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ABOUT JP Lumbley & Associates, LLC
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Welcome to this issue of the Dallas Income Properties Newsletter. This newsletter is a complimentary service of JP Lumbley and Associates, LLC, We are brokers who are specialists in multifamily sales and have been active in multifamily sales since 1979.
PLEASE DO NOT GO ONSITE ON ANY OF THESE LISTINGS WITHOUT A JPLA Agent. Managers and tenants are not aware of a sale. Violation of this request will result in non-consideration of any of your offers. Call your JPLA agent for further info and for an appointment to view any of these listings.
Joseph Lumbley, Broker
TREC Broker's License #0275796
Bishop Arts District Office
819 N. Bishop Avenue
Dallas, Texas, 75208
214-405-3417 (cell)
214-941-3417 (office)
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THREE EXCLUSIVE
MULTIFAMILY LISTINGS
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 | | YESTERDAY! |
16 Units, East Dallas
1810 Fitzhugh
$700,000
This 16-unit asset is located near the intersection of Ross Avenue and Fitzhugh in old East Dallas. New development is popping up all around the area, with new townhouses, single family homes, and condos being built in the immediate vicinity. Minutes from downtown Dallas, this property is in an ideal, highly-desirable location. Current development is redeveloping the area between Ross Avenue and North Central Expressway, and newly-built properties sell for upwards of $300,000 per unit.
This property is master-metered, all bills paid, with a new chiller installed in 2012. It has security fencing and ample parking and a nicely landscaped entranceway area.
Based upon trailing 18 months' of actual financials, the property is priced at an 8% CAP rate and a 14+% positive cash flow after all expenses and note payments. Your banker will love the Debt Coverage Ratio of 1.97%.
This property is new to the market. The last opportunity we had similar to this one went under contract in less than three weeks. Future upside can be obtained by implementing a utility billback program (RUBS) and/or by increasing rents to reflect a constantly upgrading neighborhood.
If you've been following small investment properties, you know that a properly-priced, properly-located asset is almost impossible to find in DFW. As a member of our Early Bird mailing list, you're seeing it here before anyone else. It'll go public in seven days, so if you're in the market for a cash-flowing East Dallas investment, grab this one before it gets away.
For further information about this asset, call Joe Lumbley at 214-405-3417 or email me at joe@lumbley.com.
CLICK HERE to download a full financial information packet for this property.
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LARGE fourplex (all 4-2) built in 2006.
Located on an acre lot south of Fort Worth
$30,000 PRICE REDUCTION to:
$259,900
LIKE NEW INSIDE!
This large fourplex is located in an unincorporated rural area about 20 miles south of Fort Worth and about 7 miles north of Cleburn. The new extension for Highway 121 is within about a mile of this property. This new highway puts downtown Fort Worth within about 15-20 minutes of this property. The smart money in DFW follows new highway construction, and this property is ideal to allow an investor to capitalize on that trend.
Composed of four 4BR-2BA units, the total square footage of this property is over 5200 SF. Built in 2006, this property has all-electric kitchens with microwaves, dishwasher, disposals, and washer-dryer connections. It also has stained concrete floors throughout the first floors, ceiling fans and individually fenced back yards.
Seller has gone through all the units in the 2011-2012 timeframe, freshening colors and other amenities. All units are two story, with the master bedroom on the first floor and three bedrooms on the second level.
All units are rented at $850/month, with the tenants reimbursing the landlord for water bills.
The financials of this property are outstanding. Our analysis is factoring in an 8% vacancy rate as well as an 8% management fee expense. For an investor who is planning of managing it himself, that's at least another 10% added to the bottom line.
With our very conservative estimates, this property is still showing an 8% CAP rate. At this price, this is the steal of the year.
Call Joe Lumbley 214-405-3417 or email joe@lumbley.com for more information about this investment.
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 | | 32 Units, Winnsboro TX |
Also Available!
32 Apt Units Plus
122 Mini-Storage Spaces
Winnsboro, Tx
This investment is a combined investment in a 32 unit apartment property of modern construction and a 122-unit mini-storage facility located across the street from the apartments' office. One on-site manager manages both properties.
Winnsboro is a small east Texas town located about 100 miles east of Dallas. This is ideal for someone who wants to own investment property and wants to hedge their bets. Managing an apartment in a small town is a lot different than managing in a big city.
Talk to Monte Self about this investment. 214-707-3223 or monte@dallasincomeproperties.com
Click Here to DOWNLOAD FULL FINANCIAL INFO on this property.
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