1625 Grigsby Ave Dallas, TX 75204-7339
Property Lookup
Property profile & analytics
1625 Grigsby Ave Dallas, TX 75204-7339
- Apartment buildings
- 11,344 SF
- 0.44 lot acres
Property ID
US83-3969535
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Grigsby Avenue Monthly Parking / Storage Facility / Parking Lot & Garage
Property Details for 1625 Grigsby Ave
- Year built
- 1986
- Construction
- FRAME
- Lot size
- 0.44 lot acres
- Property size
- 11,344 SF
- Zone code
- Z239
- Property type
- Apartment buildings
- APN
- 70000010010000
- APU
- 70000010010000
Description
This stabilized Class C multifamily investment property, located at 1625 Grigsby Ave, Dallas, TX 75204, presents a compelling opportunity. The 11,140 square foot building, constructed in 1986, features 20 one-bedroom units spread across two stories, situated on a 19,374 square foot lot. Each unit boasts recent renovations including updated appliances, faux wood flooring, fresh paint, and in-unit washer/dryers. Outdoor patios/balconies and fireplaces are additional amenities. Utilities are separately metered for electricity and master-metered for gas and water. Currently, the property benefits from Section 8 Housing, providing above-market rents and guaranteed payments. Significant value-add potential exists by increasing rents to the maximum allowable Section 8 rates. The property's pro-forma NOI is $314,797. The permitted zoning, PD 595 MF2A, allows for the potential construction of six additional units, further enhancing the long-term investment potential of this cash-flowing asset in the desirable Old East Dallas submarket. This is a rare opportunity to acquire a well-maintained, income-producing property with substantial upside.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- ML approach
- $510,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $677,000
Market price range: $84.9k - $878k -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $515,000 Current use
- OFFICE BUILDING
- $905,000 Change: +75% Conversion: Moderate
- WAREHOUSE, STORAGE
- $760,000 Change: +47% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $665,000 Change: +29% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Dallas
- County
- Dallas
- State
- Texas
- Longitude
- -96.7771
- Latitude
- 32.804
- CBSA code
- 19100
- CBSA name
- DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$65,401
$968,700
$1,881,300
$2,850,000
-
$968,700
$1,881,300
$2,850,000
