Listing provided courtesy of 24fifteen Realty- MLS# 21231711MLS ProviderContact Information: Diane Carpenter - 972-942-0222

1516 W 7th StreetIrving, TX 75060

Multi-Family · 20 Beds · 10 Full Baths · 2 Half Baths · 10,088 Sq. ft. | 0.88 Acres
$1,850,000 Active Under Contract

1516 W 7th Street Overview

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This multifamily property presents a compelling opportunity for investors seeking value-add potential in the Dallas-Fort Worth market. Serious Portfolio Value Add! this asset offers the ability to increase income through strategic improvements and rental adjustments. The property features multiple units with functional layouts and a location positioned within a strong rental corridor. Current operations provide a foundation for increased net operating income, with market data supporting higher rental rates in the area. 10 units, 1,2, and 3 bedroom choices. 4 buildings for tenants and an extra building for storage! So much potential in one property in a high renter populated city. This is truly a special income property. Investors will appreciate the opportunity to enhance cash flow through: Rental rate optimization based on local comparables Interior and exterior updates Operational efficiencies This opportunity may be suitable for investors looking to expand or diversify a real estate portfolio within a high-demand region. Additional financials, rent roll, and property details available upon request. With its prime Irving location, strong tenant appeal, conveniently located between Dallas and Ft. Worth. With a solid 13.5 NOI, and a 4.9% cap rate, this property represents both stability and opportunity for investors.

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1516 W 7th Street Facts & Features

  • Type Multi-Family
  • Sq. ft. 10,088
  • Price/Sq.ft. $183
  • Lot 0.88 Acres

Details

General

Association/HOA

  • Association: No

School Information

  • School District: Irving ISD
  • Elementary School: Haleyj
  • Middle Or Junior School: Bowie
  • High School: Nimitz

Income/Expenses

  • Gross Income: 159660.0
  • Insurance Expense: 6018.0
  • Net Operating Income: 94015.0

Building Information

  • Year Built: 1972
  • Year Built Details: Preowned

Location/Region

  • Country: US
  • County Or Parish: Dallas
  • Postal City: IRVING
  • Subdivision Name: Irving Park Acres

Tax Information

  • Tax Annual Amount: 37106.0

General Information

  • Listing Terms: Cash,Conventional
  • Parcel Number: 32221500000470100
  • Property Type: Residential Income

Interior

Parking Information

  • Garage: Yes

Beds/Baths

  • Bathrooms Full: 10
  • Bathrooms Half: 2
  • Bathrooms Total: 12
  • Bedrooms Total: 20

Building Interior

  • Building Area Source: Assessor
  • Building Area Total: 10088.0

General Information

  • Appliances: Dishwasher,Disposal,Vented Exhaust Fan
  • Fireplace: No
  • Fireplaces Total: 0
  • Flooring: Other
  • Foundation Details: Slab
  • Interior Features: Built-in Features,Decorative/Designer Lighting Fixtures,Cable TV
  • Levels: Two
  • Security Features: Smoke Detector(s)
  • Stories: 2

Exterior

Parking Information

  • Parking Features: Additional Parking,Garage,Other

Lot Information

  • Lot Size Acres: 0.884
  • Lot Size Area: 0.884
  • Lot Size Square Feet: 38507.04
  • Lot Size Units: Acres
  • Number Of Buildings: 5
  • Water Source: Public

Waterfront/View

  • Waterfront: No

Building Exterior/Construction

  • Construction Materials: Brick
  • Roof: Asphalt

General Information

  • Number Of Units Total: 10
  • Pool Features: None
  • Sewer: Public Sewer
  • Utilities: Sewer Available,Water Available,Cable Available

Unit Information

Unit 6 Details

  • Unit Type: 1 Bedroom
  • Units Total: 2

Unit 7 Details

  • Unit Type: 1 Bedroom
  • Units Total: 2

Unit 4 Details

  • Unit Type: 2 Bedroom
  • Units Total: 1

Unit 5 Details

  • Unit Type: 2 Bedroom
  • Units Total: 1

Unit 1 Details

  • Unit Type: 3 Bedroom
  • Units Total: 2

Unit 2 Details

  • Unit Type: 3 Bedroom
  • Units Total: 1

Unit 3 Details

  • Unit Type: 3 Bedroom
  • Units Total: 1

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

1516 W 7th Street Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

1516 W 7th Street Market Data

Based on the last 30 days in this zip code

$388,014
Average List Price
$199
Average Price per Square Foot
14
Properties Sold
64
Average Days on Market
82
Properties for Sale
Calculations provided by Reliance Network


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