Michelle Lim

REMAX Premier
License number: 0630492
phone: (972) 696-9546
 mobile: (214) 205-1338
 fax: (972) 403-2015
 www.mlzip.com
2100 Dallas Parkway Suite102
 Plano, TX 75093
$1,550,000
312 Hickerson Street, Cedar Hill, Texas 75104, USA
MLS#
21061019
Property type
Residential For Sale, Apartment
Land size
0.48 acres (0.2 ha)
Building Size
6,786 sqft (630.4 m2)
Status
Bedrooms
14
Baths
8
Sale price per sqm
0 $
Profitable 8-unit multifamily investment in a close-knit community at 312 Hickerson. Each unit has its own HVAC system, approximately 8 years old. The complex includes four updated 2-bedroom, 2-bath units renting for $1,500-month, two two-bedroom, 2-bath units not updated at $1,100-month, one one-bedroom, one bath not updated at $950-month, and one updated one-bedroom, one bath, at $1,100-month. All units also have their own small fenced backyard. Five units have been fully renovated in the last 24 months, including stainless steel appliances, flooring, plumbing, and electrical fixtures. Annual rental income is approximately $123,000, with expenses including taxes ($25,800), insurance ($8,569), and management fees ($7,500), leaving a profit before taxes of about $81,131 and a market CAP rate of roughly 5.6%. Seventy percent of residents have lived in the community eight or more years, demonstrating stability and a well-established tenant base. Minimal ongoing maintenance and recent updates make this property a turn-key investment opportunity. EACH UNIT SQUARE FOOTAGE IS APPROXIMATE AND BASED ON PUBLIC RECORDS; IT HAS NOT BEEN INDEPENDENTLY VERIFIED. BUYER TO DO DUE DILIGENCE.
Property Details
1985 Year Built:
Building or Complex name: Hickerson Apt Location:
Brick Construction:
Resale Condition:
Refrigerator, Dishwasher, Microwave, Disposal Appliances:
vinyl Floors:
Burglar Bars Security Features:
city water, City sewer Utilities:
Central Heating System:
Central, Electric Cooling System:
Cable Available Telecommunication:
On Slab Basement and Foundation:
Concrete Roofing:
Parking / Garage
8 Number of parking spaces:
Parking Lot, Assigned Space Parking type:
Lot Land Information
Less Than 0.5 Acre Lot size:
School Information
194 School District:
Highpointe Elementary School:
Cedar Hill High School:
Besse Coleman Middle School:

Listing by: RE/MAX Preferred Associates
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