The Village of Stonewood, Lufkin, TX
This unique 55 unit detached condominium project was created in August 2005 in one of the best areas of Lufkin Texas. Located in the southeast quadrant of the city and only 2.7 miles southeast of the loop on Highway 58 which is also known as Chestnut. This 7.87 acre tract is perfectly located and is within a 5 minute drive of the major banks, restaurants and shopping areas of Lufkin. The Village of Stonewood is within the city limits of Lufkin Texas and has all city services. This area is mostly larger properties with larger homes.
This is one of the best locations in Lufkin.
Unlimited Possibilities
Manufactured Homes
A used mobile or manufactured home can be purchased and placed upon the site and would then be remodeled and it could then be put into the rental pool with a rent of between $900 and $1000 per month, or more. That refurbished structure could also be sold as an owner occupied unit with either bank or with “owner/developer financing”. A new manufactured home could be placed on the site and either put into the rental pool or sold.
The existing units can be kept in the rental pool or they could be sold either with the land or the structure only with a new buyer paying monthly rent on the site.
Site Built Homes
A stick built structure with either pier and beam or a concrete slab could also be put into the rental pool or sold as an owner occupied unit. That would be a permanent, permitted structure that can be sold with a 30 year mortgage as it is all real property.
Lease or Sell
The new developers have the option of renting, selling, carrying the paper for the buyers or an outright sale with cash or conventional loans.
The Village of Stonewood is an opportunity for someone to purchase this first quality property that can be expanded and grown in the direction determined by the new owners to get their best return.
Room For Future Expansion
There are 18 permitted sites in these two areas, one at the center of Stonewood and the other at the rear of Stonewood for future expansion as setup by the “Founding Documents” that created The Village of Stonewood.
These Units can be rented or sold depending on the new developers needs.
