with the homeowners. There is potential to establish agreements and generate monthly income from the well. At $200 per home, 11 homes could generate approximately $2,200 per month in gross revenue. The average electric bill to operate the well is approximately $50 per month.
All major components of the water well system have been fully upgraded, including the pump, pressure pump, dual pressure tanks, electrical box, and insulated well cap. The system is in excellent condition per the seller.
The property also offers additional space with water and electric available, creating potential for another income-producing opportunity.
IMPORTANT: Seller will only sell this property together with the nearby home at 1809 N Trinity Road, Denton, TX (MLS #20921141). The home sits on approximately 1.75 acres and features a large metal workshop, oversized garage, swimming pool, and spacious yard.
Multiple neighboring property owners have also expressed interest in selling, creating a possible opportunity to combine up to four properties totaling approximately 3.5 acres along Highway 380.
With the rapid growth along Highway 380, this is a unique opportunity to purchase property with an upgraded water well, potential future income, and room for expansion or development.
BUYER TO VERIFY ALL RESTRICTIONS, ZONING, WATER WELL OPERATIONS, WATER SERVICE AGREEMENTS, PERMITTED USES, AND DEVELOPMENT POTENTIAL WITH DENTON COUNTY AND ALL APPLICABLE AUTHORITIES.
Location
State TX
County Denton
Zoning No known restrictions
Direction Located directly off of HWY 380
Exterior
Utilities Available All Weather Road, Electricity Connected, Private Water, Sidewalk, Well
Street Surface Concrete
Lot Frontage 124.0
Garage No
Building
Lot Description Cleared, Interior Lot, Level, Lrg. Backyard Grass, Other
Schools
Elementary Schools Hodge
Middle Schools Strickland
High Schools Ryan H S
School District Denton Isd
Others
Restrictions Unknown Encumbrance(s)
Acceptable Financing Cash, Conventional, VA Loan
Listing Terms Cash, Conventional, VA Loan
Virtual Tour https://www.propertypanorama.com/instaview/ntreis/21409016
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