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Henderson Flats 1820 N Garrett Ave 28 Unit Apartment Building $4,095,000 ($146,250/Unit) 6.19% Cap Rate Dallas, TX 75206
INVESTMENT HIGHLIGHTS
- Strong Value-Add Potential with ~25% Rental Upside Post-Renovation
- Median Owner-Occupied Housing Unit Value of $704k Within the 3-Mile Radius
- Direct Access to the 110,000+ Jobs Within a 1-Mile Radius of Dallas’ Central Business District
- In-Unit Washer/Dryers
- Median Household Income in Excess of $105k Within the 3-Mile Radius
EXECUTIVE SUMMARY
Broker of Record
Patrick Graham
License # 9005919 (TX)
Matthews Real Estate Investment Services, Inc
8300 Douglas Ave., Ste. 750, Dallas, TX 75225
Patrick Graham
License # 9005919 (TX)
Matthews Real Estate Investment Services, Inc
8300 Douglas Ave., Ste. 750, Dallas, TX 75225
PROPERTY FACTS
| Price | $4,095,000 | Building Class | B |
| Price Per Unit | $146,250 | Lot Size | 0.62 AC |
| Sale Type | Investment | Building Size | 26,877 SF |
| Cap Rate | 6.19% | Average Occupancy | 93% |
| No. Units | 28 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1985 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | MF2A | ||
| Price | $4,095,000 |
| Price Per Unit | $146,250 |
| Sale Type | Investment |
| Cap Rate | 6.19% |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.62 AC |
| Building Size | 26,877 SF |
| Average Occupancy | 93% |
| No. Stories | 3 |
| Year Built | 1985 |
| Parking Ratio | 1/1,000 SF |
| Zoning | MF2A |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Tile Floors
- Hardwood Floors
- High Speed Internet Access
- Views
SITE AMENITIES
- 24 Hour Access
- Security System
- Tenant Controlled HVAC
- Gated
- Trash Pickup - Curbside
- Volleyball Court
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 28 | - | 610 - 675 |
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Walk Score®
Very Walkable (80)
PROPERTY TAXES
| Parcel Number | 00000155509000000 | Improvements Assessment | $1,721,760 |
| Land Assessment | $1,478,240 | Total Assessment | $3,200,000 |
PROPERTY TAXES
Parcel Number
00000155509000000
Land Assessment
$1,478,240
Improvements Assessment
$1,721,760
Total Assessment
$3,200,000
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