NEW LISTING!

 

23 Units in North Oak Cliff's Winnetka Heights District

7 Minutes to Downtown Dallas

This 23-unit investment property is located just across the Trinity River from downtown Dallas and is only a couple of miles from downtown.  Talk about ease of commuting for downtown workers with $5 gas! 

  

Property shows a CAP rate of  8% and a cash-on-cash return of almost 12%.  With only 23 units it's a perfect situation for an owner to manage himself with help from his onsite manager, who gets a free apartment as compensation.

 

The property is currently leased mostly to working-class families and is very popular due to its location and due to its unit mix.  There is some covered parking (about 8 spaces).  There's a significant opportunity that can be realized by upgrading the property and attracting more upscale tenants.  The Winnetka Heights and Kessler Park neighborhoods are experiencing an influx of young urban professionals and same-sex couples looking to live in a small town, chic environment, and Briarcliff Manor is a prime candidate for such repositioning, especially with the new 207-unit luxury development being built next door.

 

The North Oak Cliff area is one of the most active and dynamic areas of Dallas.  Much of this is driven by a $2 billion bond project currently in the works, known as the Trinity River Corridor Project.  This project will convert hundreds of acres of former floodplain into a string of lakes, amusement areas, wildlife sanctuaries and parklands.  When completed, this project will provide Dallas with a downtown park larger than Central Park in New York and less than a mile from downtown Dallas. 

 

Locator map for North Oak Cliff

The Trinity River Corridor Project is just a couple of miles from Briarcliff Manor.  So, why does this affect Briarcliff?  Part of the overall land use plan that's associated with the Project calls for higher-density townhouse, entertainment, and retail development along the banks of the Trinity.  That affecting most properties in North Oak Cliff.  There is already a new luxury Class A+ apartment community adjacent to Briarcliff that is beginning construction in January/February 2012.  The new Calatrava Bridge between Downtown Dallas and North Oak Cliff is scheduled to open in early March 2012.  The Bishop Arts District is located about two miles away and is currently Dallas' most prolific incubator of new eating, entertainment, and retail business. 

 

New urban developments are coming out of the ground all over North Oak Cliff.  The area is becoming as trendy as Oak Lawn and Updown.  Much of the development is done by the same players as Oak Lawn and Uptown, so it doesn't take much imagination and vision to see that this is one of the really hot and upcoming areas for investment in Dallas.

  

Briarcliff is in the Winnetka Heights Historic District, which features stately homes within a 10-minute driving time from downtown Dallas.  Click here for a a look at the Winnetka Heights neighborhood 

  

It is also just a couple of miles from Dallas' newest and trendiest entertainment and shopping district. Click here to see more about the Bishop Arts District.

  

Click here for a presentation about some of the benefits of investing in the dynamic North Oak Cliff submarket.. 

 

For full details on the property you can click on this link to download a full information package on the property.  
   

DO NOT GO ONSITE WITHOUT LISTING AGENT

DO NOT DISTURB TENANTS.  If you do, seller

will not do business with you.

 

 

If you're interested in this investment, call

Joe Lumbley at 214-941-3417 (OFFICE)

or 214-405-3417(CELL)