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2460 Doreen St 8 Unit Apartment Building $1,465,000 ($183,125/Unit) 7.97% Cap Rate Grand Prairie, TX 75050
Investment Highlights
- Large townhome-style floor plans with private patios, uncommon at this unit count
- ~$25,000/unit invested since 2023: new roof, HVAC, and renovations across 7 of 8 units
- 00% occupied as of underwriting — immediate, stabilized in-place cash flow
- High in-place cap rate of 7.97% with proven rents minimizing lease-up risk
- One unrenovated unit offers a clear, low-risk path to additional rent premium
- Median household income of approximately $60,000 within a 5-mile radius
Executive Summary
Patrick Graham
License # 528005, 9005919 (TX)
Matthews Real Estate Investment Services, Inc
2699 Howell St., Suite 400, Dallas, TX 75204
(866) 889-0550
License # 528005, 9005919 (TX)
Matthews Real Estate Investment Services, Inc
2699 Howell St., Suite 400, Dallas, TX 75204
(866) 889-0550
Property Facts
| Price | $1,465,000 | Apartment Style | Garden |
| Price Per Unit | $183,125 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.48 AC |
| Cap Rate | 7.97% | Building Size | 9,768 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1976 |
| Price | $1,465,000 |
| Price Per Unit | $183,125 |
| Sale Type | Investment |
| Cap Rate | 7.97% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.48 AC |
| Building Size | 9,768 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1976 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 6 | - | 1,329 |
| 4+2 | 2 | - | 1,429 |
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Fairly walkable
40/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 00690740 | Improvements Assessment | $1,104,693 |
| Land Assessment | $51,920 | Total Assessment | $1,156,613 |
Property Taxes
Parcel Number
00690740
Land Assessment
$51,920
Improvements Assessment
$1,104,693
Total Assessment
$1,156,613
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