Investment properties are a great way to diversify your portfolio and generate passive income. One such property that catches the eye is a charming unit in Dallas that is currently available for sale. This property offers a spacious living area with a fireplace, a covered patio, a large bedroom, and ample closet space. Situated in a highly desirable community, this unit provides potential buyers with an excellent investment opportunity.
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One of the major advantages of this property is its tenant occupancy. Currently, it is rented out at a rate of $780 per month, providing a steady stream of income for the prospective buyer. The lease is in place until June 2023, ensuring a reliable cash flow for the next few years. However, due to tenant occupancy, there are no photos available for this particular unit. Nevertheless, a virtual tour of a similar unit can be provided to interested buyers, allowing them to get a sense of the property’s layout and features.
It is important to note that the Homeowners Association (HOA) is currently undertaking major renovations to the building exteriors and common areas. This is a positive aspect as it indicates that the community is being well-maintained and improved upon, which can potentially increase the property’s value in the long run. Buyers can expect to benefit from these upgrades, ensuring a visually appealing and updated environment for tenants.
However, it is crucial to consider the financing aspect when purchasing this property. The complex is non-warrantable, meaning it may not meet the eligibility requirements for conventional loans. Therefore, buyers intending to finance the purchase should ensure that their lender is comfortable with the complex being fully tenant-occupied. It is advisable to consult with a mortgage professional who specializes in non-warrantable properties to navigate this aspect smoothly.
While financing is an option, a cash sale is preferred for this investment property. Cash buyers can take advantage of the immediate return on investment and avoid potential complications that may arise from financing a non-warrantable property.
In conclusion, this investment property in Dallas offers an excellent opportunity for buyers looking to add to their real estate portfolio. With a tenant already in place, a steady rental income, and major renovations underway, this charming unit within a desirable community is worth considering. Whether you choose to finance or opt for a cash sale, this property promises to be a lucrative investment for the discerning buyer.
This investment property features a spacious living area with a cozy fireplace, perfect for creating a warm and inviting atmosphere. Additionally, the unit boasts a covered patio, providing a peaceful outdoor space to relax and enjoy the fresh air. The bedroom is also spacious, ensuring that tenants have plenty of room to make themselves at home. Moreover, the property offers ample closet space, allowing tenants to store their belongings conveniently.
The community in which this unit is located is undergoing major renovations to its building exteriors and common areas. This means that potential buyers can expect an even more attractive and well-maintained living environment for their tenants. These renovations can significantly enhance the value of the property in the long run.
Currently, the unit is tenant-occupied, generating a steady rental income of $780 per month. The tenant has signed a lease agreement that extends until June 2023, providing the new owner with a stable and predictable rental income stream. However, due to tenant occupancy, no photos of the unit are available. Instead, a virtual tour of a similar unit is provided to allow potential buyers to visualize the property’s interior.
It is important to note that the complex in which the unit is located is non-warrantable. This means that it may not meet the requirements set by traditional lenders for financing. Therefore, buyers interested in this investment property should ensure their lender is comfortable with the complex being all tenant-occupied. However, a cash sale is preferred for this property, eliminating the need for financing complications.
Investing in properties for sale in Dallas can be a smart financial move, considering the city’s robust real estate market. This investment property, with its charming features and favorable location within a desirable community, offers an opportunity to generate a steady rental income. With ongoing renovations to the complex, the property’s value is likely to increase over time.
If you are a savvy investor seeking an investment property in Dallas, this unit is worth considering. Its attractive features, stable rental income, and potential for long-term value appreciation make it a promising investment opportunity. Don’t miss the chance to own this desirable property and secure your financial future.
9696 Walnut Street, Dallas, TX 75243