Off-market 32 unit multifamily in Dallas, TX

[Darryl Dahlen]

One of my long-term clients is selling their 32-unit multifamily property located in Dallas, TX. I provided the initial loan for this property and one refinance 2 years ago so I know the property well. At this point, the property is truly off-market, but it won't be for long as the realtor is working on the offering memorandum now.

The owner has given me the green light to try and find a buyer so in addition to sharing this with my other clients I thought I'd post it here as well.

Highlights of the property are:

• 100% occupied
• All but 2 units have been renovated
• Many upgrades have been done to the property totaling over $350,000 in CAPEX
• Nice location
• The property should qualify for agency financing (5,7,10 year term with 30 year amortization on a non-recourse loan and 75-80% LTV). I/O and adjustable rates also available
• Still some financial upside as the owners pay utilities, water, and cable

Asking price is $1,900,000. 

2015's NOI is: $101, 446 and annualized 2016's (using YTD financials through Sept) NOI should be: $120,576

I have financials and rent roll for the property as well as property info/photos if anyone is interested. My fee is 1% for either financing the property or as a finders fee if you finance the property yourself. A signed fee agreement will be needed in order to proceed.

Since I know the owners, in an effort to not jeopardize my relationship with them or the realtor whom I also know, I will vet anyone who is interested to ensure you have the experience and financial ability to buy the property. 

PM me if you are interested, agree to my fee, and are willing to disclose your financials and experience.

[Craig J Eiland]

Please send the information on the Dallas property to [email protected]