properties for sale 1 101-121 s bonnie brae st , denton , tx 76201 · 2019-09-30 · of land in...

Prepared for 11/13/2018

(469) [email protected]

Properties for Sale

Presented by Jonathan AflatooniTransatlantic Real Estate Holdings

Property Details

Price $3,600,000

No. Units 41

Building Size 30,600 SF

Total Lot Size 1.74 AC

Property Type Multifamily

Property Sub-type Apartments

No. Stories 2

Building Class C

Year Built 1983

Zoning Description DR-2

Tax ID/APN R27190

Status Active

Property Notes

1 101-121 S Bonnie Brae St, Denton, TX 76201

Photos

Property Details

Price $2,350,000

No. Units 32





Cap Rate 6.56%

No. Stories 2

Building Class C

Year Built 1984

Zoning Description LR, Balch Springs

Tax ID/APN 12048000000010000

Status Active

Property Notes

2 12904 Elam Rd, Balch Springs, TX 75180

Property Description

Elam Townhomes (“Property”) is a 32-unitmultifamily property located in Balch Springs, Texas.Built in 1984, this property is situated on 2.54 acresof land in Dallas County with over an acre of vacantland, making it possible for an expansion in thefuture. The Property is currently 93.75% occupiedwith only 3 units vacant. Interstate 20, Interstate635 and US Highway 175 converge on Balch Springsmaking the city easily accessible to anywhere in theDallas-Fort Worth Metroplex.

Highlights

Cash flowing asset with upside Some units have recently been updated Easy access to I-20, I-635 & US-175;Compressed vacancy rates in the submarket

Adjacent to police station & public library Currently 93.75% occupied Over 1 acre of excess land included

Unit Mix Information

Description No. Units Avg. Mo. Rent Sq. Ft.

1+1

2+2

Property Details

Price $785,000

No. Units 16





Cap Rate 6.35%

No. Stories 2

Building Class C

Year Built 1951

Zoning Description Z164

Tax ID/APN 00000457387000000

Status Active

Property Notes

3 2401 Berwick Ave, Dallas, TX 75203

Sale Notes

Berwick is in a position to outperform the submarket due to favorable Class C multifamily fundamentals. Key elements such as being located in a high-traf?carea should drive more prospective tenant activity to the asset. The property has superior drive-by curb appeal compared to most properties in the submarket,potentially increasing the tenant absorption rates. Per the recent rent survey, current rental rates for the asset are below the submarket average. Rents in thissubmarket are projected to rise at a rate of 3 percent annually. Demographically, this area of the South Oak Cliff sector is favorable with above-averagepopulation densities and employment. Traf?c counts are projected to increase by 6 percent by the year 2017. The current unemployment rate in this submarketis 6.26 percent. As the job market continues to improve in Dallas, the demand for apartments in this submarket stand to bene?t due to do supply constraintswith no new development of apartment units in this vicinity. Typically, the absorption rate for apartments in Dallas/Fort Worth is for every 5.7 jobs created, oneapartment unit is absorbed. With these fundamentals in place, Berwick should result in higher than market collection rates, tenant retention, and rental growthrates.

Berwick offers investors an opportunity to acquire a high-yield, stabilized asset with good cash ? ow, along with upside potential in a Class C submarket.Financing is available for the property and the terms that have been quoted include a 75 percent loan-to-value ratio, a 4.75 percent interest rate, and a 25-yearamortization for a ?ve-year holding pattern. Factoring the quoted debt into the investment analysis, Berwick offers a 12.5 percent projected cash-on-cashreturn at list price.


Berwick is a 16-unit apartment community located in Dallas, Texas. Built in 1951, Berwick is within Dallas County and is strategically located at the intersectionof 35E and West Kiest Boulevard. Berwick is located south of downtown Dallas, east of Interstate 35, and west of Interstate 45, with more than 11,000vehicles per day with an increase of 2,450 vehicles since 2006.

