Apartment Complex for Sale in Texas
Editor’s Note: ProAPOD real estate software is pleased to distribute this information regarding an apartment complex listed for sale in Richardson, Texas by James Dutka of Sanctuary Properties in Los Angeles California. James has been a customer of our real estate investment software for the past two years. This is a free service to our real estate investing software customers only. We urge interested parties to contact James Dutka direct.
Property Name: Amber Dawn Apartments
Number of Units: 157
Price: $5,400,000
Property Description
Amber Dawn is an elegant, recently renovated, property that offers 157 units in a gated community on an 8.5 acre lot. The unit mix is predominantly 2 bedroom units with some townhomes. There are 6 floor plans averaging a large 936 sq. ft. per unit. These large units attract stable families rather than transient singles. All units have individual water heaters, washer dryer hook-ups and the amenities include a resident swimming pool and a playground. Some units have fireplaces. With a current 95% occupancy and a stabilized tenant base the property is a turnkey operation to a new owner.
Area Description
The property fronts on the well-trafficked Spring Valley Road just off of Interstate 75. The DART bus stops right at the property entrance making for easy public commuting to downtown Dallas. Amber Dawn is located next to Richardson, a suburb just outside of Dallas. The Dallas/Ft. Worth area is an appreciating market with population increasing at a steady rate. This stable economy is further enhanced by 17 Fortune 100 World Headquarters in the area. Dallas just became the second largest retirement city in America as the increasing elder population seeks areas with affordable standards of living.
Proforma
NOI $439,867
CAP Rate 8.1%
Occupancy 95%
Livable Sq. Ft. 146,972
Year Built 1974
Year Renovated 2006
Sanctuary Properties specializes in out-of-state investing for West Coast clients offering multi-family, retail and office properties. For more information on Amber Dawn and other available properties, please contact:
Jim Dutka
Principal & Broker
818-888-9745
jdutka@sanctuaryproperties.net
Ben Van Gaasbeek
Senior Broker
214-295-4463
benv@sanctuaryproperties.net
Peter Ferguson
Executive Assistant
818-888-9745
pferguson@sanctuaryproperties.net
