Vacant Medical Office building with approximately 2 acres of land.
3911-3917 Hall Street is an 18-unit multifamily property that is 100% occupied and is surrounded by new development.. 3911 Hall Street was constructed in 1916, 3913 Hall Street was constructed in 1972 and 3917 Hall Street was constructed in 1937. Construction is of wood siding and stucco exteriors with a combination of pitched composition shingle and flat mansard roofs.
2 Story, 2 Bedroom, 2.5 Bath, 966 Sq Ft Town-home Units - North Dallas Location. Close to High Five Interchange (I-635 & Hwy 75) - Richardson Independent School District - Individually Metered for Electricity - Individual HVAC and Water Heaters - Pitched Roof, All Brick Exterior - Individually Parceled Condos - Potential to sell as individual units (Buyer to verify) - Over $75,000 in Capital Improvements - New Roof in 2012 - Most Units Renovated in Last 2 Years - 26 Parking Spaces - 6 Camera Surveillance System - Cap Rate and GRM based on Proforma (End of Year 1)
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.168,968 SF
Plaza Del Lago is a 320 unit asset built in 1982 in Dallas, TX and is currently 95% occupied. The property experienced an upward trend in income in 2014. Rents were recently increased at the property. New leases are being signed $45 higher per month than the effective rents per the rent roll. Plaza Del Lago is a stable asset that offers buyers proven upside in burning this loss to lease as well as the opportunity to push rents through further interior upgrades. The property has a history of maintaining high occupancy due to low turnover at the property and strong local economy. Plaza del Lago is offered free and clear of existing financing, allowing buyers unrestricted debt options in an extremely competitive financing environment. Please contact us for quotes we have already obtained.
Price Upon Req.193,792 SF
Providence is a 244 unit community built in 1980 on 8.37 acres in Dallas, TX. The property features eight unique one and two bedroom floor plans (including 40 townhomes) that create a spacious average unit size of 794 sf. 124 units (all except the two smallest floor plans) are equipped with full sized washer/dryer connections. The property offers excellent amenities including a separate leasing office, clubhouse, swimming pool, fitness center, business center, sport court, playground, laundry center and secured entry gates. Providence is currently 93% occupied and has experienced a strong trend in revenue throughout 2014 and into 2015. This increase in revenue has come despite the lack of a formal upgrade program at the property. Based on the analysis of rental comparables, the market can support rental increases of at least $100 on our one bedroom floor plans and $150 on our two bedrooms. A new owner will be able to capitalize on this upside in a market where upgraded units are all receiving much higher rental premiums. Providence is offered free and clear, allowing a buyer to acquire with historically low cost, permanent financing.
Price Upon Req.1,800 SF
1800-2000SF of Urban living. Floor-1 (2 Car garage, utility room), Floor-2 (large living room, kitchen, half bath, closet), Floor-3 (master bed with full bath, study, bedroom with full bath), Floor-4 (Studio, bar, Terrace).
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
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.
198 of total of 248 units for sale in this 80's vintage C Class asset. Financial information reflects income/expenses on only 187 units. Remaining units may be obtained as well from other owners. Seller controls Home Owners Assoc. and HOA management as well as his own management staff. Good unit mix with unique floor plans. Private patios or balconies in every unit. Individual HVAC units, pitched roofs, swimming pool. Family community convenient to schools, shopping, bus line. Historically high occupancy with below market rents. Upside by completing property renovations and increasing rents accordingly.