Brioso Apartment

For Sale

3637 Almazan Drive, Dallas, TX 75220

This Dallas property for sale is located at 3637 Almazan Drive. The current listed sale price for Brioso Apartment is Subject To Offer.

Contacts

broker

Gabriel Silverstein, SIOR

SVN | Angelic

(512) 551-8255

Property Details

  • Property Type Multi-Family
  • Property Size 25,938 SF
  • Units 46
  • Property Tenancy Multi-Tenant
  • Year Built 1969
  • Year Renovated 2022
  • Date Updated Dec 17, 2023
Conveniently located nearby Walmart, Target, and Sam's Place. Average Household Income: $120,000 (5 mile radius) Northwest Dallas Submarket shows a 96% Five-Year Average Occupancy Rate (Ranked 2nd in DFW). Median Home Value: $450,000+ DFW Year Over Year Rent Growth: 13.8%SVN | Angelic is pleased to exclusively offer the Brioso Apartments, a value-add 46-unit multifamily property in the DFW MSA with tremendous upside opportunity for new Ownership to capture. The Seller's recently completed, extensive capital improvements include a new central chiller, a parking lot patch + stripe and seal, exterior façade work and complete painting, dry rot and siding repair, new entry doors and windows in every unit, landscaping, lighting, a new courtyard, etc. Current Ownership acquired the Property out of foreclosure and has fixed several key deficiencies and meaningfully upgraded the property. As part of that, they have also renovated several units to new standards which have achieved significant rent increases post renovations. In order to focus on a larger project nearby, Ownership is selling the Brioso Apartments with the ability for a Buyer to capture already proven rent jumps on both legacy and renovated units, with the cost of renovated new units proven, and no heavier lifting base building work remaining. The Sellers remodeled eight (8) of the forty-six (46) units and are in the process of upgrading an additional three (3) units as gut renovations that will combine two smaller units into one larger and easier to lease unit, as well as turn a studio into a new laundry room, leaving the opportunity for new Ownership to perform light renovations on the remainder and achieve significant rent growth without having to perform the “heavy lifting” that is usually required on value-add assets.

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Highlights

  • An extensive amount of CapEx was completed, eliminating the need for the Buyer to do any of the "heavy lifting".
  • The Sellers renovated seven of the units spending approximately $15,000 per door which delivers new ownership extensive upside opportunity to achieve market value rent.

Attachments

Getting around

  • 77/100

    Walk Score ®

  • 35/100

    Transit Score ®

  • 72/100

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Location

  • City Dallas, TX
  • Neighborhood Walnut Hill Estates
  • Zip Code 75220
  • Market Dallas Fort Worth

Points of Interest

  • Bachman

    1.42 miles

  • Burbank

    1.53 miles

  • Walnut Hill/Denton

    2.00 miles

  • Royal Lane

    2.86 miles

  • Inwood/Love Field

    3.22 miles

  • University of Dallas

    3.57 miles

  • Southwestern Medical District/Parkland

    3.76 miles

  • Medical/Market Center

    3.94 miles

  • 600 Las Colinas Boulevard

    4.26 miles

  • Las Colinas Urban Center

    4.49 miles

  • 7-Eleven

    0.24 miles

  • Sam's Club

    0.26 miles

  • Exxon

    0.48 miles

  • Valero

    0.49 miles

  • Fox

    0.52 miles

  • Exxon

    0.74 miles

  • RaceTrac

    1.07 miles

  • 7-Eleven

    1.08 miles

  • Shell

    1.14 miles

  • 7-Eleven

    1.14 miles

  • Valet Parking

    1.55 miles

  • Parking Spot 2

    2.30 miles

  • Chase Bank parking

    2.85 miles

  • Visitor Parking

    2.87 miles

  • Bass Center Faculty/Staff garage

    2.96 miles

  • Staff Parking Lot 16

    3.03 miles

  • Staff Garage 11

    3.06 miles

  • Visitor Parking Garage

    3.11 miles

  • Visitor Garage A

    3.24 miles

  • Staff Lot 8

    3.32 miles

  • Embassy Suites

    0.46 miles

  • Anchor Motel

    1.38 miles

  • BEST WESTERN Northwest Inn

    1.68 miles

  • Motel 6 Dallas Northwest

    1.77 miles

  • Baymont Inn & Suites Dallas Love Field

    1.78 miles

  • Studio 6 Dallas- Tx - Northwest

    1.82 miles

  • Country Inn & Suites By Carlson, Dallas-Love Field (Medical Center)

    1.88 miles

  • SpringHill Suites Dallas NW Highway at Stemmons/I-35E

    1.93 miles

  • MCM Elegante Hotel and Suites

    2.01 miles

  • Holiday Inn Express Hotel & Suites Dallas/Stemmons Fwy(I-35 E)

    2.02 miles

  • La Azteca Meat Market

    0.14 miles

  • Walmart Supercenter

    0.17 miles

  • Target

    0.20 miles

  • Fiesta

    0.42 miles

  • Fiesta Mart

    0.59 miles

  • Central Market - H-E-B

    1.17 miles

  • Harry Hines Baazar

    1.66 miles

  • Tom Thumb 2990

    2.40 miles

  • El Rio Grande

    2.41 miles

  • Trader Joe's

    2.42 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Gabriel Silverstein, SIOR

SVN | Angelic

(512) 551-8255