Currently 100 Percent Occupied 9.13 Percent Cap Rate (Actual) 16.69 Percent Cash-on-Cash Return (Actual) 39.4 Percent Five-Year Leveraged IRR Less than Half of a Mile to Interstate 45 One Mile to Interstate 30 Two Miles to Cotton Bowl Stadium – Ninth Largest Football Stadium in the United States with 92,100 Seats Two Miles to State Fair Grounds The Holmes Apartments is an eight-unit Class C apartment community located in Dallas, Texas. It is situated in the submarket of Southeast Dallas. Holmes Apartments is conveniently located one mile south of Interstate 30 and less than half of one mile west of Interstate 45. Additionally, Holmes Apartments is one mile from the Dallas Police Department Headquarters and less than one mile from the new Billy Earl Dade Middle School, built in 2013. This middle school, which took $34.6 million to complete, has dramatically enhanced the aesthetics of the neighborhood and increased the safety of local communities through improved police patrolling. Furthermore, Holmes Apartments is two miles from the Texas State Fair Grounds, home of the Cotton Bowl Stadium which is the ninth largest football stadium in the United States with 92,100 seats. Holmes Apartments was built in 1964 and underwent major renovations in 2013. The current owner has invested $115,000 of capital expenditures to update the property. This two-story building consists of eight two-bedroom/one-bath units, each approximately 667 square feet. The owner has transformed a flat roof to a new pitched roof. He has also added new windows to each unit, purchased hot water heaters, and replaced the wooden siding. This listing is brought to you by Scott Ogilvie with Marcus & Millichap. He can be reached at scott.Ogilvie@marcusmillichap.com.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
