4716 Sycamore StDallas, TX 75204

This exceptional 21-unit apartment building, situated on a 0.48-acre lot in Dallas, Texas' desirable Old East Dallas submarket (4716 Sycamore St, 75204), presents a compelling investment opportunity. Boasting a 100% occupancy rate and a substantial Net Operating Income (NOI) of $178,359, this property offers a 5.96% capitalization rate. The 14,750 square feet of net rentable space is comprised of a mix of unit sizes, with 38% being two-bedroom units, providing a competitive edge in the market. Each unit features individual electric meters and HVAC systems, enhancing tenant appeal. Hot water is supplied via a central boiler system. Recent capital improvements encompass exterior painting, roof repairs, interior unit upgrades, and enhancements to common area walkways and railings. The property benefits from a robust plumbing system, upgraded in the 1980s with copper and PVC piping. An on-site coin-operated laundry facility generates supplemental income (estimated $200-$300 monthly). Ample parking (29 spaces) and additional storage space (two large storage facilities plus boiler room space) are available. The property is fully fenced for enhanced security. Each unit is individually deeded, offering the potential for future condo conversion and individual unit sales. A Freddie Mac non-recourse loan with a $1,278,000 principal balance, 4.54% interest, and a maturity date of January 1st, 2039, is in place and assumable. New financing options are available with loan-to-value ratios ranging from 65% to 75%, a 6.64% interest rate, and a 30-year amortization over a 5-year term. The property's location offers high walkability, situated amongst single-family homes valued between $300,000 and $1,330,000 (per Zillow estimates), and benefits from the ongoing growth and gentrification of the Old East Dallas submarket. This property offers a unique blend of immediate cash flow and long-term appreciation potential.