2014 Caddo St Dallas, TX 75204

Property Details for 2014 Caddo St

Year built

1941

Property size

4,700 SF

Property type

Commercial real estate

APN

00000115717000000

Description

This well-maintained, three-building apartment complex in desirable Old East Dallas presents a compelling investment opportunity. The property, built in 1941 and boasting approximately 4,700 square feet on a 10,625 square foot lot, features four units currently operating at 75% occupancy, with a projected full occupancy date of September 10, 2024. The property includes off-street, gated parking and individual central HVAC systems in each unit. All units have washer/dryer connections and individually metered utilities paid by tenants. Extensive renovations have been completed, including new roofs (circa 2016), new siding on two buildings, updated kitchens and bathrooms, and refinished or new flooring. A duplex was converted into a single unit. The property benefits from its location across from J.W. Ray Park, a 2.5-acre park with various amenities. The MF-2 zoned property is situated in a thriving area with a high average household income ($122,435), average disposable income ($90,457), and median household income ($83,106). The area's median home value is $509,650, and its walk score is 71, reflecting its proximity to employment centers, the Dallas central business district, White Rock Lake, the Dallas Arboretum, and various restaurants and shops. The property's foundations are Pillar/Post/Pier, and the roofs are pitched with composition shingles. While previously operated as short-term rentals, the units are now being leased conventionally. The asking price is $1,300,000.