Located in the highly desirable Oak Lawn corridor, this rare 12-unit multifamily asset at 4002 Prescott Ave offers a compelling blend of historic character and long-term investment stability.? Originally constructed in 1929, the property retains its timeless appeal with original hardwood flooring, vintage cabinetry, and classic countertops, providing a unique… Read More charm that is increasingly difficult to replicate in today’s market.? Situated on approximately a quarter-acre lot, the property benefits from an exceptional location just minutes from Highland Park and the vibrant Lemmon Avenue corridor.? Tenants enjoy immediate access to a wide array of restaurants, grocery stores, retail, and everyday conveniences, making this a consistently desirable rental location.? The asset consists of twelve residential units plus an additional apartment above the carport, offering supplemental income potential.? Ownership has maintained the property with key capital improvements, including updated plumbing, electrical systems, and roof, reducing near-term deferred maintenance concerns.? Currently averaging approximately $1,200 per unit in monthly rent, the property presents a strong in-place income stream with additional upside through operational efficiencies and potential rent growth.? The current owner has personally managed the property since 1996 and occupies one of the units, reflecting long-term stewardship and pride of ownership.? Offered as-is, this is a rare opportunity to acquire a well-located, character-rich multifamily asset in one of Dallas’ most sought-after rental submarkets.? Read Less
Courtesy of Robert C. Murray Realty, Robert Murray.
Listing Snapshot
Days Online
48
Last Updated
Property Type
Apartment
Beds
12
Full Baths
12
Lot Size
0.23 Acres
Year Built
1929
MLS Number
21260036
Additional Details
Building
Built in 1929, Construction materials: Brick, Levels: Two, 1 building, 2, Toal building area: 3984
Community
CommunityMailbox
Cooling
CeilingFans, WindowUnits
Expenses
Insurance: $15,000
Floors
Hardwood
Heating
FloorFurnace
Income
Gross income: $168,000, Net operating income: $100,000
