2910 Throckmorton StDallas, TX 75219

Property Details for 2910 Throckmorton St

Year built

1966

Construction

FRAME

Lot size

0.74 AC

Property size (Sq ft)

20,544 SF

Zone code

Z239

Property type

Apartment buildings

APN

149176000000

APU

149176000000

Description

This exceptional 27-unit apartment building, located at 2910 Throckmorton St in Dallas, Texas (75219), presents a compelling investment opportunity. Boasting 19,368 square feet, this property offers a strong price per square foot of $227.18 and a price per unit of $162,962.96. Built in 1966 and extensively renovated in 2023, with over $300,000 in capital expenditures since January 2023 and a total of $540,000 since ownership, the property is currently fully occupied and shows significant upside potential. The building benefits from gated covered parking and is situated in Uptown Dallas, the most expensive rental submarket in the Dallas-Fort Worth Metroplex, according to CoStar. This prime location offers immediate access to a robust employment base, with over 110,000 jobs within a 1-mile radius of Dallas' Central Business District. The surrounding area boasts impressive socioeconomic demographics, including an average household income exceeding $115,000 within a 2-mile radius and a median household income over $100,000 within a 3-mile radius. Furthermore, the property is near high-end neighborhoods and retail/dining corridors such as Oak Lawn, West Village, Victory Park, Knox-Henderson, Uptown, and Highland Park. The strong population density (189,225 within a 3-mile radius and a workday population of 414,607) and the median value of owner-occupied housing units ($707,600 within a 3-mile radius) further underscore the desirability and investment potential of this asset. A value-add opportunity exists to achieve top-of-market rents, with a potential increase of over 29% achievable through a $15,000 per unit renovation budget. The property's location within Uptown, projected to see 20+ Class A developments by 2027, ensures enduring rental demand and strong appreciation potential. The asking price is $4,400,000. APN: 00000149176000000.

• CAP approach

  CAP return

  Valuation

  6%

  $3,916,524

  6.5%

  $3,615,253

  7%

  $3,357,021

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,196,486

  Geo Method

  $8,393,069

• Alternative Use

  Use

  Valuation

  Residential

  $3,615,253

  Hospitality

  $3,311,552

  Educational

  $2,755,173

  Medical

  $2,849,927

  Retail

  $4,285,824

Location Insight

City

Dallas

County

Dallas

State

Texas

Latitude

32.8098

Longitude

-96.8122

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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