14 Beds
8 Baths
0.48 Acres Lot
14 Beds
8 Baths
0.48 Acres Lot
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Ed Balcoms Rev
MLS Listing ID 21061019
Bedrooms 14
Full Baths 8
HOA Y/N None
Total Fin. Sqft 6786
Year Built 1985
Annual Tax Amount $25,800
Lot Size 0.483 Acres
Acres 0.4835
Property Sub-Type Apartment
Property Description
Five units have been fully renovated in the last 24 months, including stainless steel appliances, flooring, plumbing, and electrical fixtures. Annual rental income is approximately $123,000, with expenses including taxes ($25,800), insurance ($8,569), and management fees ($7,500), leaving a profit before taxes of about $81,131 and a market CAP rate of roughly 5.6%.
Seventy percent of residents have lived in the community eight or more years, demonstrating stability and a well-established tenant base. Minimal ongoing maintenance and recent updates make this property a turn-key investment opportunity. EACH UNIT SQUARE FOOTAGE IS APPROXIMATE AND BASED ON PUBLIC RECORDS; IT HAS NOT BEEN INDEPENDENTLY VERIFIED. BUYER TO DO DUE DILIGENCE.
Location
State TX
County Dallas
Direction From Hwy 67, Going North toward Dallas, take Cooper Street Exit, turn left then turn right on Hardy, then Left on Hickerson. From Hwy 67, Going South from Dallas, take Cooper Street Exit then turn right on Hickerson. Apartment is on the left in the second block.
Interior
Interior Features Cable TV Available
Heating Central
Cooling Central Air, Electric
Flooring Vinyl
Appliance Dishwasher, Disposal, Electric Range, Microwave, Refrigerator
Heat Source Central
Exterior
Utilities Available Cable Available, City Sewer, City Water
Roof Type Concrete
Garage No
Building
Lot Description Subdivision
Story One
Foundation Slab
Level or Stories One
Structure Type Brick
Schools
Elementary Schools Highpointe
Middle Schools Besse Coleman
High Schools Cedar Hill
School District Cedar Hill Isd
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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