Dallas Apartments, Southwest Region

Property Description

Dallas Apartments for sale. 80 units in downtown Dallas.

80-unit community built in 1982 and has 51,080 square feet situated on 1.47 acres of land. The condominiums are 98 percent occupied and offer residents many amenities, including limited-access gates, on-site management and security, individual HVAC units, a swimming pool and an on-site laundry facility. The complex is primed for a possible condo conversion as the entire property is individually deeded.

A new investor would be able to take advantage of this extremely sought-after location and the rent pressure that accompanies it. Due to the lack of land in this area, a new owner should be able to command higher rental rates as people clamor to live in one of the hottest areas of Dallas.

The condos are near a new Development Project, a private school for grades K-12. Both the elementary and the high school portions are open and running with only the middle school left for completion with construction currently underway. The complex is within a half-mile from other new townhome developments priced from $250,000 - $500,000 per unit.

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