Cash Cow 23-Unit Apartment Complex in a C Grade Area Near Downtown
3100 Botham Jean Blvd, Dallas
ROI
23.06% IRR
Strategy
Long Term Rental
Cash cow 23-unit apartment complex in a C grade area near downtown. 19 units occupied at $1225/mo with positive cashflow from day one. 10% cap rate once stabilized. 23-unit complex built in 1963. All 2 bed, 1 bath units. 19 units occupied for $1225/mo. 8.5% cap rate with current occupancy, over 10% cap rate when fully stabilized with a $2.4M FMV assuming 8.5% exit cap.
