About 1501 Cedar Elm Drive
100% occupied an Exceptional Investment Opportunity in a Prime Location in Euless. Embark on a rewarding investment journey with this meticulously maintained property showcasing ten rental units, each thoughtfully designed with attached garages and abundant parking space. Set on an additional 0.13 acres to add an additional 8 units, this property enjoys a strategic position in the Mid-Cities region, providing effortless access to the entire DFW Metroplex and a quick 15-minute drive to the DFW International Airport. Most units have been tastefully remodeled, boasting fresh paint, new fixtures, modern appliances, contemporary lighting features such as can lights and fans, luxurious wood-look vinyl flooring, and elegant quartz countertops in kitchens and bathrooms. All units have a refrigerator, washer, and dryer for added convenience. To seize this opportunity, kindly submit offers or Letters of Intent (LOI) along with proof of funds via email.
Features of 1501 Cedar Elm Drive
| MLS® # | 20592668 |
|---|---|
| Price | $3,200,000 |
| Units | 10 |
| Building Area Total | 10,200 |
| Acres | 0.67 |
| Year Built | 1995 |
| Type | Residential Income |
| Sub-Type | Multi Family |
| Status | Active |
Community Information
| Address | 1501 Cedar Elm Drive |
|---|---|
| Subdivision | Monarch Condos |
| City | Euless |
| County | Tarrant |
| State | TX |
| Zip Code | 76039 |
Amenities
| Utilities | All Weather Road, Cable Available, City Sewer, City Water, Electricity Available, Individual Water Meter, Sewer Available, Sidewalk, Underground Utilities |
|---|---|
| Parking Spaces | 10 |
| Garages | 2-Car Single Doors, Garage, Garage Door Opener |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior Features | High Speed Internet Available, Open Floorplan, Pantry |
|---|---|
| Heating | Central, Electric |
| Fireplace | No |
Exterior
| Exterior Features | Barbecue |
|---|---|
| Lot Description | Interior Lot, Irregular Lot |
| Roof | Shingle |
| Construction | Brick |
| Foundation | Slab |
School Information
| District | Hurst-Euless-Bedford ISD |
|---|---|
| Elementary | Lakewood |
| High | Trinity |
Additional Information
| Net Operation Income | $130,160 |
|---|---|
| Gross Annual Income | $188,640 |
| Gross Annual Expenses | $58,480 |
| Insurance Expense | $9,880 |
| CapitalizationRate | 4.07 |
Unit 1 Details
| Type | 1 Bedroom |
|---|---|
| Full Baths | 1 |
| Rent | $1,400 |
| SqFt | 937 |
Unit 2 Details
| Type | 1 Bedroom |
|---|---|
| Full Baths | 1 |
| Rent | $1,500 |
| SqFt | 937 |
Unit 3 Details
| Type | 1 Bedroom |
|---|---|
| Full Baths | 1 |
| Rent | $1,425 |
| SqFt | 937 |
Unit 4 Details
| Type | 1 Bedroom |
|---|---|
| Full Baths | 1 |
| Rent | $1,320 |
| SqFt | 937 |
Unit 5 Details
| Type | 2 Bedroom |
|---|---|
| Full Baths | 2 |
| Rent | $1,700 |
| SqFt | 1,086 |
Unit 6 Details
| Type | 2 Bedroom |
|---|---|
| Full Baths | 2 |
| Rent | $1,600 |
| SqFt | 1,086 |
Unit 7 Details
| Type | 2 Bedroom |
|---|---|
| Full Baths | 2 |
| Rent | $1,625 |
| SqFt | 1,086 |
Unit 8 Details
| Type | 2 Bedroom |
|---|---|
| Full Baths | 2 |
| Rent | $1,650 |
| SqFt | 1,086 |
Unit 9 Details
| Type | 2 Bedroom |
|---|---|
| Full Baths | 2 |
| Rent | $1,650 |
| SqFt | 1,086 |
Unit 10 Details
| Type | 3 Bedroom |
|---|---|
| Full Baths | 2 |
| Rent | $1,850 |
| SqFt | 1,171 |
Listing Details
| Agent | Lalit Thakkar |
|---|---|
| Office | Fathom Realty |