Well maintained, performing asset | 3 building - 4 unit apt complex

2014 Caddo St Caddo Street Dallas, TX 75204

2014 Caddo St Caddo Street , Dallas, TX, 75204
2014 Caddo St Caddo Street , Dallas, TX, 75204 2014 Caddo St Caddo Street , Dallas, TX, 75204 2014 Caddo St Caddo Street , Dallas, TX, 75204 2014 Caddo St Caddo Street , Dallas, TX, 75204 2014 Caddo St Caddo Street , Dallas, TX, 75204 2014 Caddo St Caddo Street , Dallas, TX, 75204 2014 Caddo St Caddo Street , Dallas, TX, 75204 2014 Caddo St Caddo Street , Dallas, TX, 75204 2014 Caddo St Caddo Street , Dallas, TX, 75204 2014 Caddo St Caddo Street , Dallas, TX, 75204 2014 Caddo St Caddo Street , Dallas, TX, 75204 2014 Caddo St Caddo Street , Dallas, TX, 75204 2014 Caddo St Caddo Street , Dallas, TX, 75204 2014 Caddo St Caddo Street , Dallas, TX, 75204 2014 Caddo St Caddo Street , Dallas, TX, 75204
FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$1,300,000
Cap Rate:
0.00%
Last Verified:
Sep 10, 2024

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The offering is a well maintained, performing three-building, four-unit apartment complex in the desirable Old East Dallas neighborhood. It has a walk score of 71. The property was built in 1941. Per the owner, the building’s square footage is approximately 4,700. The lot is approximately 10,625 sq ft. It is zoned MF-2. The roofs are pitched with composition shingles. The foundations are Pillar/Post/Pier. The HVAC is provided by individual central HVAC systems. All units have W/D connections. All unit utilities are individually metered and are paid for by the tenants. Parking is off street and gated. The owners had been operating the property as Short-Term Rental (STR) units until March of 2024. The management company they employed did an excellent job of keeping the STR units occupied until they were sold. The owners decided to convert the STR units to standard leased units and sell the property. Historical financial data is not available as it is based on STR income and expenses not standard lease income and expenses.  Since buying the asset, the owners have performed extensive renovations. Including, but not limited to: New Roofs - +/-2016 Central HVAC systems that replaced window units New siding on 2 of the 3 buildings Converted a duplex into a single unit Resurfacing of original hardwoods or new flooring New kitchens and new or updated bathrooms The property is across the street from the J.W. Ray Park. It is a 2.5-acre neighborhood park, established in 1991. Facilities include an In-Line Hockey rink, an Outdoor Basketball Court, a Pavilion, Picnic Tables, a playground and a Tennis Court.  According to the Realtors Property Resource Trade Area report for Dallas, TX 76204: The Average Household Income is $122,435 The Average Disposable Income is $90,457 The Median Household Income is $83,106 The median age is 33.7 years The average household size is 1.62 The ZIP code has a Median Estimated Home Value of $509,650, which has decreased 2.4% over the last twelve months  The area is an excellent rental market due to its proximity to employment centers and the central business district of Dallas. It is home to new upscale or remodeled historic homes, White Rock Lake, the Dallas Arboretum, eclectic restaurants, entertainment, shopping and has easy access to major thoroughfares.

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Map of 2014 Caddo St Caddo Street , Dallas, TX, 75204

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.