FOR SALE - images2.loopnet.comimages2.loopnet.com/.../document.pdf · Featuring studio, one, and two bedroom(s) ... A2 1 BED/1 BATH 18 592 $1,150.00 $1,250.00 ... 2902 Douglas $4,700,000

P E R R Y G U E S T

FOR SALEAPARTMENTS AT M STREETS

1925 MOSER AVENUE | DALLAS, TEXAS 75206 MULTIFAMILY INVESTMENT OFFERING

Grant GuestPrincipal/CEOdirect [email protected]

2517 Thomas AvenueDallas, Texas 75201www.perryguestco.com

Matteo FaethPartnerdirect [email protected]

2017 RANK METRO 2016 RANK

1 LOS ANGELES 1

2 DALLAS/FORT WORTH 3

3 NEW YORK CITY 2

4 WASHINGTON D.C. 8

5 ATLANTA 6

5 SAN FRANCISCO 4

6 SEATTLE 7

7 HOUSTON *

8 TORONTO 5

8 BOSTON 10

8 DENVER 9

9 CHICAGO 11

10 MIAMI/SOUTH FLORIDA 14

* Not top-ranked metro in 2016Source: CBRE Research, CBRE Americas Investor Intentions Survey, 2017

BEST METROS FOR

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P E R R Y G U E S T1925 MOSER AVENUE | DALLAS, TEXAS 75206 MULTIFAMILY INVESTMENT OFFERING

PROPERTY DESCRIPTION

ONE-OF-A-KIND, Apartments at M-Streets represents 100+ units on ±2 acres in the Red-Hot Henderson

corridor. The completely-renovated Apartments at M-Streets was taken down to the studs and rebuilt like

brand-new with a high-end modern touch. Construction began in 2016 and was completed in 2017. Property

was originally built in 1972.

The Property is located at the intersection of Moser and Monarch Avenues, in the immensely popular Knox-

Henderson area that’s known for in-demand restaurants, boutique shopping, with hip nightlife hotspots.

Outside the property gates, walk one block to all the sights and sounds of Henderson Avenue, enjoy super-

quick access to world-class museums in downtown Dallas, fine retail shopping in Uptown, and the music and

art scenes of Deep Ellum and Lower Greenville Avenue.

Featuring studio, one, and two bedroom(s) layouts, residents enjoy all new appliances, in-unit washer/dryer,

designer cabinetry, recessed accent lighting, quartz counters, open floor plans, and patios/balconies.

Community amenities include digital lock/key, controlled entry/access, gated parking, and a common area

with swimming pool.

PROPERTY HIGHTLIGHTS

• Improvements in the amount of ±$56,000 per door have been completed

• All Brand New Appliances

• Washer & Dryer in each unit

• DFW currently averages a 96% Occupancy, a ±70-basis-point (bps) rise in occupancy Year to Date (YTD)

• Construction starts and deliveries experience a decline as absorption nearly increased threefold in Q2 2017

PROPERTY DETAILS

PRICE: $18,495,000

NO. OF UNITS 110

BUILDING SIZE ±67,791 sf

PRICE/UNIT $168,136.36

PROPERTY TYPE Multifamily

PROPERTY USE TYPE Investment

CAP RATE 5.0%

CURRENT OCCUPANCY 100%

NO. STORIES 2

YEAR BUILT 1972

YEAR RENOVATED 2016-2017

LOT SIZE ±107,100 sf

2017 FINANCIAL SUMMARY

ANALYSIS TYPE Proforma

SCHEDULED GROSS INCOME $1,541,790.00

PROFORMA VACANCY (5%) ($79,410.00)

OPERATING EXPENSES ($617,246.90)

NET OPERATING INCOME $924,543.10


LANDLORD RESPONSIBILITIES

WATER & SEWER

TRASH REMOVAL

TENANT RESPONSIBILITIES

ELECTRIC/GAS



STABILIZED PRO FORMA ANNUAL TOTAL ANNUAL % OF GROSS INCOME ANNUAL PER DOOR

INCOME

BASE RENT & OTHER INCOME

Base Rent $1,588,200.00 - $14,438.18

5% Vacancy Factor ($79,410.00) - ($721.91)

TOTAL GROSS INCOME $1,541,790.00 - $14,016.27

OPERATING EXPENSE

ADMINISTRATIVE

Total Administrative/Management ($102,746.90) 6.66% ($934.06)

REPAIR & MAINTENANCE

Total Repair & Maintenance ($60,000.00) 3.89% ($545.45)

UTILITIES

Electric ($10,200.00) 0.66% ($92.73)

Trash Removal ($18,000.00) 1.17% ($163.64)

Water and Sewer ($52,800.00) 3.42% ($480.00)

TOTAL LEGAL, FINANCE & INSURANCE

Total Legal, Finance & Insurance ($48,000.00) 3.11% ($436.36)

TAXES

Total Taxes ($325,500.00) 21.11% ($2,959.09)

TOTAL OPERATING EXPENSE ($617,246.90) 40.03% ($5,611.34)

NET OPERATING INCOME $924,543.10 59.97% $8,404.94











FLOOR PLANS

S1 FLOOR PLAN A1 FLOOR PLAN A2 FLOOR PLAN





FLOOR PLANS

A2 FLOOR PLAN B1 FLOOR PLAN

FLOOR PLAN UNIT TYPE COUNT SF CURRENT RENT AVG. PROFORMA RENT AVG.

S1 STUDIO 18 413 $1,000.00 $1,000.00

A1 1 BED/1 BATH 18 555 $1,100.00 $1,100.00

A2 1 BED/1 BATH 18 592 $1,150.00 $1,250.00

A3 1 BED/1 BATH 37 637 $1,200.00 $1,350.00

B1 2 BED/2 BATH 19 850 $1,550.00 $1,650.00

TOTALS 110 67,791 $132,350.00 $141,600.00





SALES COMPS ADDRESS PRICE PRICE/UNIT UNITS YEAR BUILT SALE DATE CAP RATE

2902 Douglas $4,700,000 $180,000 26 1970 8-21-2017 5% Remodeled

6202 Gaston $2,650,000 $155,000 17 1951 7-11-2016 5% Remodeled

4114 Newton $4,710,000 $131,000 36 1920 9-15-2016 5.5% Remodeled

4928 Live Oak 6,950,000 $131,000 53 1959 12/5/2016 5.5% Remodeled

3901 Hawthorne 1,175,000 $130,555 9 1961 3/15/2016 5% Not Remodeled

5221 Bonita 2,990,000 $130,000 23 1963 4/18/2017 4% Not Remodeled





LEASE COMPS ADDRESS SQUARE FOOTAGE RENT RENT PSF

2806 Reagan 598 $1,250.00 $1.93

4936 Live Oak 575 $1,100.00 $2.08

5616 Ross 400 $1,100.00 $2.75

1925 Moser 590 $1,200.00 $2.03

2902 Douglas 650 $1,300.00 $2.00




1925 MOSER AVENUEDALLAS, TEXAS 75206




Documents

FOR SALE - images2.loopnet.comimages2.loopnet.com/.../document.pdf · Featuring studio, one, and two bedroom(s) ... A2 1 BED/1 BATH 18 592 $1,150.00 $1,250.00 ... 2902 Douglas $4,700,000