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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
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.

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

Listed 11/14/2023

601 S Oak Cliff Blvd, Dallas

Purchase Price:$600,000

Cash Outlay:$342,000

Cashflow:$2,600/mo

Cap Rate:9.31%

IRR:21.23%

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