This is an interesting multi-family opportunity near downtown Dallas.
This portfolio consists of 3 x 4-plexes, 12 units (doors) altogether.
| 1) 8003 Rothington RD #41-47K | Dallas – 4-Plex |
| 2) 8003 Rothington RD #21-27h | Dallas – 4-Plex |
| 3) 8005 Rothington RD #11-17M | Dallas – 4 Plex |
Listing Price:
1) $199,000
2) $193,000
3) $183,000
Occupancy Rate: 100% (Average 96%).
Current Rental:
1) $625/$625/$625/$550 = $2,425 per month / $29100 p.a. / Gross: 14.6%
2) Same as 1) = $29,100 p.a. / Gross: 15.1%
3) $550/$550/$550/$510 = $2,160 per month / $25,920 per year / Gross: 14.2%
Area Analysis
This is not known as the best area but there are a lot of development going on and we can see many transformations happening here. This area does have some active criminal activities – mostly relating to theft but violent crimes had dropped.
About The Property
These proeprties are showing some interesting opportunities:
1. The average rent in the area and across DFW has been increasing, but the rent in these apartments have actually dropped, this is probably a sign in tenant mix.
2. There is an immediate upside to increase the rent to the market rent – which can increase the yield.
3. The mix of the tenants are unknown – the seller did not disclose the information, but we do know some tenants are Section 8 tenants which is why they are paying under the market rent.
4. The properties were improved 2 to 3 years ago with major interior renovations.
5. The schools nearby are averaged rated (not poorly rated), and there are actually many families moving to this neighborhood, many are new families moving to Dallas.
6. The same owner owns these properties, and they have been on market for a while, and they are motivated sellers especially if somebody wants to make an offer on all the properties together.
Thomas Su
Realtor
Keller Williams Realty
18383 Preston Rd. Ste 150
Dallas, TX 75252, USA
Email: rwp1688@gmail.com
(469) 347 1839