Property details
Dallas Multifamily, Southwest Region
Property Description
Dallas Multifamily located on a Lake in this city's major new shopping district, and visible from the highway. This multifamily property is a suburb, about 30 miles from downtown of a major metro city, and at the intersection of Texas' 3 major highways making it an ideal location for distribution industries.
This project is NEW. It will start renting apartments in , 2008 and its construction will finish in March, 2009. Owner will provide a cash account to guarantee the initial lease-up.
The sale can be structured to keep the construction loan in-place for its 3-year term
Images
Highlights
- Status:
- Available
- Price:
- $22,016,000
- PSF:
- $113
- Cap Rate:
- 7.00%
- Annual Rent:
- $1,541,119
- Rent Increases:
- None
Property Information
- Building Size:
- 195,240 sq.ft.
- Property Type:
- Apartments
- Industry Type:
- Apartment - Multifamily
- Units/Spaces:
- 192
- Year Built:
- 2008
- Land Area:
- 11.48 acres
- Purchase Tenure:
- Fee Simple
Existing financing information
- Original loan amount:
- $14,115,000
- Interest rate:
- 5.0%
- Amortized over:
- 0 years
- Annual Cash Flow:
- $1,541,119
- Cash on Cash Return:
- 19.51%
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.