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    1625 Grigsby Avenue

    Dallas, TX 75204
    • $2,770,000
    • STATUS: Active
    • ON SITE: 152 days
    • ID#: 14378647
    UPDATED: 48 min ago
    $2,770,000
    • 0
      BEDS
    • 0.44
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Multi-Family
    Built:
    1986
    County:
    Area:

    School Information

    Elementary School:
    Ray
    Middle School:
    High School:
    School District:
    Offered by Logan Waller of Waller Group Llc.

    Description

    Waller Group Properties is proud to present this 20-unit multifamily complex built in 1986. Located in the heart of East Dallas, Grigsby Place is an attractive, well-maintained complex with all one-bedroom units. 70% of the rental revenue is Section 8 income. The property is currently operating at an NOI of $166,218 at a 6.00% cap rate on actuals. Pro Forma NOI is $195,757 at a 7.07% Pro Forma cap rate. This is a partially renovated value add opportunity where 15 units have been renovated to include new cabinets, counters, plumbing and appliances within the last 8 years. For more information, please review the OM and financials that are in the documents tab, and on our website.

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    © 2020 North Texas Real Estate Information Systems. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Homes By Lainie Real Estate Group. The data relating to real estate for sale or lease on this web site comes in part from NTREIS. Real estate listings held by brokerage firms other than Homes By Lainie Real Estate Group are marked with the NTREIS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2020-11-30T23:40:03.29.
    www.homesbylainie.com/homes/107428084
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    1625 Grigsby Avenue Dallas, TX 75204

    • Price: $2,770,000
    • Status: Active
    • Updated: 48 min ago
    • ID#: 14378647
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.44
    Acres
    1986
    Built
    Neighborhood:
    Duncan Ward & Morgans Add
    County:
    Dallas
    Area:
    Dallas East
    Elementary School:
    Ray
    Middle School:
    Spence
    High School:
    North Dallas
    School District:
    Dallas ISD
    Property Description
    Waller Group Properties is proud to present this 20-unit multifamily complex built in 1986. Located in the heart of East Dallas, Grigsby Place is an attractive, well-maintained complex with all one-bedroom units. 70% of the rental revenue is Section 8 income. The property is currently operating at an NOI of $166,218 at a 6.00% cap rate on actuals. Pro Forma NOI is $195,757 at a 7.07% Pro Forma cap rate. This is a partially renovated value add opportunity where 15 units have been renovated to include new cabinets, counters, plumbing and appliances within the last 8 years. For more information, please review the OM and financials that are in the documents tab, and on our website.
    Exterior Features

    Construction StuccoWood Exterior Features Balcony Fence Metal Foundation Slab Parking Or Garage Assigned Spaces Parking Spaces 25 Pool On Property No Roof Composition

    Interior Features

    Energy Efficiency Ceiling Fans Fireplace Features Gas LogsWood Burning Fireplaces 1 Flooring Ceramic TileLaminate Handicap YN No Heating Central Air-ElecCentral Heat-Elec Interior Features Other Kitchen Equipment Built-In MicrowaveDishwasherDryerRange/Oven-ElectricRefrigeratorVent MechanismWasher Sq Ft Building 11344

    Property Features

    Building Area Source Tax Buildings 1 Complex Name Grigsby Place Construction Status Preowned Gross Annual Expenses 53924 Gross Annual Income 261491 HOA None Insurance Expense 8059 Municipal Utility District No Net Annual Income 207567 Possession Closing/Funding Property Type Mul-Apartment/5Plex+ Unit Count 0 Utilities City SewerCity WaterConcreteCurbsOverhead UtilitiesSidewalk Will Subdivide No

    Listing information © 2020 North Texas Real Estate Information System.


    © 2020 North Texas Real Estate Information Systems. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Homes By Lainie Real Estate Group. The data relating to real estate for sale or lease on this web site comes in part from NTREIS. Real estate listings held by brokerage firms other than Homes By Lainie Real Estate Group are marked with the NTREIS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2020-11-30T23:40:03.29.
     
    https://bt-photos.global.ssl.fastly.net/ntreis/orig_boomver_1_14378647-2.jpg https://bt-photos.global.ssl.fastly.net/ntreis/orig_boomver_1_14378647-2.jpg https://bt-photos.global.ssl.fastly.net/ntreis/orig_boomver_1_14378647-2.jpg
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    Homes By Lainie Real Estate Group
    421 Hwy. 120 West
    Pottsboro TX, 75076
    Offered by Logan Waller of Waller Group Llc.