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3706 W 8th St
Dallas, TX 75211
Costa Bella · Multifamily Property For Sale
·
161 Units
Investment Highlights
- $3MM+ in Value Enhancement
- $62,000+ Median Area Income - 5-Mile Radius (Yardi)
- Within 10 Minutes of the Bishop Arts District, Trinity Groves, and Downtown Dallas
- ~75% Are 2-3 Bedroom Units - Up To 1,281 SF
- Lender Owned-Basis Reset
- Located in a Qualified Opportunity Zone
Executive Summary
Summary:
The Multifamily Group is pleased to present the exclusive offering of Costa Bella, a unique, value-add
opportunity in Dallas, Texas. Originally constructed in 1961, the property consists of 161 units with an
average unit size of 837 square feet. Costa Bella offers a diverse mix of one-, two-, and three-bedroom
floor plans, with approximately 75% of the units (119 total) comprised of highly desirable two- and
three-bedroom layouts. The property was recently foreclosed upon and is currently 78% occupied,
presenting a compelling value-add opportunity for a new investor to execute a lease-up strategy. Costa
Bella is being offered free and clear of existing debt.
Location:
Located in Southwest Dallas, Costa Bella Apartments benefits from excellent connectivity to major employment
and retail corridors via Interstate-30 and Loop-12. The property offers convenient access to
Downtown Dallas, which is less than 10-minutes away, providing residents with proximity to one of the
nation’s strongest employment centers.
Costa Bella is strategically positioned within the rapidly evolving Oak Cliff submarket, benefiting from
continued retail and mixed-use investment throughout Southern Dallas. Residents enjoy convenient
access to the Bishop Arts District and Trinity Groves, two of Dallas’ premier dining and entertainment
destinations. Additionally, significant public and private investment is occurring throughout Southern
Dallas, including the 270-acre University Hills development and the 90-acre Rivulet mixed-use project,
which will collectively deliver millions of square feet of commercial space, new retail amenities, restaurants,
and employment opportunities. The continued redevelopment of The Shops at RedBird further
reinforces the area’s long-term growth trajectory and retail expansion.
The Multifamily Group is pleased to present the exclusive offering of Costa Bella, a unique, value-add
opportunity in Dallas, Texas. Originally constructed in 1961, the property consists of 161 units with an
average unit size of 837 square feet. Costa Bella offers a diverse mix of one-, two-, and three-bedroom
floor plans, with approximately 75% of the units (119 total) comprised of highly desirable two- and
three-bedroom layouts. The property was recently foreclosed upon and is currently 78% occupied,
presenting a compelling value-add opportunity for a new investor to execute a lease-up strategy. Costa
Bella is being offered free and clear of existing debt.
Location:
Located in Southwest Dallas, Costa Bella Apartments benefits from excellent connectivity to major employment
and retail corridors via Interstate-30 and Loop-12. The property offers convenient access to
Downtown Dallas, which is less than 10-minutes away, providing residents with proximity to one of the
nation’s strongest employment centers.
Costa Bella is strategically positioned within the rapidly evolving Oak Cliff submarket, benefiting from
continued retail and mixed-use investment throughout Southern Dallas. Residents enjoy convenient
access to the Bishop Arts District and Trinity Groves, two of Dallas’ premier dining and entertainment
destinations. Additionally, significant public and private investment is occurring throughout Southern
Dallas, including the 270-acre University Hills development and the 90-acre Rivulet mixed-use project,
which will collectively deliver millions of square feet of commercial space, new retail amenities, restaurants,
and employment opportunities. The continued redevelopment of The Shops at RedBird further
reinforces the area’s long-term growth trajectory and retail expansion.
Property Facts
| Sale Type | Investment | Lot Size | 5.62 AC |
| No. Units | 161 | Construction Status | Under Renovation |
| Property Type | Multifamily | Building Size | 134,725 SF |
| Property Subtype | Apartment | Average Occupancy | 35% |
| Apartment Style | Garden | No. Stories | 2 |
| Building Class | C | Year Built/Renovated | 1958/2027 |
| Zoning | Z164 | ||
| Sale Type | Investment |
| No. Units | 161 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 5.62 AC |
| Construction Status | Under Renovation |
| Building Size | 134,725 SF |
| Average Occupancy | 35% |
| No. Stories | 2 |
| Year Built/Renovated | 1958/2027 |
| Zoning | Z164 |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Kitchen
- Oven
- Tub/Shower
- Wi-Fi
- Freezer
Site Amenities
- Laundry Facilities
- Playground
- Pool
- Gated
- Laundry Service
- Online Services
Property Taxes
| Parcel Numbers | Improvements Assessment | $15,930,820 | |
| Land Assessment | $1,469,270 | Total Assessment | $17,400,090 |
Property Taxes
Parcel Numbers
Land Assessment
$1,469,270
Improvements Assessment
$15,930,820
Total Assessment
$17,400,090
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