SoldDec 16, 2022

Listed by Logan Waller and Logan Waller from Waller Group LLC

, 

Bought with Travis Johnson

Source: North Texas Real Estate Information Systems, Inc. #20098246

1724 Pear St, Dallas, TX, 75215

Amount undisclosed

6
1720 sq. ft.
6054.84 sq. ft.

MultiFam

•

30+ days on the market

Sold: Dec 16, 2022

What's around 1724 Pear St

About this property

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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