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6-Unit Value-Add Next to Bishop Arts District with Long, Mid, and Short-Term Rental Potential

601 S Oak Cliff Blvd, Dallas
ROI
20.81% IRR
Strategy
Short Term Rental
6-unit value-add next to Bishop Arts district with long, mid, and short-term rental potential. (4) 2 bed, 1 bath units and (2) 1 bed, 1 bath units. (5) units are occupied m2m, (1) is vacant. All units will need full cosmetics. ARV $900k+. $8800/mo gross long-term rents, $12k/mo mid-term, $14-15k/mo short-term. 5,484 sq ft 6-unit complex built in 1936. (4) 2 bed, 1 bath units and (2) 1 bed, 1 bath units. (5) units are currently occupied m2m, (1) is vacant. All units will need full cosmetics to be brought up to market rents, or to convert to a furnished mid-term or short-term rental.

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6-Unit Value-Add Next to Bishop Arts District with Long, Mid, and Short-Term Rental Potential

Listed 09/29/2023

601 S Oak Cliff Blvd, Dallas

Purchase Price:$675,000

Cash Outlay:$341,000

Cashflow:$2,277/mo

Cap Rate:8.72%

IRR:20.81%

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