Waterfront - Golf Course
1216 Shahan Prairie Road, Little Elm, TX
$ 3,295,000
Property Attributes
  • MLS#20420836
  • TypeMulti-Family
  • CountyDENTON
  • CityLittle Elm
  • NeighborhoodDm Cule
  • Zip75068
  • StyleMultiple Single Units
  • Year Built1992
  • Taxes$ 12721
  • Price$ 3,295,000
  • Bedrooms8
  • Full Bathrooms7
  • Half Bathrooms0
  • Lot Size4.47 Acres
Data Source:
North Texas Real Estate Info Systems (NTREIS)
Property Description

Offering 4.5 ACRES of LAKEFRONT Property complete w Main House, a Guest house w 2 Apts & a 3 Unit APT Buildin PRODUCING currently over $75K Annually! Located on Lake Lewisville, nestled in the Cove at Oak Point in Little Elm at the Peninsula. Getting 3 new Roofs due to recent storm. HVAC replaced Dec 23. NO HOA or Deed Restrictions & room still to build out or add on. Property boasts a 3 Bed 2 Bath Main House with over 2,000 sq ft. Enjoy great views of the Lake from every angle. Separate Guest House with 2 Apartments & 4 car Garage, Plus a 3 Unit Apartment built in 2022, Each unit has 1Bed,Bth Kitchen & Living Area pus a Bay Garage *10ft High Doors* that it partially climate controlled in Garage plus a Storage Closet for each Unit. Also has shared Laundry & Ice Machine downstairs. Property has 2 slip Boathouse w Active Permit. Make this your own little piece of Texas and enjoy the Sunrise & Sunsets along with Fishing, Swimming & a relaxed Lake-Lifestyle all year round!

Elementary School
Oak Point Elementary School
Price History
10/10/2023 Listed $3,600,000
10/10/2023 3% - $3,495,000
12/31/2023 3% - $3,395,000
4/20/2024 3% - $3,295,000

General Features

Heating Central,Electric
Complex Name 1216 1217 Shahan Prairie
Cooling Ceiling Fan(s),Central Air,Electric
Utilities Aerobic Septic,Private Sewer,Private Water,Septic,Water Tap Fee Paid,Well
Possession Negotiable
Roof Composition
Appliances Dishwasher,Disposal,Electric Cooktop,Gas Water Heater,Microwave
Number of Garage Spaces 9
School District Little Elm ISD
Capitalization Rate 2.25
Exclusions Curtains and rods in the Kitchen,Upstairs Den,and Master Bedroom. ALSO,New INSURANCE CLAIM to repair or replace Boathouse due to huge May storm.
Year Built 1992
Tenancy Lease While on Market,Over 9 Months
Community Features Fishing,Lake,Laundry
Levels Two
Unexempt Taxes 12721
Will Subdivide Subdivided
Gross Annual Expenses 22000.00
Property SubType Multiple Single Units
Subdivision Name Dm Cule
Insurance Expense 7000
County Denton
Operating Expense Includes Trash,Utilities,Water/Sewer
Property Type Residential Income
Construction Materials Brick,Rock/Stone,Siding,Wood
Year Built Details Preowned
Accessory Unit Type Guest Quarters
Accessory Unit YN Yes
HOA Type None
Special Notes Flood Plain,Survey Available,Verify Tax Exemptions
# of Buildings 4
Status Active
Directions GPS best. Once you turn on Shahan Prairie Rd,go almost to the end of the peninsula. Property has 2 driveways,into the Main & Guest House,plus the Apartment BLDG. . Enjoy the views on this Beautiful 4
City Little Elm
Buyer Agent Compensation 2.5
Elementary School Name Oak Point
High School Little Elm
Street Name Shahan Prairie
Elementary School Oak Point
Virtual Tour URL Unbranded https://www.propertypanorama.com/instaview/ntreis/20420836
Standard Status Active
Buyer Agent Compensation Type %

Interior Features

Interior Features Cable TV Available,High Speed Internet Available
Flooring Tile
Occupancy Rate 80
Total Units 6
Unit Count 6
Full Baths 7
Lock Box Type Blue BT LE
Street Suffix Road
Total Bedrooms 8

Exterior Features

Waterfront Yes
Exterior Features Balcony,Boat Slip,Dock,Dog Run,Gray Water System,Lighting,Playground,Private Yard,Storage,Other
Lot Features Acreage,Irregular Lot,Landscaped,Lrg. Backyard Grass,Many Trees,Other,Sprinkler System,Water/Lake View,Waterfront
Fencing Metal
Lot Size Source Appraiser
Parking Features Garage Double Door,Additional Parking,Boat,Circular Driveway,Common,Concrete,Deck,Driveway,Garage,Garage Door Opener,Garage Faces Front,Garage Faces Side,Golf Cart Garage,Gravel,Heated Garage,Inside
WaterFront Features Lake Front,Lake Front – Corps of Engineers
Lot Size 3 to < 5 Acres
Covered Spaces 9
Foundation Slab
Lot Size Area 4.4700
Number Of Parking Spaces 9
Lot Size Units Acres
Building Area Total 4643.00
Garage Y/N Yes
Lot Size Square Feet 194713.2000
Lot Size Acres 4.4700
Patio And Porch Features Front Porch,Patio
Attached Garage Y/N Yes


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 75068

AVG $1.99M
AVG $12,721
AVG 541
Data Provided by Inside Real Estate®
Year Built
AVG 1998

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