4-Unit Renovated
2232 Riverview Dr, Irving, TX 75060
For Sale
$755,000
Four residences feature central heating and cooling, updated interiors, and modern kitchen appliances.
Property Size3,248 SF
Price / SF$232.45
Days on Market91
Property Features for 2232 Riverview Dr
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Multifamily Units
Building Details
Year Built
Listing Agency:
Abacus Realty Group, LLC
Listed By:
Kayed Sinnukrot · License #0596143
(972) 800-8374
Source:
Findtexashomesforsale
Added: Aug 11
Changed: Nov 1
Last Checked: Nov 8 at 7:02AM
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 Abacus Realty Group, LLC
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Investment Insights
Based on property information with market context.
This 3,248-square-foot quadplex contains four residential units and was built in 1955. A comprehensive renovation replaced the former window units with central air conditioning and heating, and included a new roof, electrical and plumbing updates, and new water heaters. Interiors have wood-look laminate flooring, refreshed bathrooms, and ceiling fans. Each kitchen includes a refrigerator, stove-oven, and built-in microwave.
The property is currently 50% occupied, with applications being processed for the two remaining units.
The property is currently 50% occupied, with applications being processed for the two remaining units.
Key Highlights
- Four residential units in a 3,248‑square‑foot building
- Built in 1955
- Central AC and heating replaced the former window units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,111
Cap Rate
7.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,142,220
$1.1M
Cap Rate 7%
$815,871
$815.9K
Cap Rate 9%
$634,567
$634.6K
Market Conditions
NOI Build-Up for 3,248 SF
Gross rent
$90.8K $27.96/SF
− Vacancy
−$9.2K −$2.84/SF
EGI
$81.6K $25.12/SF
− OpEx
−$24.5K −$7.54/SF
NOI
$57.1K $17.58/SF
Area
Irving, TX
Vacancy
10.16%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,142,220
Cap Rate 7%
$815,871
Cap Rate 9%
$634,567
Alternative Uses
Best Use
Multifamily LT 5
$815.9K
$713.9K – $951.9K
NOI $57,111 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$705.6K
$617.4K – $823.2K
NOI $49,389 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$833.0K
$728.9K – $971.8K
NOI $58,308 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
281
Businesses Nearby
Explore this area
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
$224,100
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Dallas County, TX
Properties on Market for Quadplexes in Dallas County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residences feature central heating and cooling, updated interiors, and modern kitchen appliances.
Where is this quadplex located?
The property is located at 2232 Riverview Dr Irving, TX.
What is the asking price?
The asking price for this property is $755,000.
What are key features of this property?
This property features: Four residential units in a 3,248‑square‑foot building; Built in 1955; Central AC and heating replaced the former window units
