Dallas, TX 75215,1724 Pear Street

$475,000

Est. payment /mo
Est.Price: ?

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1724 Pear Street Dallas, TX 75215

6,054 Sqft Lot

SOLD DATE : 12/16/2022

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Sold

Purchase Type For Sale

Subdivision Colonial Anx Add

MLS Listing ID 20098246

Sold Date 12/16/22

HOA Y/N None

Total Fin. Sqft 1720

Year Built 1925

Annual Tax Amount $7,386

Lot Size 6,054 Sqft

Acres 0.139

Property Description

Presenting the 83.3% occupied, 6-unit value-add property in Dallas, TX. The property is available because current ownership is looking to reinvest proceeds. The subject property has been completely renovated with new plumbing, electrical, roof, windows, flooring, cabinets, fixtures, and more. Current ownership has invested over $164,000 in capital improvements over the last 5 years into the property with over $34,000 of capital improvements made over the last 6 months. New ownership, based upon area rent comps, can raise rents up to $72 per unit, which is a $0.11 per sqft bump. With this bump, new ownership can achieve an annual NOI of $35,178. Additionally, there is the opportunity to implement additional income through lease violation fees and parking fees. Proforma financials were underwritten with a 5% management fee.

Location

State TX

County Dallas

Direction On US-75 S, take the ramp on the right for Julius Schepps Fwy. Keep left to get onto Botham Jean Blvd. Turn left onto Pear St. Arrive at 1724 Pear St.

Interior

Interior Features Cable TV Available, High Speed Internet Available

Heating Electric

Cooling Electric

Appliance Electric Range, Refrigerator

Heat Source Electric

Exterior

Utilities Available City Sewer, City Water

Roof Type Composition

Total Parking Spaces 6

Garage No

Building

Story Two

Foundation Other

Structure Type Other

Schools

School District Dallas Isd

Others

Ownership Owner of Record

Financing Other

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North Texas Real Estate Info Systems (NTREIS) -MetroTex and Collin County (CCAR)
Listed by Logan Waller • Waller Group LLC
Bought with Travis Johnson • Rose Home Real Estate

Brian Haile

Broker Associate | License ID: 0648651

+1(254) 485-1827

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