1625 Grigsby Avenue, Dallas

$2,770,000

0 Beds
0 Baths
.45 Acres
0 Garages

Waller Group Properties is proud to present this 20-unit multifamily complex built in 1986. Located in the heart of East Dallas, Grigsby Place is an attractive, well-maintained complex with all one-bedroom units. 70% of the rental revenue is Section 8 income. The property is currently operating at an NOI of $166,218 at a 6.00% cap rate on actuals. Pro Forma NOI is $195,757 at a 7.07% Pro Forma cap rate. This is a partially renovated value add opportunity where 15 units have been renovated to include new cabinets, counters, plumbing and appliances within the last 8 years. For more information, please review the OM and financials that are in the documents tab, and on our website.

Essential Information
MLS® #14378647
Price$2,770,000
Bathrooms0.00
Acres0.45
Year Built1986
TypeMulti-Family
Sub-TypeApartment / 5-Plex+
StatusActive
Community Information
Address1625 Grigsby Avenue
AreaDALLAS EAST (12)
SubdivisionDuncan Ward & Morgans Add
CityDallas
CountyDallas
StateTX
Zip Code75204-7339
Amenities
Parking Spaces25
GaragesAssigned Spaces
Utilities

City Sewer, City Water, Concrete, Curbs, Overhead Utilities, Sidewalk

Interior
Interior FeaturesOther
FireplaceYes
# of Fireplaces1
FireplacesGas Logs, Wood Burning
# of Stories2
Stories2
Appliances

Built-in Microwave, Dishwasher, Dryer, Drop-In Range/Oven-Elec, Refrigerator, Vent Mechanism, Washer

Heating

Central Air-Elec, Central Heat-Elec

Exterior
Exterior FeaturesBalcony
RoofComposition
ConstructionStucco, Wood
FoundationSlab
School Information
DistrictDallas ISD
ElementaryRay
MiddleSpence
HighNorth Dallas
Listing Details
AgentLogan Waller
OfficeWaller Group LLC
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Listing information last updated on November 25th, 2020 at 4:30pm CST.