The offering is a portfolio of three income producing apartment complexes totaling thirty two units. They are conveniently located to employment centers and highways. The properties are in the path of progress (less than half a mile) of high end lofts and apartments, restaurants and bars, retail and services on the south side of the CBD. Electricity is individually metered and paid by the tenants. The first property is a twelve unit complex with twelve 1 bed/1 bath units. The two story structure was built in 1960. The roof is pitched, covered with composition shingles. The second property is an eight unit complex with seven 2 bed/1 bath units and one 1 bed/1 bath unit. The two story structure was built in 1964. The roof is pitched, covered with composition shingles. The third property is a twelve unit complex with four 2 bed/1 bath units and eight 1 bed/1 bath units. The two story structure was built in 1964. The roof is flat, covered with tar and gravel.
Price Upon Req.300,512 SF
Highland Road Village is a 332 unit community \in Dallas, TX. The property is situated on 24 acres with great visibility on the heavily travelled Cockrell Hill Rd. There is little competition in the submarket and Highland Road Village benefits from some of the largest floor plans in the submarket at 905 sf average. Highland Road Village is currently 95% occupied. Highland Road Village has experienced a strong upward trend in revenue during 2014 as income is up 12% in December 2014 from January. New ownership has the opportunity to implement an interior upgrade program to achieve rents more in-line with the competitors. Based on the analysis of the rent comparables, the market can support rental increases of more than $60+ for one bedroom units and over $120 for the two bedroom units. Recommended upgrades include faux wood flooring, resurfaced countertops, staining/painting cabinets, upgraded lighting and brushed nickel fixtures. Highland Road Village current loan is roughly 6,650,000 at 6% interest with over 7 years left on the term. Along with this assumption, a new owner can place a supplemental loan to increase leverage.
Price Upon Req.15,660 SF
* Recently Renovated * Irreplaceable Infill Location - Within 1 Mile of Dallas Medical District - Minutes from Dallas CBD * Top Submarket Fundamentals * Surrounded by Newly Developed High-end Properties
$1,700,000Size Upon Req.
Very good return on this 40 unit Class C apartment complex. Turn-key staff in place and available to stay after sale or depart with sale. Roof replaced less than 3 years previous. Individual metered electric to each unit. Current cap rate of 6.37 with initiatives underway to raise cap rate to 8+ by end of 2015.
A beautiful example of the Mission Revival style of architecture, 4400 Gaston Avenue is one of the most recognizable historic properties in lower East Dallas. The apartment building has 16 units and is very sound and well maintained. The eight corner units have views in three directions because of the building configuration. There are double paned windows that preserve the integrity of the original wood framing and reduce utility costs. The flooring is all "red heart pine" hardwood; no longer sold. Wool carpet runners cover these hardwoods in the halls giving the building an upscale feel. Across the front are period stained glass windows adding a subtle architectural detail. Baylor Medical Center and the close proximity to downtown is the main source of the stability of the tenants. Comcast cable provides high speed internet access as well as HDTV in all units. Lighted parking in the rear has room for 16 cars. Note: One of the efficiencies was reconfigured to add a laundry room.
Excellent Investment property is great area...
Excellent investment property in great location.
Apx 203,164 SF comprised of several buildings constructed in 1980. There used to be NINE total buildings, but two have sustained fire damage and was demolished. There are a total of 156 remaining units out of 204 original units. This property is in BANKRUPTCY. In October 2013, the property was closed and vacated. Utilities was shut off and the property is vacant. This is a redevelopment project and the listing price is for LAND only (no value in the buildings). The buildings are in very BAD shape!
This 16 unit complex is located in one of the HOTTEST areas in Dallas. There are well over 1500 new Class A apartment developments within a 3 mile radius, making the area nonaffordable. This is a gated and secured community and the current owner has remodeled 8 out of the 16 units. Some of the remodels include new wood flooring, appliances, countertops, blinds, fans, AC controls and MUCH MORE. Professionally landscaped and irrigation system.