1516 W 7th St, Irving, TX 75060
- $1,850,000
- 20
- BD
- 12
- BA
- List Price
- $1,850,000
- Price Change
- ▼ $50,000 1776116324
- MLS#
- 21231711
- Status
- PENDING
- Type
- Multifamily
- Subtype
- ResidentialIncome
- Year Built
- 1972
- Construction Status
- Preowned
- Bedrooms
- 20
- Full Baths
- 10
- Half Baths
- 2
- Acres
- 0.88
- County
- Dallas
- City
- Irving
- Subdivision
- Irving Park Acres
- Building Name
- Elm Road Apartments
Property Description
This multifamily property presents a compelling opportunity for investors seeking value-add potential in the Dallas-Fort Worth market. Serious Portfolio Value Add! this asset offers the ability to increase income through strategic improvements and rental adjustments. The property features multiple units with functional layouts and a location positioned within a strong rental corridor. Current operations provide a foundation for increased net operating income, with market data supporting higher rental rates in the area. 10 units, 1,2, and 3 bedroom choices. 4 buildings for tenants and an extra building for storage! So much potential in one property in a high renter populated city. This is truly a special income property. Investors will appreciate the opportunity to enhance cash flow through: Rental rate optimization based on local comparables Interior and exterior updates Operational efficiencies This opportunity may be suitable for investors looking to expand or diversify a real estate portfolio within a high-demand region. Additional financials, rent roll, and property details available upon request. With its prime Irving location, strong tenant appeal, conveniently located between Dallas and Ft. Worth. With a solid 13.5 NOI, and a 4.9% cap rate, this property represents both stability and opportunity for investors.
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Additional Information
- Unexempt Taxes
- $37,106
- Lot Size
- 38,507
- Acres
- 0.88
- Interior Features
- Decorative Designer Lighting Fixtures, Cable TV
- Flooring
- Other
- Foundation
- Slab
- Roof
- Asphalt
- Stories
- 2
- Pool Features
- None
- Parking Garage
- Additional Parking, Garage, Other
- School District
- Irving Isd
- Elementary School
- Haleyj
- Middle School
- Bowie
- High School
- Nimitz
- Possession
- CloseOfEscrow
Mortgage Calculator
Listing courtesy of Diane Carpenter from 24fifteen Realty. Contact: 972-942-0222