NEW LISTING!

  

1920's Fourplex in North Oak Cliff's Winnetka Heights Area

7 Minutes to Downtown Dallas

This four unit investment property is located just across the Trinity River from downtown Dallas and is only a couple of miles from downtown. It's adjacent to Dallas's toney and chic Winnetka Heights Conservation District but it's not in the District, so there are no onerous architectural controls and no need to adhere strictly to historical standards.

  

This property has been owned by the same owner for 8 years and he at one time lived in one of the units.  Property is well-maintained and has been updated with central heat and air, new windows, and updated kitchens.

 

This property has significant upside.  A similar property less than a block away is renting for almost twice what these units rent for.  There's an unfinished basement that once housed an additional two units and is plumbed for two kitchens and two bathrooms.  Redoing those units and raising rents a bit would increase the rate of return on this property significantly.  It already shows a decent 7.15 CAP rate using current income and expense figures (not pro-forma!).  Your lender will love the over 2.0 debt service coverage ratio with a 30% down loan. 

 

The Winnetka Heights and Kessler Park neighborhoods are experiencing an influx of young urban professionals looking to live in a small town, chic environment. It's close to the hot Bishop Arts District and only blocks from the up-and-coming Jefferson Blvd commercial and restaurant areas.

 

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

 

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.

  

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 this fourplex investement.  
   

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)