4818 Junius Street
Property Description
The Portfolio This portfolio includes three apartment buildings located in Old East Dallas: 4931 Bryan (12 units), 4927 Bryan (8 units), and 4818 Junius (8 units), for a total of 28 units situated within a half-mile radius. The unit mix consists of four studio apartments averaging 450 square feet and 24 one-bedroom units averaging 670 square feet. Interior finishes range from classic to refreshed and premium. Approximately $111K in capital improvements have been completed by current ownership across the portfolio. Upgrades include the installation of individual HVAC condenser units at 4927 Bryan, with two units at 4931 Bryan also equipped with individual condensers; the remaining units at 4931 Bryan operate on window units, while all units at 4818 Junius feature split AC systems. A substantial portion of the plumbing has been replaced, and the properties are primarily equipped with PVC sewer lines. The portfolio is being offered as a single package and will not be sold individually. The Opportunity This portfolio offers a clear value-add opportunity through multiple strategies. All units at 4927 Bryan include in-unit washer/dryers, two units at 4931 Bryan have washer/dryers, and all units at 4818 Junius have washer/dryers. Units with washer/dryers achieve an average $137 monthly rent premium, creating an immediate upside opportunity by adding this amenity to the remaining 10 units. Additionally, 13 of the 28 units have been fully renovated, while 15 units have received light or no updates, providing further potential through targeted interior upgrades. Comparable properties in the submarket have implemented RUBS for water and sewer; introducing a similar utility bill-back program could generate additional revenue up to $8,201. The portfolio has recently stabilized at 90% occupancy, with improving collections, positioning the asset for stronger performance under new ownership. The Debt This Portfolio is being offered free and clear of existing debt. Please contact Ralph Rader ([email protected]) to discuss the most efficient financing execution.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| No. of Units: | 28 |
| Lot Size: | 0.56 Acres |
| Opportunity Zone: | No |
| Property Website | Click Here |
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