34-Unit SFR Portfolio Sale - Dallas, TX

Description:

Stabilized 34-unit, single family rental community on 10 acres in Oak Cliff, available for qualified investors. Built in 2020-22, 100% leased, and cash-flowing. 6 different floor plans, ranging from 1,239-1,935 sq. ft.. Average size unit is 1,470 sq. ft.. Two (2) 5BR/3BA units, twenty-two (22) 4BR/2BA units, and ten (10) 3BR/2BA units. Brick construction, oversized 50’x200’ fenced lots (.23 acres), 2-car garages, new stainless appliances, ceiling fans, 6" baseboards, roomy 10' ceilings, quartz counters and glass enclosure/tiled bathrooms. All tenants on ACH direct deposit. No pets. No smoking. These newer units should provide several years of very low maintenance for a new Owner with no major Capex.  Room to bump the rents slightly on 2024 turnovers (approx. 5-7% below market now).  $2,130 avg. rent per unit, in a very stable DFW rental market, with sustained rent growth. A few value-add improvements might also enhance the NOI in this great community (add washer/dryers, etc.). Development is located just 2 miles east of SH-12, under 20 minutes to Joe Pool Lake & Downtown Dallas, & 30 minutes to DFW International Airport. Savvy investors can buy & hold, sell to the happy tenants and finance them, or simply sell each unit on the open market. Great cash-flowing 1031 tax shelter.
All preliminary information is available here. DO NOT DISTURB TENANTS. Individual tours, site inspections & due diligence materials shall be made available upon accepted offer. Call for details.


This Oak Cliff development is located between I-35E and SH-12, and between I-20 and I-30, just southwest of Downtown Dallas. Less than 20 minutes to Joe Pool Lake & Downtown Dallas, & 30 minutes to DFW International Airport.



Avg Home Size: 1,470 s.f.
100% Occupied
Additional value-add improvements possible
Oversized lots: +-10,000 s.f. (50'x200'). Approx. .23 acres
Avg Rent Per Unit: $2,130 (+-5-7% below market). Room to increase rents on staggered turnovers (approx 5 per month)
Strong DFW SFR market - BankRate's ‘Heat index’ ranks Dallas-Fort Worth housing market the hottest in Texas, top 5 nationally

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