1724 Pear St

05-17-2022
06-29-2022

1724 Pear St, Dallas, TX 75215

  • 6 Units
  • 7.04% Pro Forma Cap
  • 83.3% Occupancy
  • Dallas, TX

Property Description

The Waller Group is proud to present the 83.3% occupied, 6-unit value-add property in Dallas, TX. The property is available because current ownership is looking to reinvest proceeds. The subject property has been completely renovated with new plumbing, electrical, roof, windows, flooring, cabinets, fixtures, and more. Current ownership has invested over $164,000 in capital improvements over the last 5 years into the property with over $34,000 of capital improvements made over the last 6 months. New ownership, based upon area rent comps, can raise rents up to $72 / unit, which is a $0.11 / sqft bump. With this bump, new ownership can achieve an annual NOI of $35,178. Additionally, there is the opportunity to implement additional income through lease violation fees and parking fees. The property is currently managed by Waller Group Property Management. Proforma financials were underwritten with a 5% management fee.

 

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Price
$ 500,000
Average Occupancy
83.3%
Year Built
1925
Building Size
3,805 Sq ft
Opportunity Zone
Off
Price per unit
$ 0
View broker details
Sign in to use the inquiry form

32.751966, -96.764748