312 Hickerson Street #8 Active Save Request In-Person Tour Request Virtual Tour
Cedar Hill,TX 75104
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
Year Built 1985
Annual Tax Amount $25,800
Lot Size 0.483 Acres
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.
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
Interior
Heating Central
Cooling Central Air,Electric
Flooring Vinyl
Exterior
Utilities Available Cable Available,City Sewer,City Water
Roof Type Concrete
Building
Lot Description Subdivision
Story One
Foundation Slab
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