1963 Year Built:

Building or Complex name: 1516 Annex Location:

Brick, Rock/Stone Construction:

Wood Exterior Description:

Resale Condition:

Refrigerator, Dishwasher, Disposal Appliances:

Laminate Floors:

City Water, City sewer Utilities:

Central, Electric Heating System:

Central, Electric Cooling System:

Shingle Roofing:

Metal Fence Fencing:

67 Number of parking spaces:

Gated Parking, Parking Lot, Assigned Space Parking type:

294 School District:

Chavez Elementary School:

North Dallas High School:

Spence Middle School:

Stabilizing 60 Unit Vaue-Add Asset Opportunity - ~$416K NOI - Strong Upside - Prime East Dallas Location Main Description This is a rare opportunity to acquire a recently stabilized, cash-flowing 60-unit multifamily asset in the highly desirable East Dallas submarket, one of Dallas' strongest rental corridors with continued population and job growth. The property has undergone significant operational improvements, with occupancy now approaching stabilization and current NOI of ~$415,872, providing immediate in-place cash flow with additional upside remaining. Investment Highlights - Strong In-Place Cash Flow - Current NOI: ~$415K - Stabilizing occupancy (~88-90%) - Immediate yield with continued upside - Value-Add Completed or Near Completion - Operational improvements already executed - Reduced execution risk compared to typical value-add deals - Remaining Upside Potential - Rental increases through continued stabilization - Opportunity to further optimize operations - Attractive Basis vs Replacement Cost - Well below new construction pricing - Ideal for long-term investors - Prime East Dallas Location - Minutes from Downtown Dallas - Strong renter demand - Excellent access to employment centers