For Sale Contact for pricing
Property Type Other
Property Size 30,850 SF
Units 31
Date Updated Apr 26, 2024
Website eastdallasportfolio.sharplaunch.com

The East Dallas Portfolio is a 31-unit, 5-asset multifamily portfolio located within a two-mile radius in Old East Dallas that includes the esteemed historic neighborhoods of Swiss Avenue, Lakewood, and Peak Suburban.

Constructed between 1913 to 1930, these boutique communities were purchased by the owner over 20 years ago and are in some of the best locations and boast the largest unit types in East Dallas, making this a once in a generation opportunity to purchase Historically significant buildings in Dallas’s urban core, where residential values range from high six-figures to eight-figures. Since the owner was one of the original “Urban Pioneers” in the area, he got the pick of the litter when it came to location and unit size. Crest Manor, located on Swiss Avenue, has an average unit size of approximately 1,000 SF for one bedroom apartments and the neighboring property fetches as much as $3500/unit per month for fully furnished short term (minimum 30-day stay) leases. Brookestone’s zoning allows for commercial use, opening the opportunity to repurpose the use as a Law Office, Art Studio, etc... and Barcelona is located within walking distance of Woodrow Wilson High School, one of the most desirable High School’s in Dallas. The properties offer a multitude of opportunities to add value through simple upgrades to repurposing the use, or selling off individual units as condominiums after conversion.

The properties are being offered as a portfolio or for individual sale.

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Attachments

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Highlights

Visionary Owner in East Dallas known for value-add renovations started acquiring properties in the mid-1990s.
Boutique community with unique social environment. The majority of owners in East Dallas don't sell, presenting a rare investment opportunity.
New investor can increase tenant quality and rental income. Median age of tenants is 35.1, mix of young professionals and adults.
Prized for walkability with numerous hiking, biking, and walking trails. Centralized location provides easy access to major grocery and food chains.
Portfolio offered free and clear of existing debt. Qualify for tax credits due to long tenure of ownership.