South Dallas SFR Portfolio

Investment Overview

The South Dallas SFR Portfolio is a 3rd generation portfolio made up of 123 units all located in Dallas County with the majority being in South Dallas neighborhoods – Such as Cockrell Hill, Oak Cliff, Fair Park and Wheatley place. 

Currently, the portfolio is 83% occupied with an average unit size of 789 SF and an average vintage of 1939. With the majority of the properties being Single Family Homes, there is a mix of Duplexes and Quadplexes as well. Across the 123 units, there are 220 bedrooms and 126 bathrooms. 

Annually, the property had an Effective Gross Income of $1,275,395 which accounts for a vacancy rate of 20% and minimal Fee Income. When adjusting for market rents, the ProForma EGI is closer to $1,603,449 – Which assumes a 10% vacancy rate, 3% delinquencies/concessions, and flat Fee Income. 

In total, this portfolio includes 97,003 Rentable Square Feet with rents that are well below market. With this portfolio being offered below the Appraised Value, this presents an opportunity for experienced operators to step into a cash flowing investment with immediate upside.