Berwick offers a lifestyle minutes away from a fast-paced downtown, while surrounded with a quiet neighborhood setting featuring both multi - and single-family homes. The asset is constructed on a concrete slab foundation and features brick veneer exterior, wood framing and a metal-pitched roof. Each unit isindividually metered and many have fairly recent improvements such as new air conditioning window units, appliances (refrigerator and range), paint, and ?ooring. With 16 spacious homes, each with one bedroom, one bathroom and a balcony, Berwick is an easily well-maintained and managed investment property.Demand for apartment units in the area has increased, and the supply has remained constant. Some of the area’s strong employment drivers include BaylorHealth Care System (6.2 miles southwest), Bank of America Corp. (3.8 miles south), AT&T (4.0 miles south) and JPMorgan Chase & Co (5.5 miles south). With17,097 employees, Baylor’s largest campus is the Baylor University Medical Center in Dallas. For the last 19 years, the hospital has been named one ofAmerica’s best hospitals by U. S. News and World Report.The property offers residents access to 15 schools in the Dallas Independent School District (ISD), including Albert S. Johnston Elementary, F. G. BotelloElementary, Hector Garcia Middle School, James Bowie Elementary, N. W. Harllee Elementary, Roosevelt High School, Sau Campus School, School for theTalented and Gifted (ranks 3rd out of 1,325 high schools in Texas), School of Business and Management (ranks 34th among high schools), School of Educationand Social Service (ranks 12th among high schools), School of Government / Law / Law Enforcement (ranks 19th among high schools), School of HealthProfessions (ranks 7th among high schools), School of Science and Engineering (ranks 13th among high schools), Trinity Basin Preparatory School and W. H.Adamson High School.

• Close proximity to Downtown Dallas • Individually Metered • New Parking Lot • Recently Replaced Roof - Reported by Seller • New Mechanical Systems - Plumbing / Electric / HVAC (Split Systems) • Updated Interior Units • Traf?c Counts Exceed 11,000 Vehicles per Day



1+1

Photos

Property Details

Price $1,554,000

No. Units 8





No. Stories 4

Building Class A

Year Built 2018

Zoning Description mf2

Tax ID/APN 00000429664000000

Status Active

Property Notes

4 2627 Kimsey Dr, Dallas, TX 75235

Sale Notes

Newly Built ! We currently have two 4 unit apartment buildings available in the Medical District . Excellent rental property in a great location. Average rental income between $2850- $3200 per unit

Each condo features high ceilings; custom 7ft aluminum windows, wood floors, iron railing and smooth level 4 walls. Contemporary kitchen includes self -closing European style cabinets, quartz countertops, extra deep sink, and stainless steel appliances. Bathrooms come with floating cabinets, rear lite ledmirrors, large format 24x48 porcelain tile and seamless glass doors. Enjoy panoramic views from the rooftop terrace or relax in your Zen-inspired garden.


2619 Kimsey Dr - 4 units $1,554,000 available 2711 Kimsey Dr - 4 units . $1,554,000 available 2627 Kimsey Dr - 4 units sold

Newly Built. Two 4 unit apartment buildings for a total of 8 units available located in the medical district of Dallas.Excellent rental property in a highly desirable area.This modern architectural gem features high ceilings, and large custom aluminum windows, European-style cabinets, contemporary style bathrooms withfloating cabinets and porcelain tile. Each unit includes a large rooftop terrace and a garden. This property comes with a 10 year structural and 2 year mechanical warranty.

Highlights

rooftop terrace modern design newly built

energy efficient contemporary kitchen and baths Great Location near UT Southwestern , LoveField



2+2

Photos

Property Details

Price $322,000

No. Units 4





No. Stories 2

Building Class C

Year Built 1984

Zoning Description D-E

Tax ID/APN 04813200

Status Active

Property Notes

5 7600 Chapin Rd, Fort Worth, TX 76116

properties for sale 1 101-121 s bonnie brae st , denton , tx 76201 · 2019-09-30 · of land in...

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