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South Dallas SFR Portfolio 5 Properties in Dallas, TX
EXECUTIVE SUMMARY
The South Dallas SFR Portfolio is a 3rd generation portfolio made up of 123 units all located in Dallas County with the majority being in South Dallas neighborhoods – Such as Cockrell Hill, Oak Cliff, Fair Park and Wheatley place.
Currently, the portfolio is 75% occupied with an average unit size of 789 SF and an average vintage of 1939. With the majority of the properties being Single Family Homes, there is a mix of Duplexes and Quadplexes as well. Across the 123 units, there are 220 bedrooms and 126 bathrooms.
Annually, the property had an Effective Gross Income of $1,275,395 which accounts for a vacancy rate of 20% and minimal Fee Income. When adjusting for market rents, the ProForma EGI is closer to $1,603,449 – Which assumes a 10% vacancy rate, 3% delinquencies/concessions, and flat Fee Income.
In total, this portfolio includes 97,003 Rentable Square Feet with rents that are well below market. With this portfolio being offered below the Appraised Value, this presents an opportunity for experienced operators to step into a cash flowing investment with immediate upside.
*Not all properties are shown on CoStar, please see the OM to see all addresses on the Rent Roll*
Currently, the portfolio is 75% occupied with an average unit size of 789 SF and an average vintage of 1939. With the majority of the properties being Single Family Homes, there is a mix of Duplexes and Quadplexes as well. Across the 123 units, there are 220 bedrooms and 126 bathrooms.
Annually, the property had an Effective Gross Income of $1,275,395 which accounts for a vacancy rate of 20% and minimal Fee Income. When adjusting for market rents, the ProForma EGI is closer to $1,603,449 – Which assumes a 10% vacancy rate, 3% delinquencies/concessions, and flat Fee Income.
In total, this portfolio includes 97,003 Rentable Square Feet with rents that are well below market. With this portfolio being offered below the Appraised Value, this presents an opportunity for experienced operators to step into a cash flowing investment with immediate upside.
*Not all properties are shown on CoStar, please see the OM to see all addresses on the Rent Roll*
PROPERTY FACTS
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 5,868 SF |
| Number of Properties | 5 | Total Land Area | 0.81 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 5 |
| Individually For Sale | 0 |
| Total Building Size | 5,868 SF |
| Total Land Area | 0.81 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 423 S Cockrell Hill Rd, Dallas, TX 75211 | Multifamily | 1,412 SF | 1939 | - |
| 3702 Cauthorn Dr, Dallas, TX 75210 | Multifamily | 1,200 SF | 1939 | - |
| 4403 Hopkins Ave, Dallas, TX 75209 | Multifamily | 1,048 SF | 1939 | - |
| 4317 Jamaica St, Dallas, TX 75210 | Specialty | 1,440 SF | 1916 | - |
| 3611 Reese Dr, Dallas, TX 75210 | Specialty | 768 SF | 1940 | - |
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