*please note ALL financial calculations will need to be recalculated based on new asking price as of 5/16. Previous calculations were based on 862,500. Waller Group properties is pleased to offer for sale a 17 unit multifamily, value add opportunity in South Dallas. 3810 Cedar Lake is located on the northwest corner of Military Parkway and South Buckner Boulevard. The U.S. Post Office is 1.2 miles west of the property, and Adelta Callejo Elementary School is 322 feet north of the property. Close proximity to the school, established residential neighborhoods, and local shopping attracts quality tenants to 3810 Cedar Lake. Multiple bus lines are within 0.2 miles of the property.
3810 Cedar Lake is a multifamily residential property featuring both one and two bedroom floorplans. There are 12 one bedroom plans, 4 one bedroom loft plans, and 1 two bedroom plan. 2016 capital expenditures included an HVAC system rehab, new roofing, and new water heaters. Three units have been renovated as well.
The rents are currently under market by 10 percent. Raising the rents to the market rate will add significant value to the property. The projected net operating income for 2016 is $66,000.
3810 Cedar Lake
Dallas, TX 75227
Please use link below to view Offering Memo.
