Dallas Property Advisors, LLC is pleased to announce the exclusive listing of The Sycamore Tree Condominiums. Nestled in the residential neighborhood of Peak’s Suburban subdivision in Old East Dallas, 4716 Sycamore is a 21-unit multifamily complex. Each unit is separately deeded giving flexibility to the buyer in their exit… Read More strategy. Units are very spacious, averaging over 700 square feet and offer a variety of 1 and 2-bedroom floor plans. The building has central heating cooling, separate electric meters, ample parking, a spacious courtyard, and much more. Tenants love this subdivision because it is in a quiet neighborhood and close to Downtown, Knox Henderson, Lower Greenville, and Uptown.
The value lies in renovating the remaining units and getting all units to market. Additionally, there is currently no RUBS program which should be implemented to off set costs of the utilities. Lastly, there are two empty maintenance storage rooms on the 3rd floor that could be converted into
locker storage for additional income.
There is also an attractive Freddie Mac non-recourse loan that a buyer can potentially assume at an interest rate of 4.54, 30-year amortization, and a maturity date of January 2039. Or the property can be purchased free and clear of debt. Read Less
Courtesy of Dallas Property Advisors, LLC, Matteo Faeth.
Listing Snapshot
Days Online
1
Last Updated
Property Type
Apartment
Beds
29
Full Baths
21
Partial Baths
8
Lot Size
0.48 Acres
Year Built
1972
MLS Number
21421605
Additional Details
Appliances & Equipment
ElectricRange, Refrigerator
Building
Built in 1972, Year Built Details: Preowned, 1 building, Levels: ThreeOrMore, Construction Materials: Stucco
Cooling
CentralAir
Expenses
Insurance: $20,000
Fence
Wood
Floors
CeramicTile, Laminate
Foundation
Slab
Heating
Central
Income
Gross Income: $337,980, Net Operating Income: $204,046
Interior Features
MultipleStaircases, WalkInClosets
Lot
0.4821 acres, InteriorLot
Parking
29 total parking spaces, Common
Pool
None
Property
Resale
Roof
Shingle
Sewer
PublicSewer
Taxes
Parcel Number: 00C70750000A00101
Utilities
SewerAvailable, WaterAvailable, Water Source: Public
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