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SAN JACINTO APARTMENTS3604 San Jacinto St., Dallas, TX 75204

LOGAN [email protected]

WA L L E R G R O U P, L . L . C .5115 McKinney Ave

Dallas, TX 75205214.736.1500

https:wallergrouphomes.com

Presented By:

M U L T I F A M I L Y P R O P E R T Y F O R S A L E

WALLER GROUP || 5115 McKinney Ave || Dallas, TX 75205 || 214.736.1500 || https:wallergrouphomes.com 2

C O N F I D E N T I A L I T Y & D I S C L A I M E R

3604 San Jacinto St., Dallas, TX 75204San Jacinto Apartments

CONFIDENTIALITY & DISCLAIMERAll materials and information received or derived from Waller Group, L.L.C. 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 Waller Group, L.L.C. 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. Waller Group, L.L.C. 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. Waller Group, L.L.C. makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. Waller Group, L.L.C. 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. Real estate contract law and agency representation questions should be directed to the broker of record in the applicable state of the subject property. 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 agencies. All properties and services are marketed by Waller Group, L.L.C. in compliance with all applicable fair housing and equal opportunity laws.

Copyright © 2020 CREOP, LLC. All Rights Reserved.


O F F E R I N G P R O C E D U R E S



$805,000

9

0.21 Acres

1961

5,600

2018

East Dallas

$89,444

OFFERING SUMMARY

Sale Price:

Number Of Units:

Lot Size:

Year Built:

Building Size SF:

Renovated:

Submarket:

Price/unit:

Price / SF: $143.75

PROPERTY OVERVIEW

This property is comprised of 9 - 1 bedroom units. Units 102, 104 and 105 have been completely remodeled. All remaining units have interior renovations which include wood floors, new countertops, and resurfaced tubs in a few units. Proforma rents have been based on the effective rent of the unit with these improvements. Tenants pay all utilities while owner pay just main exterior lights. Property does not have central AC and has gas heat. Waller Group Property Management currently manages the property and can continue with new owner. Seller requires minimum $5,000 non-refundable earnest money upon contract and a qualified LOI for tours. Offers at $795,000 have been declined.

LOCATION OVERVIEW

With its hip, up-and-coming neighborhoods and proximity to employment centers, East Dallas is an alternative for millennials priced out of the Uptown/Park Cities Submarket. Development continues to push eastward in this submarket, leading to the gentrification of many historically depressed areas. Areas benefiting from this attention include neighborhoods like Old East Dallas and the Baylor Medical Center area just north of Deep Ellum, as well as already established neighborhoods like the M Streets, Greenland Hills, KnoxHenderson and Lower Greenville. East Dallas neighborhoods are frequently mentioned as gentrifying, but demographic trends show that only a few select neighborhoods are being spruced up. The submarket has a median annual household income of about $50,000 (compared with the metro average of more than $65,000), and incomes are rising but only along the North Central Expressway, near the Baylor Medical Center and in the wealthier Lakewood area. Due to this dynamic, developers are looking to draw renters from outside the submarket or even outside the metroplex to fill their pricier new properties.

E X E C U T I V E S U M M A R Y



COMMUNITY FEATURES

• Hip up-and-coming neighborhood for millennialtenants

• Ample surface parking for tenants.

INTERIOR FEATURES

• 1 bedroom units

• Property updates include new floors and updatedcountertops

VALUE-ADD OPPORTUNITIES

• Some units have been renovated/upgraded withupdated floors, countertops, and tub resurfacing.There is room for a value add by completing theremodel in remaining units. There is also a unit thatcould be split to add an additional studio or 1bedroom unit and an addition to a laundry facility onsite.

F E A T U R E S


SALE PRICE $805,000

LOCATION INFORMATION

Building Name San Jacinto Apartments

Street Address 3604 San Jacinto St.

City, State, Zip Dallas, TX 75204

County/Township Dallas

Market Dallas

Submarket East Dallas

BUILDING INFORMATION

Building Size 5,600 SFOccupancy % 88.9Number Of Floors 2Year Built 1961Last Renovated 2018Load Factor YesExterior Walls BrickFoundation Piers

PROPERTY DETAILS

Property Type Multifamily

Property Subtype Low-Rise/Garden

Lot Size 0.21 Acres

Submarket East Dallas

PARKING & TRANSPORTATION

Parking Description Surface parking lot

UTILITIES & AMENITIES

Central HVAC Window units

TAX INFORMATION

Taxes $15,089.39Tax Value Land $321,550.00Tax Value Improvements $230,450.00


P R O P E R T Y D E T A I L S



A D D I T I O N A L P H O T O S



L O C A T I O N M A P S



UNIT

NUMBER

UNIT

BED

UNIT

BATH

UNIT

SIZE (SF)CURRENT

RENT

CURRENT

RENT (PER SF)

102 1 1 560 $795 $1.42

103 1 1 560 $750 $1.34

104 1 1 560 $825 $1.47

105 1 1 560 $825 $1.47

201 1 1 $770

202 1 1 560

203 1 1 560 $750 $1.34

204 1 1 560 $800 $1.43

205 1 1 560 $750 $1.34

Totals/Averages 5040 $6,265 $1.24

R E N T R O L L


560 $1.37


R E N T C O M P A R A B L E S



1 Dallas, TX75246

4400 GASTON AVE2 Dallas, TX

75204

4611 MUNGER AVE

3604 San Jacinto St. | Dallas, TX 75204SUBJECT PROPERTY

R E N T C O M P S M A P



1 MILE 2 MILES 3 MILES

Total population 22,290 83,098 148,674

Median age 30.1 32.2 33.3

Median age (Male) 30.3 32.9 33.7

Median age (Female) 29.1 31.2 32.7

Total households 10,730 42,360 70,854

Total persons per HH 2.1 2.0 2.1

Average HH income $63,974 $82,079 $89,666

Average house value $216,256 $240,435 $250,507

* Demographic data derived from 2010 US Census

D E M O G R A P H I C S R E P O R T



D E M O G R A P H I C S



POPULATION 1 MILE 2 MILES 3 MILES

Total population 22,290 83,098 148,674

Median age 30.1 32.2 33.3

Median age (Male) 30.3 32.9 33.7

Median age (Female) 29.1 31.2 32.7

HOUSEHOLDS & INCOME 1 MILE 2 MILES 3 MILES

Total households 10,730 42,360 70,854

# of persons per HH 2.1 2.0 2.1

Average HH income $63,974 $82,079 $89,666

Average house value $216,256 $240,435 $250,507

* Demographic data derived from 2010 US Census

D E M O G R A P H I C S M A P


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