1516 Annex Avenue Dallas, TX 75204
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Multiple Single Units
Listing Status Active
Purchase Type For Sale
Subdivision Blankenship & Blakes
MLS Listing ID 21188054
HOA Y/N None
Total Fin. Sqft 47498
Year Built 1963
Annual Tax Amount $116,460
Lot Size 1.090 Acres
Acres 1.09
Property Sub-Type Multiple Single Units
Property Description
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
Location
State TX
County Dallas
Direction Please use GPS.
Interior
Interior Features Built-in Features
Heating Central, Electric
Cooling Central Air, Electric
Flooring Laminate
Appliance Dishwasher, Disposal, Electric Range, Refrigerator
Heat Source Central, Electric
Exterior
Fence Electric, Fenced, Gate, Metal
Utilities Available City Sewer, City Water, Electricity Connected
Roof Type Shingle
Garage No
Building
Story Two
Foundation Pillar/Post/Pier
Level or Stories Two
Structure Type Brick,Rock/Stone,Wood
Schools
Elementary Schools Chavez
Middle Schools Spence
High Schools North Dallas
School District Dallas Isd
Others
Acceptable Financing Cash, Contact Agent, Conventional
Listing Terms Cash, Contact Agent, Conventional
Virtual Tour https://www.propertypanorama.com/instaview/ntreis/21188054
NEARBY SCHOOL & BUSINESS
GET MORE INFORMATION