205 E 12th St
Dallas, TX 75203
205 East 12th Street · Multifamily Property For Sale · 7 Units

The asset consists of one, two-story building on 0.14 acres of land. The building is constructed with D-wood framing, pitched roof, and central heat/air. The owner has recently converted to individual meters, giving a new investor the ability to switch the utility expenses to the tenants. Tenants pay their own electricity, but the current property owner pays for water and gas. The asset has an excellent unit mix of 57 percent two-bedroom units. The remaining are one-bedroom units, except for one unit that features one-bedroom with two baths. Existing rents are below the market average per square foot. An investor can potentially systematically raise rents to be in line with the market average, as well as increase rates by 3 percent to 4 percent year-over-year. The asset has reportedly received over $132,000 in capital improvements, since 2015 to present. Items include, but are not limited to flooring, electric stoves, A/C units, all new electrical equipment and wiring (2016), all new plumbing and water lines (2016), all new tile/laminate, paint, wood siding on the exterior, and a new roof in 2015 - reported by seller. Presently, ownership pays a tenant to be in charge of maintenance repairs. A new investor can hold onto this asset to achieve higher value or it can be leveraged as a great opportunity for redevelopment, providing several options to achieve an optimal return on investment. In addition, new ownership is encouraged to dispute the current property taxes. All Unit Square Footage is Estimated Due to Ownership Not Knowing Exact Square Feet