FOR SALE - MAGNOLIA ON CAPITOL

Transcription

1 FOR SALE - MAGNOLIA ON CAPITOL BOUTIQUE 16 UNIT - KNOX HENDERSON 5209 CAPITOL, DALLAS, TX MULTI FAMILY OFFERING

2 PROPERTY DESCRIPTION Magnolia Apartments is the best located asset for this submarket. The property is well located and is visible to those traveling along Henderson Avenue. The subject property offers an investor the opportunity to purchase a property in excellent condition with minimal deferred maintenance while increasing rents which are below market. The property s exterior is attractive and compromised mainly of brick. Constructed in 1950 with a pier and beam foundation and pitched composite shingle roofs, units have hard wood flooring, countertops, fixtures and cabinets. Air conditioning is delivered via individual HVACS. Knox/Henderson Apartments is located just minutes from the Knox Street shopping district with notable retailers such as Apple, Chuy s, Trader Joe s and Restoration Hardware. Knox Street shopping district is bound by Knox Street, North Central Expressway, Armstrong Avenue and the Katy Trail. PROPERTY DETAILS PRICE: $2,500,000 NO. OF UNITS: 16 BUILDING SIZE: ±10,920 sf PRICE/UNIT: $156, PROPERTY TYPE: Multifamily PROPERTY USE: Investment CAP RATE: 5% OCCUPANCY: 100% NO. STORIES: 2 YEAR BUILT: 1950 LOT SIZE: ±20,000 sf RENT ROLL TOTALS ACTUAL RENT $16, TOTALS $16, PROFORMA RENT $18, TOTALS $18, FINANCIAL SUMMARY ANALYSIS TYPE Stablized Proforma YEAR 2017 SCHEDULED GROSS INCOME $221, PROFORMA VACANCY (5%) ($11,040.00) OPERATING EXPENSES $88, NET OPERATING INCOME $122,118.41

3 STABILIZED PRO FORMA Total % of Gross Income Per Door INCOME BASE RENT & OTHER INCOME Base Rent $220, $13, % Vacancy Factor ($11,040.00) (5%) ($690.00) Laundry Income $1, TOTAL GROSS INCOME $210, $13, OPERATING EXPENSES ADMINISTRATIVE Total Administrative ($12,890.00) (6%) ($805.63) REPAIR & MAINTENANCE Total Repair & Maintenance ($5,705.89) (3%) ($356.61) UTILITIES Electric ($1,542.22) (1%) ($96.38) Gas ($2,062.18) (1%) ($128.88) Dumpster ($916.94) (1%) ($57.30) Water and Sewer ($3,292.45) (1.5%) ($205.77) LEGAL, FINANCE & INS. Total Legal, Finance, & Ins. ($14,400.00) (7%) ($900.00) TAXES Total Taxes ($48,000.00) (23%) ($3,000.00) TOTAL OPERATING EXPENSE ($88,809.68) (42%) ($5,550.61) NET OPERATING INCOME $122, (58%) $7,632.40

4 RENT ROLL UNIT UNIT TYPE SQ FEET CURRENT RENT MARKET RENT 5209A 1 BED/1 BATH 651 $ $ B 1 BED/1 BATH 714 $1, $ C 1 BED/1 BATH 651 $1, $ D 1 BED/1 BATH 714 $ $ A 1 BED/1 BATH 651 $1, $ B 1 BED/1 BATH 714 $1, $ C 1 BED/1 BATH 651 $1, $ D 1 BED/1 BATH 714 $1, $ A 1 BED/1 BATH 651 $ $ B 1 BED/1 BATH 714 $ $ C 1 BED/1 BATH 651 $1, $ D 1 BED/1 BATH 714 $1, $ A 1 BED/1 BATH 651 $1, $ B 1 BED/1 BATH 714 $1, $ C 1 BED/1 BATH 651 $1, $ D 1 BED/1 BATH 714 $1, $ TOTALS 10,920 $16, $18,400.00

5 KNOX HENDERSON

6 AREA RETAILERS

7

8 5209 Capitol Dallas, TX 75206

9 5209 Capitol Dallas, TX 75206