511 John Vernon Lane, Euless, Texas 76040

$1,660,000
22
BD
List Price
$1,660,000
MLS#
14559000
Status
ACTIVE
Type
Multifamily
Year Built
1960
Construction Status
Preowned
Bedrooms
22
Full Baths
11
Half Baths
1
Acres
0.218
County
Tarrant
Area
EULESS AREA (121)
City
Euless
Subdivision
Oak Crest Estates
Building Name
Wayne Sfr 7 Portfoli

Property Description

100% occupied cash-flowing portfolio of investment properties that consists of 7 houses all individually deeded with 1 located in Euless and 6 located in Mesquite and within walking distance of schools and parks. Current ownership has spent over $520,000 in recent capital improvements. All the units are well maintained with a mix built in the '50s and0 ’60s and stay full with long-term renters. Each unit is individually metered for electricity and water. The units consist of six 3-bedrooms and one 4-bedroom and average 1,366sf. The houses offer driveways, covered parking on select units, and private fenced back yards. The units rent for $1,543 per mo. on average and tenants pay the utilities individually.

Additional Information

Unexempt Taxes
$3,059
HOA
No HOA
Amenities
Fireplace
Annual Insurance
8602
Gross Annual Expenses
41151
Gross Annual Income
129158
Lot Size
9,496
Acres
0.218
Lot Description
Acreage, Corner, Landscaped, Lrg. Backyard Grass, Some Trees
Subdivided
No
Interior Features
Cable TV Available, Central Vac, High Speed Internet Available
Flooring
Carpet, Other, Vinyl
Foundation
Slab
Roof
Composition
Stories
1
Fireplaces
2
Fireplace Type
Brick
Street Utilities
Asphalt, City Sewer, City Water, Concrete, Curbs, Individual Gas Meter, Individual Water Meter
Heating Cooling
Central Air-Elec, Central Heat-Elec
Exterior
Covered Deck, Covered Porch(es), Gutters
Construction Material
Brick, Wood
Parking Garage
Garage-Attached, Covered
Total Num Parking
14
School District
Hurst-Euless-Bedford Isd
Elementary School
Lakewood
High School
Bell
Proposed Financing
Cash, Conventional, FHA, Other
Building Sq. Ft.
9562
Number of bldgs.
7
Number of units
7
Occupancy Rate
100
Tenancy
Over 9 Months, Pets Allowed, Written Application Only
Possession
30-60 Days, Closing/Funding
Cap Rate
5.3

Mortgage Calculator

Amount of Loan
Annual Interest Rate
%
Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Redwood Realty Inc..