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 $950,000, or $118,750 per unit, and provides investors with a stabilized traditional rental operation plus additional upside through furnished mid-term rentals, 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 $56,971, representing a 6.00% pro forma cap rate. Additional upside scenarios include a 2-unit furnished mid-term rental strategy with pro forma NOI of approximately $65,876 and a 2-unit short-term rental strategy with pro forma NOI of approximately $88,543.