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2718 Cleveland St 8 Unit Apartment Building $995,000 ($124,375/Unit) 6.76% Cap Rate Dallas, TX 75215
Investment Highlights
- Value Add
- Land Cover Play
Executive Summary
2718 Cleveland is an 8-unit value-add multifamily opportunity located in The Cedars, a rapidly transforming neighborhood just south of Downtown Dallas and Deep Ellum. The property benefits from immediate access to major employment centers, entertainment districts, and ongoing neighborhood reinvestment.
The asset features rare, oversized unit layouts comprised of four (4) 4-bedroom units and four (4) 3-bedroom units, positioning the property to serve strong family and roommate demand within an infill urban submarket.
The investment offers a clear value-add business plan, including interior renovations to drive rent growth, property tax appeals to reduce expenses, and the opportunity to shift electricity to tenant responsibility, aligning operating costs with market standards and increasing NOI.
With its irreplaceable Cedars location, unique unit mix, and multiple paths to income growth, 2718 Cleveland presents an attractive opportunity for investors seeking durable cash flow with meaningful upside in a high-growth Dallas submarket.
The asset features rare, oversized unit layouts comprised of four (4) 4-bedroom units and four (4) 3-bedroom units, positioning the property to serve strong family and roommate demand within an infill urban submarket.
The investment offers a clear value-add business plan, including interior renovations to drive rent growth, property tax appeals to reduce expenses, and the opportunity to shift electricity to tenant responsibility, aligning operating costs with market standards and increasing NOI.
With its irreplaceable Cedars location, unique unit mix, and multiple paths to income growth, 2718 Cleveland presents an attractive opportunity for investors seeking durable cash flow with meaningful upside in a high-growth Dallas submarket.
Property Facts
| Price | $995,000 | Property Subtype | Apartment |
| Price Per Unit | $124,375 | Lot Size | 0.29 AC |
| Sale Type | Investment | Building Size | 8,000 SF |
| Cap Rate | 6.76% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Zoning | MF2 | ||
| Price | $995,000 |
| Price Per Unit | $124,375 |
| Sale Type | Investment |
| Cap Rate | 6.76% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Lot Size | 0.29 AC |
| Building Size | 8,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1961 |
| Zoning | MF2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 4 | - | - |
| 4+1 | 4 | - | - |
1 1
Property Taxes
| Parcel Number | 00000141223000000 | Improvements Assessment | $800,000 |
| Land Assessment | $125,000 | Total Assessment | $925,000 |
Property Taxes
Parcel Number
00000141223000000
Land Assessment
$125,000
Improvements Assessment
$800,000
Total Assessment
$925,000
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