10-Unit Apartment
1516 W 7th Street, Irving, TX 75060
For Sale
New
$1,900,000
Four residential buildings and a separate storage structure provide a multi-building rental configuration.
Property Size10,088 SF
Price / SF$169.64
Days on Market2
Property Features for 1516 W 7th Street
General Information
Standard status
Size
Property subtype
Zoning
Additional Details
Cap Rate
Multifamily Units
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
24fifteen Realty
Listed By:
Diane Carpenter · License #0789408
(469) 364-2338
Source:
Signaturere
Added: Nov 7
Last Checked: Nov 8 at 5:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of 24fifteen Realty
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Investment Insights
Based on property information with market context.
This 10-unit apartment property comprises four residential buildings plus a separate storage building. The unit mix includes one-, two-, and three-bedroom options, and the property was built in 1972. The site measures 0.8840 acres and includes a slab foundation.
Located in Irving, the property sits between Dallas and Fort Worth. The source identifies the surrounding area as having a substantial renter population and describes the asset as part of a rental corridor.
Located in Irving, the property sits between Dallas and Fort Worth. The source identifies the surrounding area as having a substantial renter population and describes the asset as part of a rental corridor.
Key Highlights
- 10 apartments across four residential buildings
- Unit mix includes 1-, 2-, and 3‑bedroom options
- Separate storage building on a 0.8840‑acre site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$170,307
Cap Rate
8.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,406,140
$3.4M
Cap Rate 7%
$2,432,957
$2.4M
Cap Rate 9%
$1,892,300
$1.9M
Market Conditions
NOI Build-Up for 11,200 SF
Gross rent
$346.8K $30.96/SF
− Vacancy
−$37.1K −$3.31/SF
EGI
$309.6K $27.65/SF
− OpEx
−$139.3K −$12.44/SF
NOI
$170.3K $15.21/SF
Area
Irving, TX
Vacancy
10.70%
Lease Rate
$30.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,406,140
Cap Rate 7%
$2,432,957
Cap Rate 9%
$1,892,300
Alternative Uses
Best Use
Apartment 5plus
$2.43M
$2.13M – $2.84M
NOI $170,307 @ 7.0% cap · market cap 8.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.87M
$2.51M – $3.35M
NOI $201,062 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
567
Businesses Nearby
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Business Placement
Demographics for 75060, TX
47,955
Population
15,538
Households
3.1
Avg Household Size
34
Median Age
18%
College-Educated
64%
High-School Grad
12.1 sq mi
ZIP Area
3,963
Density / Sq Mi
$69,708
Median Household Income
$35,508
Median Earnings
$1,367
Median Rent
$224,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Dallas County, TX
Properties on Market for Apartment buildings in Dallas County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Four residential buildings and a separate storage structure provide a multi-building rental configuration.
Where is this apartment building located?
The property is located at 1516 W 7th Street Irving, TX.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 10 apartments across four residential buildings; Unit mix includes 1-, 2-, and 3‑bedroom options; Separate storage building on a 0.8840‑acre site
