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11
7152 Fair Oaks Avenue, #1029
$99,500 Sale
Listed 4 days ago
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Key Facts
Key facts for 7152 Fair Oaks Avenue, #1029
Property Type
Condo, Condo/Townhome
Parking
Common,On Site,Parking Lot,Permit Required
MLS #
20990566
Size
514 sqft
Basement
No
Listed on
-
Lot size
-
Tax
-
Days on Market
-
Year Built
1975
Maintenance Fee
$125/mo
Description
*TURN-KEY INVESTMENT** Opportunity to acquire 1-3 highly performing, newly updated properties in the growing Midtown Improvement District of Dallas. With current, performing leases in place and capital improvements already completed, this property is an ideal addition to an existing rental portfol...io or for someone seeking to establish one. Unit is operating at an 8.5% CAP Rate with low HOA dues and tenants responsible for their own utilities. Properties are located in an ideal location providing access to multiple highways, Dart Rail, shopping, restaurants and major healthcare facilities. The value add opportunity for this unit would be in the substantial investment from the City of Dallas through MID, with numerous planned improvements for the upcoming year that have already been approved and made public. Investments have already been made in two new schools (4 total), Vickery Park branch of the Dallas Public Library, parks, and the SOPAC trail which connects residents to Flag Pole Hill, White Rock Lake and Katy Trail. This benefit has already been realized in property values and rent rates over the last couple of years and with planned updates to the complex, as well, it should only continue to improve. Additional information can be found on the Midtown Improvement Districts website. This property can be purchased independently or as part of a three-unit package, with MLS# 20990534 and one additional unit that will is off market, but is available as part of a package deal.
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Listing courtesy of: eXp Realty LLC