Multifamily For Sale

3919 Sidney St
Dallas, TX 75210
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Sale Overview

Price:$725,000
Number of Units:15
Building Size:9,415 SF
Property Type:Multifamily

Highlights

  • Actual CAP rate 8.3%, Year 3 Pro Forma CAP rate 12.9%
  • Value Add: Rents are under market by 48%
  • Favorable location with easy access to Downtown Dallas
  • Gated secured-access rear parking
  • Featuring on-site laundry facilities and private resident courtyard

Description

3919 Sidney is a 15 unit, gated community with a private resident courtyard. This property features convenient on-site laundry facilities for residents. There is a great value add opportunity to be had with this property. Raising the 48 percent under-market rents, and leveraging professional management services will add significant value to this community. The property has close proximity and easy access to the Downtown Dallas area. Please review the offering memorandum for more information.

Location

Dallas-Fort Worth-Arlington is the 4th largest metropolitan area in the nation. According to data from US Census Bureau, the DFW metro area gains another person every four minutes and ten seconds. Dallas is the 9th most populated city in the US and 3rd most populated city in the state. Since 2006, Dallas has added households at an annual rate of 2.0%. The growth forecast, according to Reis, is 2.9% for 2016 and 2017.

The fast-paced growth is generating a dynamic multifamily market for the city. Average asking rental rates have risen steadily since 2009. Q4 2016 showed delivered units swell to 23% to hit a record of 6,499 completions during the final quarter.

Contact Broker

SquareLogan Waller
Broker/Owner
TX #479147
logan@loganwaller.com
(C) 214.704.5001
(O) 214.736.1502
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Documents


Website file type pdfOffering Memorandum
Updated about 1 month ago