6-Unit Value-Add Next to Bishop Arts District with Long, Mid, and Short-Term Rental Potential
601 S Oak Cliff Blvd, Dallas
ROI
21.23% 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, 2 units do not have CO’s. 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. Only 4 units have CO’s.
