Investment properties are a popular choice for individuals looking to diversify their portfolio and generate passive income. Among the various options available in the market, the investment properties for sale in Dallas offer an attractive opportunity for potential investors. One such property that stands out is a charming unit located within a highly desirable community.
This particular unit boasts a spacious living area, complete with a cozy fireplace, creating a warm and inviting atmosphere for residents. Additionally, a covered patio allows for outdoor relaxation and enjoyment. The unit also features a generously-sized bedroom, ensuring comfort and privacy for its occupants. Furthermore, ample closet space provides practical storage solutions, adding to the overall convenience of the property.
Prospective buyers should note that the Homeowners Association (HOA) is currently undertaking major renovations to the building exteriors and common areas. This initiative not only enhances the aesthetic appeal of the property but also ensures that it remains well-maintained, attracting potential tenants and preserving its long-term value.
One significant aspect of this investment opportunity is the existing tenant occupancy. The unit is currently rented out at a rate of $780 per month, with the lease extending until June 2023. This steady rental income provides immediate returns for investors, making it an attractive feature of this property.
Unfortunately, due to tenant occupancy, no photos are available for viewing. However, interested buyers can access a virtual tour of a similar unit, allowing them to get a sense of the property’s layout and potential.
It is important to note that, if financing is required for the purchase, buyers must ensure that their lender approves of the complex being entirely tenant-occupied. The complex itself is considered non-warrantable, meaning it does not meet the requirements set by Fannie Mae or Freddie Mac for conventional loans. As such, a cash sale is preferred for this investment opportunity.
Investment properties for sale in Dallas provide a promising avenue for individuals seeking to expand their investment portfolio and generate passive income. This particular unit offers a charming living space, excellent rental potential, and the added benefit of ongoing renovations within the community. While a cash sale is preferred due to the complex’s non-warrantable status, the strong rental income and desirable location make this investment opportunity one worth considering.