This property is Off-Market

9633 Ferris Branch
Dallas, TX 75243 ·

151 Units · Multifamily For Sale

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Wyndham on the Creek

Price N/A Commission Split 1%
No. Units 151 Cap Rate 9.07%
Building Size 110,449 SF Gross Rent Multiplier 5.41
Property Type Multifamily No. Stories 3
Property Sub-type Garden/Low-Rise Year Built 1985
Property Use Type Investment Lot Size 5.18 AC
Listing ID: 16742010 Date Created: 06/29/2010 Last Updated: 07/17/2014

Description

Wyndham on the Creek is a garden style apartment building originally built as
Condominiums in 1985 and a full apartment complex consisting of 151 units.

The property consist of 7 floor plans of 1 and 2 bedroom units ranging from 655 SF to 1100 SF for the large 2 bedroom units. With 9 foot ceilings, wood cabinetry, large patios, washer dryer connections, microwaves, fireplaces and
vaulted ceiling (top floor) these units certainly stand out in the area.

Each unit as its own hot water heater, a/c and heat. Tenant pays its own electric and water is billed back "Rubs" system.

The property sits on over 5 acres with controlled access gates. Exterior the property is brick/wood with pitched comp roofs.

A separate leasing office/clubhouse is adjacent to the swimming pool. Parking is asphalt and approximately 228 spaces.

The owner has just installed new water saving toilets, shower heads and faucet aerators in every unit that should produce a $20k-$25k savings per year.

Located just off 635 (LBJ) and Skillman in north east Dallas. The Skillman area has seen numerous units torn down for new retail, dart transit which should increase future apartment demand. The DFW area is expected to be 95% occupied in the 4th Qtr of 2011 based on studies performed.

Highlights

  • 151 Unit garden apartment complex
  • Individual heat and a/c, tenant pays electric, water billed back Rubs system
  • Individual hot water heaters per unit
  • Pitched Composition Roofs replaced in 2006
  • Swimming pool, clubhouse, controlled access gates
  • 9' vaulted celings, condo finishes, washer dryers, microwaves, wbfp,

Research

9633 Ferris Branch, Dallas, TX 75243 (Dallas County)

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