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6003 Ridgecrest RdDallas, TX 75231

32-Unit Apartment Building, Prime Dallas Location

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional 32-unit apartment building presents a compelling value-add investment opportunity in a highly desirable Dallas, Texas location. Situated on a 0.74-acre lot at 6003 Ridgecrest Rd, Dallas, TX 75231, this two-story property boasts 23,632 square feet of net rentable space. The property includes one parking space per unit. Recently completed renovations encompass a full exterior repainting, roof replacement, complete window replacement, and brand new mechanical systems. All 32 units feature updated interiors with stainless steel appliances, new Formica countertops, custom cabinetry, brushed nickel fixtures, vinyl flooring, and stackable washer/dryer sets. The property benefits from its proximity to major retail destinations including Northpark Center, The Shops at Park Lane, Preston Hollow Village, and The Hill, as well as prestigious medical facilities like North Central Medical Plaza and Presbyterian Hospital-Dallas. The surrounding area exhibits strong demographics, with a median household income within a three-mile radius exceeding $72,400 and home values above $650,000. The Northeast Dallas submarket has demonstrated robust performance, recording a five-year rent growth of 4.9% and a five-year average occupancy rate of 93.5% (MPF Q4 2023). This newly repositioned asset offers investors significant potential for strong returns in a prime Dallas submarket. The property's convenient location, coupled with its recent renovations and the strength of the surrounding market, makes this a truly unique investment opportunity.

Highlights

  • 32-unit apartment building in desirable Dallas location (6003 Ridgecrest Rd, Dallas, TX 75231).
  • 0.74-acre lot with 23,632 square feet of net rentable space; one parking space per unit.
  • Recently renovated with exterior painting, new roof, windows, and mechanical systems.
  • Updated interiors include stainless steel appliances, new countertops, cabinetry, fixtures, flooring, and stackable washer/dryer sets.
  • Prime location near major retail (Northpark Center, Shops at Park Lane, etc.) and medical facilities.
  • Strong demographics: Median household income over $72,400 and home values over $650,000 within a three-mile radius.

Property Details for 6003 Ridgecrest Rd

Property type
Apartment buildings
Buildings
1
Stories
2
Lot Size (sq. ft)
32,234 SF
Units
32

Location Insight

City
Dallas
County
Dallas
State
Texas
Latitude
32.8703455
Longitude
-96.7587283
6003 Ridgecrest Rd, Dallas, Texas

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6003 Ridgecrest Rd
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