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Lake Cliff Triplex Investment Opportunity

503 East 6th Street Dallas, TX 75203

Claim this Listing
For Sale
$584,900

Triplex in prime location near Bishop Arts and downtown Dallas.

Type:Multi-Family / Triplex
Property size:
2,785 SF
Price / SF:
$210.02/SF
Added:
May 6, 2026
Days on Market:
70
Last Refresh:
Jul 4 at 1:24 pm

Property Features for 503 East 6th Street

General Information

Standard status
Active
Size
2,785 SF
Property subtype
Multi-Family / Triplex

Building Details

Year Built
1921

Listing office Monument Realty

Listing date May 6, 2026

Source Compass

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 Monument Realty


Investment Insights

Based on property information with market context.

This triplex is located in the Lake Cliff area of Dallas. The property offers three units with layouts suitable for renting, multi-generational living, or a live-in-one-unit-and-rent-out-the-rest arrangement. Unit 501 features a 1-bedroom, 1-bath layout with 776 sq. ft., including a large living room, eat-in kitchen, and walk-in closet. Unit 503 offers 1,110 sq. ft. with 3 bedrooms, 1 bath, an expansive living area, and generous kitchen and dining spaces. Unit 505 includes 2 bedrooms, 1 bath, and 899 sq. ft. featuring a spacious eat-in kitchen and comfortable living room. The property is located near downtown Dallas, within walking distance of Bishop Arts, shopping, dining, major highways and public transportation. The property has a total size of 2785 sq. ft.

Key Highlights

  • Triplex in prime Lake Cliff location, near downtown Dallas and Bishop Arts.
  • Excellent investment opportunity with income potential from three separate units.
  • Flexible layouts suitable for renting, multigenerational living, or owner‑occupancy.

Local Financial Insights For Multifamily LT 5

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 $77.9k $27.96
− Vacancy −$7.9k −$2.84
EGI $70.0k $25.12
− OpEx −$21.0k −$7.54
NOI $49.0k $17.58
2,785 SF · lease $27.96/SF/yr · vacancy 10.16% · expense 30.00%

Alternative Uses

Best Use
Multifamily LT 5
$699.6K
$612.1K – $816.2K (±1% cap)
NOI $48,970 @ 7.0% cap · market cap 8.37%
Second Best
Apartment 5plus
$605.0K
$529.4K – $705.8K (±1% cap)
NOI $42,349 @ 7.0% cap · market cap 7.24%
Theoretical Best
Office A
$3.34M
$2.92M – $3.90M (±1% cap)
NOI $233,924 @ 7.0% cap · market cap 39.99%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Triplexes

Suggested Use

Electrical Service (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Storage Facility Home Appliance Store HVAC Service Pet Grooming Service Nursing Home Tech Support Center Nursing Home

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Triplex - Triplex in prime location near Bishop Arts and downtown Dallas.
Where is this triplex located?
The property is located at 503 East 6th Street Dallas, TX.
What is the asking price?
The asking price for this property is $584,900.
What are key features of this property?
This property features: Triplex in prime Lake Cliff location, near downtown Dallas and Bishop Arts.; Excellent investment opportunity with income potential from three separate units.; Flexible layouts suitable for renting, multigenerational living, or owner‑occupancy.
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