2733 Patricia, Garland, Texas 75041

$485,000
8
BD
List Price
$485,000
MLS#
14212995
Status
ACTIVE CONTINGENT
Type
Multifamily
Year Built
1984
Construction Status
Preowned
Bedrooms
8
Full Baths
4
Half Baths
4
Acres
0.36
County
Dallas
Area
GARLAND AREA (24)
City
Garland
Subdivision
English Estates 6 Wimbledon Garden
Building Name
Wimbledon Garden

Property Description

Great investment opportunity! Fully occupied and cash flowing 4 plex. Cap rate of 7.11%. Each unit has spacious, functional layout with 2 beds and 1 full bath upstairs, and living, dining, kitchen and half bath down. There is parking in the driveways in alley or on street. 2 units were lightly remodeled a few years ago, the other 2 units in great condition. Pictures are of one of the units that have not been remodeled when it was vacant in August. All 4 units are currently rented out under market value. Market value rent supports rents of $1075-1125. Cap rate increases to 8.2% with increased rents. DOM has typically been under 30 days when leasing.

Additional Information

Unexempt Taxes
$10,711
HOA
No HOA
Annual Insurance
1800
Gross Annual Expenses
13011
Gross Annual Income
47520
Lot Size
15,681
Acres
0.36
Lot Description
Corner, Some Trees
Subdivided
No
Interior Features
Cable TV Available, High Speed Internet Available, Window Coverings
Flooring
Carpet, Vinyl
Foundation
Slab
Roof
Composition
Stories
2
Street Utilities
Alley, City Sewer, Curbs, Sidewalk
Heating Cooling
Central Air-Elec, Central Heat-Elec
Exterior
Patio Open
Construction Material
Brick, Siding
Parking Garage
On Street, Rear, Uncovered
Total Num Parking
8
School District
Garland Isd
Elementary School
Choice Of School
Middle School
Choice Of School
High School
Choice Of School
Proposed Financing
Cash, Conventional
Building Sq. Ft.
4944
Number of bldgs.
1
Number of units
4
Occupancy Rate
100
Possession
Closing/Funding, Lease Outstanding
Cap Rate
7.12

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of JP & Associates Plano.