TX
Dallas
Dallas
75204
1516 Annex Avenue
1516 Annex Avenue, Dallas, TX 75204
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Listing Type
other
Listing Status
Active
28
$6,350,000

Home Details for 1516 Annex Avenue

Price
$6,350,000
Type
Residential Income
Year built
1963
Lot size acres
1.09
County
Dallas
Days on site
90
MLS Listing#
21188054
Property Description

Stabilizing 60 Unit Vaue-Add Asset Opportunity - ~$416K NOI - Strong Upside - Prime East Dallas Location Main Description This is a rare opportunity to acquire a recently stabilized, cash-flowing 60-unit multifamily asset in the highly desirable East Dallas submarket, one of Dallas' strongest rental corridors with continued population and job growth. The property has undergone significant operational improvements, with occupancy now approaching stabilization and current NOI of ~$415,872, providing immediate in-place cash flow with additional upside remaining. Investment Highlights - Strong In-Place Cash Flow - Current NOI: ~$415K - Stabilizing occupancy (~88-90%) - Immediate yield with continued upside - Value-Add Completed or Near Completion - Operational improvements already executed - Reduced execution risk compared to typical value-add deals - Remaining Upside Potential - Rental increases through continued stabilization - Opportunity to further optimize operations - Attractive Basis vs Replacement Cost - Well below new construction pricing - Ideal for long-term investors - Prime East Dallas Location - Minutes from Downtown Dallas - Strong renter demand - Excellent access to employment centers

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Property Features
  • Parking
    • Asphalt
    • Assigned
    • Gated
    • On Site
    • Parking Lot
  • Cooling Information
    • Central Air
    • Electric
  • Heating Information
    • Central
    • Electric
  • Water Features
    • Public
  • House Interior
    • Built-in Features
  • Utilities
    • Electricity Connected
School Information
School Information for 1516 Annex Avenue, Dallas, TX 75204
Elementary School
Chavez
Middle School
Spence
High School
North Dallas
Listing Courtesy: Allie Beth Allman & Assoc. - 214-521-7355
Presented by: John J Canterbury III
Dallas MLS - N.T.R.E.I.S. logoThe data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the NTREIS Multiple Listing Service. Real estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers.
Last Updated: 2026-04-17 05:56:38
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EXIT REALTY ELITE
129 S. Main St, Ste 260, Grapevine, TX 76051
Jerry Hawn
License #: 0706288
Sales Representative
Office
817 925 5503
Agent
817 905 9019
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