3627 Almazan Dr Dallas, TX 75220

Property Details for 3627 Almazan Dr

Year built

1962

Property size

24,938 SF

Property type

Commercial real estate

Description

This 46-unit apartment building, The Brioso, presents a compelling value-add investment opportunity in Dallas, Texas. Built in 1962 and significantly renovated in 2023, the property boasts 24,938 square feet and is situated on a 1.78-acre lot in the high-demand Bachman Lake/Love Field corridor. Recent upgrades include premium unit renovations, enhanced landscaping featuring a steel-framed pergola and grilling area, and new signage, all contributing to increased occupancy and value. The property currently enjoys strong occupancy rates, reflecting the area's robust rental market with 93.4% occupancy and 7.2% year-over-year rent growth (Q3 2024) in the Dallas-Northwest submarket. Further value-add potential exists through continued interior unit upgrades, projected to increase rents by $100 to $230 per unit. Unit amenities include modern kitchens with stainless steel appliances, faux hardwood flooring, and walk-in closets. Community amenities include laundry facilities, on-site parking, and a resident courtyard. The property is offered free and clear of existing debt and qualifies for non-recourse agency financing with fixed and hybrid rate options, making it an attractive investment for experienced operators seeking strong returns in a thriving market. The property's prime location offers convenient access to major highways, Dallas Love Field Airport, and premier retail centers, ensuring high tenant demand. Spacious studio, one-bedroom, and two-bedroom floor plans are available. Water and electric utilities are allocated and billed back to tenants. This is a rare opportunity to acquire a stabilized, well-located multifamily asset with significant upside potential.

Location Insight

City

Dallas

County

Dallas

State

Texas

Longitude

-96.8567796

Latitude

32.8646016