About 312 Hickerson Street 8
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.
Features of 312 Hickerson Street 8
| MLS® # | 21061019 |
|---|---|
| Price | $1,550,000 |
| Bedrooms | 14 |
| Bathrooms | 8.00 |
| Full Baths | 8 |
| Acres | 0.48 |
| Year Built | 1985 |
| Type | Residential Income |
| Sub-Type | Apartment |
| Status | Active |
Community Information
| Address | 312 Hickerson Street 8 |
|---|---|
| Subdivision | ED BALCOMS REV |
| City | Cedar Hill |
| County | Dallas |
| State | TX |
| Zip Code | 75104 |
Amenities
| Utilities | All Weather Road, Cable Available, City Sewer, City Water, Electricity Available |
|---|---|
| Parking Spaces | 8 |
| Garages | Parking Lot |
| Is Waterfront | No |
| Pool On Property | No |
Interior
| Interior Features | Cable TV Available |
|---|---|
| Heating | Central |
| Fireplace | No |
Exterior
| Lot Features | Subdivision |
|---|---|
| Roof | Concrete |
| Construction | Brick |
| Foundation | Slab |
School Information
| District | Cedar Hill ISD |
|---|---|
| Elementary | Highpointe |
| Middle | Besse Coleman |
| High | Cedar Hill |
Additional Information
| Flooring | Vinyl |
|---|---|
| Net Income | $77,000 |
| Building Sqft | 6,786 |
| # Units | 8 |
Listing Details
| Agent | Kellie Fancher |
|---|---|
| Office | RE/MAX Preferred Associates |
| Contact Info | 972-741-8678 |