Address:

Walnut St, Dallas, TX 75243

First come first serve

Some Vacant and on Lockbox

Call 972 499 6809 to walk this property

15 Total Condos

[Richardson ISD School District]

• VALUE ADD: raise rents + occupy 3 vacant units
• Currently POSITIVE cash flowing with under market rents
• HOA covers: water, trash, sewer, insurance || HOA: $3,623.52/month ($241 for each unit per m)
• 12/15 units occupied
• 3 units will be remodeled and are the ones that are vacant.
• M212 is section 8 rent bumped $160 from 990 to 1,150 effective D
• 4-5 units have new HVACS
• OPEN TO SELLER FINANCE OFFERS, WILL PRIORITIZE CASH OFFERS**

CURRENT #'s:

• (12 out of 15 units): $10,980 / MONTH GROSS RENTS 
• $131.7k GROSS RENTS - $76.6k (taxes + HOA) = $55.1k NOI / YEAR

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Taxes: $2,773 / month

Taxes: $33,276 / year

PERFORMA #'s:

• 223.8k GROSS RENTS - 76.6k (taxes + HOA) = $147.2k NOI / YEAR

Unit Specs:

1 - Studios : (B301) currently rented at $850 | (rent rates: $1k)

5 - LOFTS - 2bed 2 bath :(E105, K201, M214, N202, T213) currently rented at $874(rent rates $1.250k)

3 - 1bed 1 bath : (E102, F202, L113) currently rented at $850 (rent rates $1.1k)

6 - 2bed 2 bath : (B204, L203, M212, N211, Q203, H208) currently rented at $1k (rent rates $1.35k)

Pictures/Financials (Excel sheet --- bottom page - click Tab that says 'Richland Trace Condos'

https://drive.google.com/drive/folders/1UzgcNl0xthY4tN4Pqyl89Yvn_JgBEL5Q

Video Walkthrough:

https://drive.google.com/drive/folders/1-5bu9vLndwoGZaa3n8Jbs9xc9sHevJfW

Leases:

https://drive.google.com/drive/folders/18z-JaES1BD3PvaIQZDvcjPPthPY3VQBt

Call/Text Crysta if interested in this one!

972-499-6809

Asking: $1.25M

Open to owner finance!

Cash offer is preferred