312 Hickerson Street Active Save Request In-Person Tour Request Virtual Tour
Cedar Hill,TX 75104
Key Details
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Active
Purchase Type For Sale
Subdivision Ed Balcoms Rev
MLS Listing ID 21015329
Total Fin. Sqft 6786
Year Built 1985
Annual Tax Amount $25,800
Lot Size 0.483 Acres
Acres 0.4835
Property Sub-Type Hotel/Motel
Property Description
Profitable Multifamily complex investment. 312 Hickerson is an 8-unit apartment complex which contains 8 separate apartment units, 6 are 2 bedroom and 2 bath units that rent for $1,500 per month. Two are 1 bedroom and 1 bath units that rent for $1,100 per month. Five of the 8 units have been completely remodeled in the last 24 months down to the studs including new stainless steel appliances, new flooring, new plumbing & electrical fixtures. These include 4-two bedroom units and 1-one bedroom unit. In the current configuration, the annual rent is $126,000. Expensed are the property taxes, currently at $25,800 annually, insurance, $8569, repairs, maintenance and management fees are $7,500, and vacancy rate is negligible. Total annual expenses are $41,869. This leaves a total profit before taxes of $84,131 which shows a market CAP of 5.6. Seventy percent of the close knit community residing at 312 Hickerson has lived there 8 plus years with some much longer.
Location
State TX
County Dallas
Zoning OLD TOWN RES
Direction From Hwy 67, Going North toward Dallas, take Cooper Street Exit, turn left then turn right on Hardy, then Left on Hickerson. From Hwy 67, Going South from Dallas, take Cooper Street Exit then turn right on Hickerson. Apartment is on the left in the second block.
Interior
Heating Central
Cooling Central Air
Flooring Vinyl
Heat Source Central
Exterior
Utilities Available All Weather Road,Cable Available,City Sewer,City Water,Electricity Available
Roof Type Concrete
Garage No
Building
Lot Description Subdivision
Foundation Slab
Structure Type Brick
Others
Ownership See Agent
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Special Listing Condition Aerial Photo
Virtual Tour https://www.propertypanorama.com/instaview/ntreis/21015329