Vacant 16-Unit Townhome
2303 Spencer Court Dallas, TX 75208
2303 Spencer Court, Dallas, TX, 75208
$4,695,000
For Sale
$4,695,000
MULTI_FAMILY - Dallas, TX
Property Size26,178 SF
Lot Size1.00 Acre
Price / SF$179.35
Days on Market32
Property Features for 2303 Spencer Court
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 18
- Bathrooms
- 32
- Rooms
- Bedroom 16, Bathroom 17, Bedroom 2, Bedroom 9, Bedroom 6, Bathroom 11, Bathroom 13, Bedroom 7, Bedroom 8, Bathroom 8, Bathroom 30, Bedroom 10, Bedroom 1, Bedroom 13, Bathroom 24, Bathroom 28, Bathroom 29, Bathroom 31, Bathroom 25, Bathroom 15, Bedroom 4, Bathroom 9, Bedroom 3, Bedroom 5, Bathroom 4, Bathroom 7, Bedroom 15, Bathroom 6, Bathroom 5, Bathroom 32, Bathroom 16, Bathroom 19, Bathroom 3, Bathroom 14, Bathroom 22, Bedroom 12, Bedroom 11, Bedroom 17, Bathroom 1, Bedroom 14, Bathroom 18, Bathroom 21, Bathroom 20, Bathroom 2, Bathroom 12, Bathroom 26, Bedroom 18, Bathroom 23, Bathroom 27, Bathroom 10
- Parking
- 30
- Parking features
- Assigned
- Interior features
- EatInKitchen, HighSpeedInternet, CableTv
- Appliances
- Dryer, Dishwasher, ElectricCooktop, ElectricOven, ElectricWaterHeater, Disposal
- Standard status
- Active
- APN
- 004004000A0090000
- Size
- 26,178 SF
- Lot size
- 1.00 Acre
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2020
- Floors in Building
- 3
- Number of units
- 16
- Flooring type
- Tile, Concrete, Vinyl
- Building materials
- BoardAndBattenSiding, Concrete, WoodSiding
- Roof type
- Flat
Listing Agency
CMS Strategic Partners, LLC
(214) 874-0902
Dallas, TX
Listed by
Richard Scheurer
(214) 558-7199
Added: Jun 16 Checked: Jul 17 at 8:06 am
MLS# 21292265
Listing URL
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
707 Commerce Townhomes is a fully vacant 16-unit townhome community being renovated under a comprehensive program. The property provides a built-out townhouse layout in a single community setting, with the opportunity to reposition the asset as a multifamily rental property or sell units individually as fee-simple townhome interests. The seller notes that pictures do not reflect current condition, and the renovation program is intended to modernize systems and upgrade amenities throughout the community.
The property is located at 2303 Spencer Court in Dallas, Texas (75208), on approximately 1 acre. At 26,178 square feet, the community offers an established unit count and configuration that can support an operator’s or ownership group’s phased planning approach during and after renovation.
With complete vacancy in place, buyers have immediate operational control to determine the path forward, whether that involves lease-up as a multifamily rental asset, a phased strategy for unit-by-unit sales, or another redevelopment approach. This combination of full vacancy and an underway renovation program may appeal to investors and developers seeking flexibility in execution while managing the transition from current conditions to renovated finishes and updated amenities.
The property is located at 2303 Spencer Court in Dallas, Texas (75208), on approximately 1 acre. At 26,178 square feet, the community offers an established unit count and configuration that can support an operator’s or ownership group’s phased planning approach during and after renovation.
With complete vacancy in place, buyers have immediate operational control to determine the path forward, whether that involves lease-up as a multifamily rental asset, a phased strategy for unit-by-unit sales, or another redevelopment approach. This combination of full vacancy and an underway renovation program may appeal to investors and developers seeking flexibility in execution while managing the transition from current conditions to renovated finishes and updated amenities.
Key Highlights
- 707 Commerce Townhomes: fully vacant 16‑unit townhome community
- Renovation program is currently underway; pictures do not represent current condition
- Built in 2020 with central heating and central air conditioning
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $810.5k | $30.96 |
| − Vacancy | −$86.7k | −$3.31 |
| EGI | $723.8k | $27.65 |
| − OpEx | −$325.7k | −$12.44 |
| NOI | $398.1k | $15.21 |
26,178 SF · lease $30.96/SF/yr · vacancy 10.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$5.69M
$4.98M – $6.63M
NOI $398,063 @ 7.0% cap · market cap 8.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$31.41M
$27.49M – $36.65M
NOI $2,198,801 @ 7.0% cap · market cap 46.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Fully vacant 16-unit townhome community undergoing comprehensive renovation in Dallas, offering flexible ownership and repositioning options.
Where is this apartment building located?
The property is located at 2303 Spencer Court Dallas, TX.
What is the asking price?
The asking price for this property is $4,695,000.
What are key features of this property?
This property features: 707 Commerce Townhomes: fully vacant 16‑unit townhome community; Renovation program is currently underway; pictures do not represent current condition; Built in 2020 with central heating and central air conditioning
