6315 Richmond Avenue

Dallas TX 75214

0.29 ac.

Multi-Family

Currently for sale - view listing

Overview

Waller Group is proud to present the 87.5% occupied, 8-unit value-add property in Dallas, TX. The owner has recently upgraded the appliances in the units. Each unit has stackable washer & dryers available and their own HVAC unit. The owner is responsible for water & sewer expenses, but management currently bills back $50 per unit per month. Based upon area rent comps, rents can be raised up to $464 per unit, which is a $0.66 per sqft bump. With this bump and leasing up the vacant unit, new ownership can achieve an annual NOI of $81,239. There is the opportunity to implement additional income fees through late fees, MTM fees, and parking fees. Current mgmt is willing to stay on for new ownership at 6.0% of EGI.

Features

8 carspaces

0.29 ac. lot size

Multi-Family

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