312 Hickerson Street #8, Cedar Hill, TX 75104 - MLS#21061019

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Rhonda Brown

rhonda.brown@c21bowman.com +1(214) 414-2002

$1,550,000

Est. payment - /mo

14 Beds

8 Baths

0.48 Acres Lot

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UPDATED:

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Ed Balcoms Rev

MLS Listing ID 21061019

Bedrooms 14

Full Baths 8

HOA Y/N None

Total Fin. Sqft 6786

Year Built 1985

Annual Tax Amount $25,800

Lot Size 0.483 Acres

Acres 0.4835

Property Sub-Type Apartment

Property Description

Profitable 8-unit multifamily investment in a close-knit community at 312 Hickerson. Each unit has its own HVAC system, approximately 8 years old. The complex includes four updated 2-bedroom, 2-bath units renting for $1,500-month, two two-bedroom, 2-bath units not updated at $1,100-month, one one-bedroom, one bath not updated at $950-month, and one updated one-bedroom, one bath, at $1,100-month. All units also have their own small fenced backyard.
Five units have been fully renovated in the last 24 months, including stainless steel appliances, flooring, plumbing, and electrical fixtures. Annual rental income is approximately $123,000, with expenses including taxes ($25,800), insurance ($8,569), and management fees ($7,500), leaving a profit before taxes of about $81,131 and a market CAP rate of roughly 5.6%.
Seventy percent of residents have lived in the community eight or more years, demonstrating stability and a well-established tenant base. Minimal ongoing maintenance and recent updates make this property a turn-key investment opportunity. EACH UNIT SQUARE FOOTAGE IS APPROXIMATE AND BASED ON PUBLIC RECORDS; IT HAS NOT BEEN INDEPENDENTLY VERIFIED. BUYER TO DO DUE DILIGENCE.

Location

State TX

County Dallas

Direction From Hwy 67, Going North toward Dallas, take Cooper Street Exit, turn left then turn right on Hardy, then Left on Hickerson. From Hwy 67, Going South from Dallas, take Cooper Street Exit then turn right on Hickerson. Apartment is on the left in the second block.

Interior

Interior Features Cable TV Available

Heating Central

Cooling Central Air, Electric

Flooring Vinyl

Appliance Dishwasher, Disposal, Electric Range, Microwave, Refrigerator

Heat Source Central

Exterior

Utilities Available Cable Available, City Sewer, City Water

Roof Type Concrete

Garage No

Building

Lot Description Subdivision

Story One

Foundation Slab

Level or Stories One

Structure Type Brick

Schools

Elementary Schools Highpointe

Middle Schools Besse Coleman

High Schools Cedar Hill

School District Cedar Hill Isd

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

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North Texas Real Estate Info Systems (NTREIS) -MetroTex and Collin County (CCAR)

Listed by Kellie Fancher • RE/MAX Preferred Associates

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Rhonda Brown

+1(214) 414-2002

Agent | License ID: 0747745

Agent License ID: 0747745

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312 Hickerson Street #8 Cedar Hill, TX 75104

Rhonda Brown

Key Details

Location

Interior

Exterior

Building

Schools

Others

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