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25
5020-5022 Pershing Street
$675,000 Sale
Listed 14 hours ago
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Key Facts
Key facts for 5020-5022 Pershing Street
Property Type
Other
Parking
-
MLS #
21065078
Size
-
Basement
Unspecified
Listed on
-
Lot size
-
Tax
-
Days on Market
-
Year Built
1938
Maintenance Fee
-
Description
INVESTOR OPPORTUNITY! Knox Henderson Full Duplex on 7009 sqft Lot. Selling for lot value. This investment analysis details a unique opportunity to acquire a 7,009 square foot lot with a full duplex and detached garage in the highly desirable Knox-Henderson area of Dallas, also known as Cochran He...ights. This prime location, with its mix of charming historic homes and modern new construction, makes the property a versatile asset for a range of investment strategies. Cochran Heights is a vibrant, walkable neighborhood with a high-income, highly educated population of young professionals. The area's strong appeal is driven by its close proximity to acclaimed restaurants, cafes, boutiques, and entertainment venues on Henderson Avenue and Knox Street. The lot's size is a significant advantage, exceeding the city's minimum requirements for both single-family and duplex development, which offers substantial flexibility. Alternatively, for an investor with a higher risk tolerance and development experience, a ground-up development project offers the potential for maximum returns. The 7,009 sq ft lot is large enough to support a new, high-end single-family home or a brand-new duplex. New construction in this neighborhood has commanded sales prices well over $1 million, with some reaching as high as $2.25 million, demonstrating the strong demand for new inventory. A new duplex, in particular, would allow an investor to maximize the lot's income potential while still meeting the City of Dallas's zoning and setback requirements for multi-family residences in this area.
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Listing courtesy of: Coldwell Banker Apex, REALTORS