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3353 Lombardy
Dallas, TX 75220 ·

308 Units · Multifamily For Sale

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Bayou Bend

Price N/A Cap Rate 7.10%
No. Units 308 Gross Rent Multiplier 5.22
Building Size 236,868 SF Occupancy 96%
Property Type Multifamily No. Stories 3
Property Sub-type Garden/Low-Rise Year Built 1981
Property Use Type Investment Lot Size 9.78 AC
Listing ID: 15790713 Date Created: 07/07/2008 Last Updated: 12/31/2008

Description

This 80s built, 308 unit apartment complex provides a solid cash flow for an investor that is wanting a value add play located close to a new light rail station coming in 2010. With solid occupancy over 90 percent consistently, and the submarket showing sign of increasing rents, this property is poised to increase cash flow for a savvy investor looking for some upside.

Located on Lombardy, just west of Webb Chapel Extension, and east of Denton Rd./DART Rail Line,

Highlights

  • Assumable Interest Only Financing - 6.04%
  • Upside in Rents
  • Well Located - DART Rail Station in 2010
  • Seller Will Consider Unique Financing to a Qualified Buyer
  • 16% Cash on Cash - Proforma - Burn Off Concessions

Research

3353 Lombardy, Dallas, TX 75220 (Dallas County)

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