3299 Polk St Dallas, TX 75224-3896
- Apartment buildings
- 45,840 SF
- 2.35 lot acres
Current Use by Public Records
- Landmark Apartments / Apartment Complex / Apartment Building
Property Details for 3299 Polk St
- Year built
- 1961
- Construction
- FRAME
- Lot size
- 2.35 lot acres
- Property size
- 45,840 SF
- Zone code
- Z164
- Property type
- Apartment buildings
- APN
- 491260000000
- APU
- 491260000000
Description
Landmark Apartments, a 60-unit apartment building in Dallas, Texas, presents a compelling investment opportunity. Built in 1961 and recently refreshed with a modern teal and grey exterior paint scheme (2022), this garden-style property boasts 45,400 square feet of net rentable space and a current occupancy rate of 97%. The property comprises five, two-story buildings situated on a 2.35-acre lot, offering ample parking with 94 spaces, including 36 covered spaces generating approximately $1,300 in monthly supplemental income. The infrastructure includes copper wiring and water lines, with a mix of cast iron and PVC sewer lines. Three units have already undergone renovations, featuring vinyl flooring, stainless steel appliances, designer backsplashes, updated kitchens, sleek faucets, and modern lighting and hardware. These upgrades demonstrate a potential for increased rental income, averaging a $45 premium per unit after renovation. The property is conveniently located less than four miles south of the Bishop Arts District, providing easy access to major roadways like I-35, US-67, and Loop 12, and is within a 10-minute drive of Downtown Dallas and the University of North Texas at Dallas. Nearby amenities include gas stations, grocery stores, restaurants, pharmacies, and Kiest Park. The property is offered free and clear of existing debt, presenting a unique chance to acquire a stabilized, cash-flowing asset in a prime Dallas location with significant upside potential through further renovations and market-rate rent adjustments. The property's APN is 00000491260000000 and is zoned MF2A.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $640,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $990,000
Market price range: $424k - $1.28M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $870,000 Current use
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Location Insight
- Map
- Local Demand
- City
- Dallas
- County
- Dallas
- State
- Texas
- Longitude
- -96.8413
- Latitude
- 32.7041
- CBSA code
- 19100
- CBSA name
- DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA
