5820 Reiger Ave Dallas, TX 75214-4781

Property Details for 5820 Reiger Ave

Year built

1930

Construction

FRAME

Lot size

0.33 lot acres

Property size

6,022 SF

Zone code

Z239

Property type

Commercial real estate

APN

166603000000

APU

166603000000

Description

This 8-unit apartment building, built in 1930, presents a unique value-add investment opportunity in Dallas, Texas. Located on a 0.33-acre lot at 5820 Reiger Ave, in the 75214 zip code, this two-story, 6,300 square foot building offers a compelling chance to increase profitability. Currently priced at $1,080,000 ($135,000 per unit and $171.43 per square foot), the property boasts a prime location in Old East Dallas, surrounded by desirable neighborhoods like Swiss Avenue, Lakewood, and Peak Suburban. The building's history is rich, having been owned for over two decades by a visionary investor known for successful renovations. The current tenant demographic features a median age of 35.1, a mix of young professionals and adults. The property's walkability is a key asset, with easy access to numerous trails and major grocery stores. This presents a rare chance to acquire a historically significant building in Dallas's urban core, where residential values are exceptionally high. Potential investors can capitalize on opportunities to enhance tenant quality, increase rental income, and even explore options like unit-by-unit condominium conversion. The building's large unit sizes are a significant advantage in this highly sought-after area.