SAN JACINTO APARTMENTS€¦ · San Jacinto Apartments 3604 San Jacinto St., Dallas, TX 75204...

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 & DISCLAIMER

All 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 withoutrepresentation or warranty as to completeness , veracity, or accuracy, condition of theproperty, compliance or lack of compliance with applicable governmental requirements,developability or suitability, financial performance of the property, projected financialperformance 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 anyrepresentation or warranty, express or implied, as to accuracy or completeness of the anymaterials or information provided, derived, or received. Materials and information fromany source, whether written or verbal, that may be furnished for review are not asubstitute for a party’s active conduct of its own due diligence to determine these andother matters of significance to such party. Waller Group, L.L.C. will not investigate orverify any such matters or conduct due diligence for a party unless otherwise agreed inwriting .EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION ANDDUE DILIGENCE .Any party contemplating or under contract or in escrow for atransaction is urged to verify all information and to conduct their own inspections andinvestigations including through appropriate third party independent professionalsselected by such party. All financial data should be verified by the party including byobtaining and reading applicable documents and reports and consulting appropriateindependent professionals. Waller Group, L.L.C. makes no warranties and/orrepresentations regarding the veracity, completeness, or relevance of any financial dataor assumptions. Waller Group, L.L.C. does not serve as a financial advisor to any partyregarding any proposed transaction. All data and assumptions regarding financialperformance, including that used for financial modeling purposes, may differ from actualdata or performance. Any estimates of market rents and/or projected rents that may beprovided to a party do not necessarily mean that rents can be established at or increasedto that level. Parties must evaluate any applicable contractual and governmentallimitations as well as market conditions, vacancy factors and other issues in order todetermine rents from or for the property. Legal questions should be discussed by theparty with an attorney. Tax questions should be discussed by the party with a certifiedpublic accountant or tax attorney. Title questions should be discussed by the party with atitle officer or attorney. Real estate contract law and agency representation questionsshould 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 complieswith applicable governmental requirements should be discussed by the party withappropriate engineers, architects, contractors, other consultants and governmentalagencies. All properties and services are marketed by Waller Group, L.L.C. in compliancewith all applicable fair housing and equal opportunity laws.


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



OFFERING SUMMARY

Sale Price: $820,000

Number Of Units: 9

Lot Size: 0.21 Acres

Year Built: 1961

Building Size: 5,600

Renovated: 2018

Market: Dallas

Submarket: East Dallas

Price / SF: $146.43

This property is comprised of 9 - 1 bedroom units. Units 102, 104 and 105 have been completely remodeled. All remainingunits have interior renovations which include wood floors, new countertops, and resurfaced tubs in a few units. Proforma rentshave been based on the effective rent of the unit with these improvements. Unit 101 is not currently occupied and could bedivided to create a laundry facility on site or brought up to market condition. Tenants pay all utilities while owner pay just mainexterior lights. Property does not have central AC and has gas heat. Waller Group Property Management currently managesthe property and can continue with new owner.

PROPERTY OVERVIEW

With its hip, up-and-coming neighborhoods and proximity to employment centers, East Dallas is an alternative for millennialspriced out of the Uptown/Park Cities Submarket. Development continues to push eastward in this submarket, leading to thegentrification of many historically depressed areas. Areas benefiting from this attention include neighborhoods like Old EastDallas and the Baylor Medical Center area just north of Deep Ellum, as well as already established neighborhoods like the MStreets, Greenland Hills, KnoxHenderson and Lower Greenville. East Dallas neighborhoods are frequently mentioned asgentrifying, but demographic trends show that only a few select neighborhoods are being spruced up. The submarket has amedian annual household income of about $50,000 (compared with the metro average of more than $65,000), and incomesare 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 filltheir pricier new properties.

LOCATION OVERVIEW

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 $820,000

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 SF

Occupancy % 78.0

Number Of Floors 2

Year Built 1961

Last Renovated 2018

Load Factor Yes

Exterior Walls Brick

Foundation 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 $15,010.11

Tax Value Land $321,550.00

Tax 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)

LEASE

START

LEASE

END

CURRENT

RENT

CURRENT

RENT (PER SF)

SECURITY

DEPOSIT

102 1 1 600 6/1/2018 5/31/2019 $750 $1.25 $295

103 1 1 750 8/28/2017 7/31/2019 $650 $0.87 $0

104 1 1 600 1/16/2018 12/31/2018 $800 $1.33 $500

105 1 1 600 1/15/2018 12/31/2018 $800 $1.33 $800

201 1 1 5/18/2018 5/31/2019 $750 $1,000

202 1 1 600

203 1 1 570 08/20/2018 08/30/2019 $750 $1.32 $500

204 1 1 600 7/6/2018 7/31/2019 $750 $1.25 $1,000

205 1 1 580 9/1/2018 8/31/2019 $750 $1.29 $630

101 1 1

Totals/Averages 4,900 $6,000 $1.22 $4,725

R E N T R O L L



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


SAN JACINTO APARTMENTS€¦ · San Jacinto Apartments 3604 San Jacinto St., Dallas, TX 75204...

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