Multifamily Investment Opportunity
Acquisition Price:
$8,300,000
6 Buildings - 3.43 acres - 71,201 SF
Grow your portfolio and take advantage of a C-Class value-add investment opportunity. This property is located in the revitalizing Oak Cliff area of Dallas, Texas where continued rent growth has out-performed the metro average for lower and mid-tier assets. The property is primed for a new owner take an already high performing property with a healthy cash flow, and continue to add value in multiple ways, 1) interior updates to 100% of the units, 2) exterior cosmetic updates, 3) landscaping updates, 4) water saving devices, 5) implementing utility bill back from the residents. The resulting rent increases can be as much as $75/unit. Built in 1973 & Renovated in 2015. Master metered gas, electric, and sewer. Hot Water from gas fired boilers in good working condition. HVAC in good condition.
AMENITIES:
Large courtyard common areas
Children’s playground in common areas
Security patrol
On-site laundry facilities
All electric appliances
Central property office and mailboxes
Ample parking
Average unit size of approximately 574 sq ft
Large walk-in closets
Separate dining area
Two-tone paint finish
Vinyl tile flooring throughout for ease of maintenance
Frost-free refrigerators
Mini-blinds
Metal front doors (new)
TOTAL RENTAL INCOME: $1,106,937.00
OPERATING EXPENSES: $548,296.00
NET OPERATING INCOME: $591,015.00
CAP RATE: 7.1%
"Invest Wisely"
PROMISE LAND REALTY, LLC
Work: 313-307-6616
sarter@promiselandrealtyllc.com
All Off Market Properties are Sold As-Is. Buyer must do their due diligence. Sold on Warranty deed. We are selling our assignable interest. Proof Of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. *Realtors add your fee on top*