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Tera Rogers

tera@thecollaborativeagent.com +1(469) 222-6018

$ 499,000

Est. payment | -/mo

6 Beds

5 Baths

2,617 SqFt

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$ 499,000

Est. payment | -/mo

Save Virtual Tour

6 Beds

5 Baths

2,617 SqFt

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 2,617 sqft

Subdivision Broadmoor

MLS Listing ID 21313341

Bedrooms 6

Full Baths 5

HOA Y/N None

Total Fin. Sqft 2617

Year Built 1925

Lot Size 8,842 Sqft

Acres 0.203

Property Sub-Type Apartment

Property Description

This exceptional Dallas multifamily investment opportunity at 2308 Britton Avenue is priced to clear the market at a highly attractive $499,000, breaking the critical sub-$100k price-per-door barrier while delivering powerful, immediate cash flow. The unique property configuration features a main fourplex containing four separate 1-bedroom units , alongside a completely detached 2-bedroom, 1-bathroom single-family house situated at the back of the lot. The entire property benefits from a comprehensive $125,000 renovation in 2023 consisting of new paint, flooring, cosmetics, brand-new mini-splits in Units 1 and 2, and brand-new central HVAC systems in Units 3, 4, and 5. Investor flexibility is maximized as all current leases are strictly month-to-month, and the property is delivered with Unit 1 and Unit 4 completely vacant, allowing a buyer to immediately lease them out at top-of-market rental rates to maximize the building's true yield potential. The current income stream on this asset is remarkably strong, with Unit 2 occupied at $1,200 per month, Unit 3 leased at a steady $1,150 per month, and the detached back house (Unit 5) pulling $1,575 per month. While the property was previously operated as a Airbnb, it has since been transitioned away from short-term rentals, though the underlying infrastructure remains perfectly optimized for a buyer wanting to re-enter that lucrative short-term or mid-term travel nurse housing space. Furthermore, a massive, built-in value-add opportunity exists because the landlord currently covers utility expenses; by simply implementing a Ratio Utility Billing System (RUBS) or passing these metered utility costs back to the month-to-month tenants, an incoming owner can instantly eliminate a major operational expense line item and force the net operating income and cap rate straight upward without spending a single dollar on physical renovations.

Location

State TX

County Dallas

Direction GPS

Interior

Interior Features Decorative Lighting

Heating Central, Electric, Zoned

Cooling Central Air, Electric, Multi Units

Flooring Laminate

Appliance Dishwasher, Dryer, Electric Range, Refrigerator, Washer

Heat Source Central, Electric, Zoned

Exterior

Utilities Available City Sewer, City Water, Co-op Electric

Roof Type Composition

Garage No

Building

Story Two

Foundation Pillar/Post/Pier

Level or Stories Two

Structure Type Siding

Schools

Elementary Schools Miller

Middle Schools Oliver Wendell Holmes

High Schools Roosevelt

School District Dallas Isd

Others

Acceptable Financing 1031 Exchange, Assumable, Cash, Conventional

Listing Terms 1031 Exchange, Assumable, Cash, Conventional

Virtual Tour https://www.propertypanorama.com/instaview/ntreis/21313341

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

Listed by Jett Waters • Real Broker, LLC

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(469) 222-6018

tera@thecollaborativeagent.com

2308 Britton Drive Dallas, TX 75216

Tera Rogers

Key Details

Location

Interior

Exterior

Building

Schools

Others

Nearby Locations

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2308 Britton Drive