1724 Pear Street
Dallas, TX 75215
- – beds
- – baths
- – sqft
- 6,054 sqft lot
- 1925 build
- – on site
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Presenting 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 per unit, which is a $0.11 per 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. Proforma financials were underwritten with a 5% management fee.
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Last updated May 3, 2024
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MLS# 20098246 —
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Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
10/22/23
Oct 22, 2023
|
Listed / Active | NTREIS | ||
|
12/16/22
Dec 16, 2022
|
Sold | NTREIS | ||
|
10/25/22
Oct 25, 2022
|
Pending | NTREIS | $475,000 |