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$1,550,000

Est. payment - /mo

0.48 Acres Lot

Active

312 Hickerson Street Cedar Hill, TX 75104

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J. Monique Clark

monique@primerealtydfw.com +1(662) 590-6650

UPDATED:

Key Details

Property Type Commercial

Sub Type Hotel/Motel

Listing Status Active

Purchase Type For Sale

Subdivision Ed Balcoms Rev

MLS Listing ID 21015329

Total Fin. Sqft 6786

Year Built 1985

Annual Tax Amount $25,800

Lot Size 0.483 Acres

Acres 0.4835

Property Sub-Type Hotel/Motel

Property Description

Profitable Multifamily complex investment. 312 Hickerson is an 8-unit apartment complex which contains 8 separate apartment units, 6 are 2 bedroom and 2 bath units that rent for $1,500 per month. Two are 1 bedroom and 1 bath units that rent for $1,100 per month. Five of the 8 units have been completely remodeled in the last 24 months down to the studs including new stainless steel appliances, new flooring, new plumbing & electrical fixtures. These include 4-two bedroom units and 1-one bedroom unit. In the current configuration, the annual rent is $126,000. Expensed are the property taxes, currently at $25,800 annually, insurance, $8569, repairs, maintenance and management fees are $7,500, and vacancy rate is negligible. Total annual expenses are $41,869. This leaves a total profit before taxes of $84,131 which shows a market CAP of 5.6. Seventy percent of the close knit community residing at 312 Hickerson has lived there 8 plus years with some much longer.

Location

State TX

County Dallas

Zoning OLD TOWN RES

Direction From Hwy 67, Going North toward Dallas, take Cooper Street Exit, turn left then turn right on Hardy, then Left on Hickerson. From Hwy 67, Going South from Dallas, take Cooper Street Exit then turn right on Hickerson. Apartment is on the left in the second block.

Interior

Heating Central

Cooling Central Air

Flooring Vinyl

Heat Source Central

Exterior

Utilities Available All Weather Road, Cable Available, City Sewer, City Water, Electricity Available

Roof Type Concrete

Garage No

Building

Lot Description Subdivision

Foundation Slab

Structure Type Brick

Others

Ownership See Agent

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Aerial Photo

Virtual Tour https://www.propertypanorama.com/instaview/ntreis/21015329

North Texas Real Estate Info Systems (NTREIS) -MetroTex and Collin County (CCAR)

Listed by Vernon Mimms • RE/MAX Preferred Associates

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J. Monique Clark

Agent | License ID: 0783848

+1(662) 590-6650