307 W 4th St - Apartments FOR SALE


Irving, TX 75060
$900,000 USD
214-960-1565
307 W 4th St, Irving, TX for Sale
$900,000 USD
Apartments - FOR SALE
1/28
null | 6.45% Cap Rate

307 W 4th St
Irving, TX 75060


HIGHLIGHTS

  • 8-unit renovated multifamily asset in Irving’s Heritage District
  • Offered at $950,000, or $118,750 per unit
  • Base pro forma NOI of $56,971, representing a 6.00% pro forma cap rate
  • 100% occupied with all 1 bed / 1 bath units
  • Major CapEx completed: roof, electrical, mini-split AC , water heaters, interiors, kitchens, bathrooms, washer/dryers in 4 units, and gravel driveway
  • Upside through furnished mid-term rentals, compliant short-term rental strategy, and washer/dryer premiums

OVERVIEW

307 W 4th St is a renovated 8-unit multifamily asset located near Irving Heritage Crossing in the heart of DFW. The property is offered at $900,000, or $112,500 per unit, and provides investors with a stabilized traditional rental operation plus additional upside through furnished mid-term rentals, compliant short-term rental strategies, and in-unit washer/dryer premiums. The property consists of eight 1-bedroom / 1-bath units and is currently 100% occupied. Recent capital improvements include roof replacement, electrical upgrades, mini-split AC systems, water heaters, refreshed interiors, updated kitchens and bathrooms, LVP flooring, washer/dryers in 4 units, and a gravel driveway. These improvements reduce near-term CapEx exposure and simplify ownership for the next buyer. Base pro forma NOI is approximately $58,041, representing a 6.45% pro forma cap rate at the asking price. Additional upside scenarios include a 2-unit furnished mid-term rental strategy with pro forma NOI of approximately $66,945, representing a 7.44% pro forma cap rate, and a 2-unit short-term rental strategy with pro forma NOI of approximately $89,612, representing a 9.96% pro forma cap rate.

FOR SALE DETAILS

PRICE

$900,000 USD

PRICE/SF

$82 USD /SF

# OF UNITS

8

PRICE/UNIT

$112,500

CAP RATE

6.45%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1954

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,038 SF

ZONING

R-MF-2

APN/PARCEL ID

32521650510020000

ASK ABOUT THIS PROPERTY

Anthony VitnellVitnell ManagementMore Info
214-960-1565

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Anthony VitnellVitnell ManagementMore Info
214-960-1565

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.