Historical Multifamily Sale Listing - Wyndham on the Creek

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Wyndham on the Creek

9633 Ferris Branch, Dallas, TX 75243

N/A

151 Units | Multifamily

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Wyndham Pool

Multifamily Property - Off Market

Price:
N/A
No. Units:
151
Building Size:
110,449 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Commission Split:
1%
Cap Rate:
9.07%
Gross Rent Multiplier:
5.41
Occupancy:
80%
No. Stories:
3
Year Built:
1985
Lot Size:
5.18 AC
Listing ID
16742010
Last Updated
over 1 year ago

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,

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.

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

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Created 6/29/2010