Landmark Apartments | 3299 S Polk St
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Landmark Apartments 3299 S Polk St
60 Unit Block of Flats For Sale Dallas, TX 75224
Investment Highlights
- Landmark Apartments presents an opportunity for buyers to purchase a stabilized, cash-flowing asset
- Landmark Apartments is a 60-unit garden-style product originally constructed in 1961 and recently repainted in 2022
- The property is being offered free-and-clear of existing debt
- With three units renovated so far, new ownership can focus on further renovations and capitalizing on rent increases to align with market rates
- The property has ample parking with a total of 94 total parking spaces, including 36 covered spaces, generating an income $1,300 a month.
Executive Summary
Landmark Apartments presents an opportunity for buyers to purchase a stabilized, cash-flowing asset situated in one of the nation’s top
real estate investment hubs. With three units renovated so far, new ownership can focus on further renovations and capitalizing on rent
increases to align with market rates, ensuring sustained cash flow growth throughout the holding period. Recent upgrades to unit interiors
boast vinyl flooring, stainless steel appliances, designer backsplashes, fully equipped kitchens, sleek gooseneck faucets, and updated lighting and hardware, showcasing a modern aesthetic. Extending these renovations to all units, new ownership can implement cost-effective upgrades while capitalizing on a $45 premium on average upon leasing at market rates post-renovation.
real estate investment hubs. With three units renovated so far, new ownership can focus on further renovations and capitalizing on rent
increases to align with market rates, ensuring sustained cash flow growth throughout the holding period. Recent upgrades to unit interiors
boast vinyl flooring, stainless steel appliances, designer backsplashes, fully equipped kitchens, sleek gooseneck faucets, and updated lighting and hardware, showcasing a modern aesthetic. Extending these renovations to all units, new ownership can implement cost-effective upgrades while capitalizing on a $45 premium on average upon leasing at market rates post-renovation.
Property Facts
| Sale Type | Investment | Lot Size | 2.35 AC |
| No. Units | 60 | Building Size | 45,400 SF |
| Property Type | Residential | Average Occupancy | 83% |
| Property Subtype | Apartment | Number of Floors | 2 |
| Apartment Style | Low Rise | Year Built | 1961 |
| Building Class | C | Parking Ratio | 1.34/1,000 SF |
| Sale Type | Investment |
| No. Units | 60 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 2.35 AC |
| Building Size | 45,400 SF |
| Average Occupancy | 83% |
| Number of Floors | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.34/1,000 SF |
Unit Amenities
- Air Conditioning
- Tile Floors
- Kitchen
- Tub/Shower
- Walk-In Closets
Site Amenities
- Courtyard
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 33 | - | 520 - 660 |
| 2+1 | 27 | - | 880 |
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PROPERTY TAXES
| Parcel Number | 00000491260000000 | Improvements Assessment | £3,043,094 |
| Land Assessment | £242,381 | Total Assessment | £3,285,475 |
PROPERTY TAXES
Parcel Number
00000491260000000
Land Assessment
£242,381
Improvements Assessment
£3,043,094
Total Assessment
£3,285,475
zoning
| Zoning Code | MF2A (Multi-family) |
| MF2A (Multi-family) |
-
Hugo Reisenbichler -
Douglass Banerjee -
Sterling Warren -
Andrew Mueller -
Greysteel
(817) 406-3260
x413
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Landmark Apartments | 3299 S Polk St
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