P h i l l i p s Duplex Portfolio For Sale 2738, 2740, 2749, & 2751 Meadow Gate Lane Dallas, TX 75237 For Additional Information Contact: Kevin Lewis Seema Chaturvedi Benjamin Phillips, CCIM 214-526-3820 kevin@phillipscommercial.com seema@phillipscommercial.com benjamin@phillipscommercial.com www.phillipscommercial.com Co mmerci al Offering Summary 2 Duplex Properties Asking Price $523,000
Property Information and Area Highlights Two, One Story, Duplex Property Investments: Great Investment Opportunity in a sought after neighborhood in 2740, & 2749 Meadow Gate have new dishwashers in 2017. 2738 South Dallas. Property being sold as a package of 2 Duplex Units, Meadow Gate has a new range/oven replaced in 2017. 100% Leased. Convenient location - Minutes from highways - Rt 67, The Roof on 2749/2751 Meadow Gate is in the process of being Rt 20 and 35E, Schools, Restaurants, Banks, Parks and Shopping. replaced (coming soon). Leases are on Texas Association of Realtors lease forms and the One block from Ronald E. McNair Elementary School. earliest expiration is March 2019 with the exception of one unit being One block from Meadow Stone City Park. month-to-month (having occupied for approximately 18 months) Local Shopping includes the Wheatland Towne Crossing shopping and the latest is July 2019. Rents range from $1,100 to $1,250 with center: tenants paying all utilities and responsible for lawncare and pest * Dollar Tree control. * Target * Petsmart All units have been repainted with two-tone cream walls and white * CareNow Urgent Care trim. 2751 Meadow Gate HVAC unit was fully replaced in 2016. 2738, * Several Restaurants and Fast Food Asking Price: Description: Legal Description: Call for Pricing 2-Duplex Residential Properties - 100% Occ. Redbird Meadows, BLK F/6928 LOT 5 & BLK E/6928 LOT 3 Location: 2738, 2740, 2749, & 2751 Meadow Gate Lane Dallas, TX 75237 Lot Acres: 0.1928 + 0.1928 Acres Living Area: Year Built: Zoning: Foundation: Construction: Roof: 2,464 + 2,694 SF 1971 Townhouse District 3 Slab Wood Frame with Exterior Brick Masonry Pitched with Composition Shingles Fenced: Yes - Wood Fence HVAC: Central HVAC 2017 Phillips Commercial Real Estate Services, Inc. All Rights Reserved Elementary School Subject Properties Park Shopping
Financial Pro Forma POTENTIAL RENTAL INCOME $56,092 - VACANCY & CREDIT LOSSES $3,950 EFFECTIVE RENTAL INCOME $52,565 + OTHER INCOME $1,272 GROSS OPERATING INCOME $53,837 OPERATING EXPENSES LEASING COMMISSIONS $1,250 PROPERTY INSURANCE $2,973 REPAIRS & MAINTENANCE $1,600 REAL ESTATE TAXES $8,854 PROPERTY MANAGEMENT $5,114 TOTAL OPERATING EXPENSES $19,792 NET OPERATING INCOME $33,045 CAP Rate 6.32% CAP at Asking Price of $523,000 2017 Phillips Commercial Real Estate Services, Inc. All Rights Reserved
Contact Kevin Lewis Associate 214-404-3966 kevin@phillipscommercial.com KW Commercial / Phillips Commercial 4783 Preston Rd., Suite 100 Frisco, TX 75034 214-526-3820 www.phillipscommercial.com Seema Chaturvedi Associate 972-469-3345 seema@phillipscommercial.com Benjamin Phillips, CCIM Managing Director 214-681-7943 benjamin@phillipscommercial.com Disclaimer: All materials and information received or derived from Phillips Commercial Real Estate Services, Inc. its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party s intended use or any and all other matters. Neither Phillips Commercial Real Estate Services, Inc. its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party s active conduct of its own due diligence to determine these and other matters of significance to such party. Phillips Commercial Real Estate Services, Inc. will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. Phillips Commercial Real Estate Services, Inc. makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. Phillips Commercial Real Estate Services, Inc. does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencieså. All properties and services are marketed by Phillips Commercial Real Estate Services, Inc. in compliance with all applicable fair housing and equal opportunity laws. All Rights Reserved Phillips Commercial Real Estate Services, Inc. 2017
KW Commercial / Phillips Commercial 473962 barbaratrumpbull@gmail.com (972)712-9898 Barbara Trumpbull 432445 barbaratrumpbull@gmail.com (972)712-9898 Kevin Cannon 595988 kevincannon@kw.com (972)712-9898 Benjamin Phillips 537615 benjamin@phillipscommercial.com (214)526-3820 Phillips Commercial Real Estate Services, Inc., P.O. Box 835481 Richardson, TX 75083 214-526-3820 214-347-7361 E-Mail Link Benjamin Phillips