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The Newport 4950 Live Oak St 41 Unit Apartment Building For Sale Dallas, TX 75206
Investment Highlights
- Assumable Fannie Mae loan with an outstanding balance of approximately $3.6 million, a 4.08% fixed interest rate, and a September 2031 maturity.
- The Property underwent an extensive renovation program beginning in 2016, with more than $900,000 invested in capital improvements
- Unit interiors offer functional floor plans with significant value-add potential through targeted interior renovation
Executive Summary
• Assumable Fannie Mae Loan: The Newport is offered with an assumable Fannie Mae loan with an outstanding balance of approximately $3.6 million, a 4.08% fixed interest rate, and a September 2031 maturity. The Newport provides investors with an opportunity to benefit from an era of low interest rates, and a strong yielding asset following stabilization. Additional loan details are available in the data room.
• Basis Reset: The Property is being offered at near ~95% LTV. The primary equity contributions towards this deal will be CapEx and closings costs.
• Significant Upside: The Property offers a clear path to approximately $304K stabilized NOI in year 2, through occupancy recovery, expense normalization, and strategic capital improvements, creating a compelling value-add opportunity for investors to generate attractive risk-adjusted returns without relying on submarket tailwinds.
• Irreplaceable Location: Situated at the highly visible corner of Live Oak Street and Collett Avenue, The Newport benefits from one of Old East Dallas' most established and rapidly evolving neighborhoods. Continued public and private investment, declining new apartment deliveries, and improving absorption fundamentals position the asset to benefit from long-term appreciation following a successful stabilization.
• Basis Reset: The Property is being offered at near ~95% LTV. The primary equity contributions towards this deal will be CapEx and closings costs.
• Significant Upside: The Property offers a clear path to approximately $304K stabilized NOI in year 2, through occupancy recovery, expense normalization, and strategic capital improvements, creating a compelling value-add opportunity for investors to generate attractive risk-adjusted returns without relying on submarket tailwinds.
• Irreplaceable Location: Situated at the highly visible corner of Live Oak Street and Collett Avenue, The Newport benefits from one of Old East Dallas' most established and rapidly evolving neighborhoods. Continued public and private investment, declining new apartment deliveries, and improving absorption fundamentals position the asset to benefit from long-term appreciation following a successful stabilization.
Property Facts
| Sale Type | Investment | Lot Size | 1.04 AC |
| No. Units | 41 | Building Size | 27,775 SF |
| Property Type | Multifamily | Average Occupancy | 63% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1958/2017 |
| Building Class | B | Parking Ratio | 1.58/1,000 SF |
| Zoning | Z164 | ||
| Sale Type | Investment |
| No. Units | 41 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.04 AC |
| Building Size | 27,775 SF |
| Average Occupancy | 63% |
| No. Stories | 2 |
| Year Built/Renovated | 1958/2017 |
| Parking Ratio | 1.58/1,000 SF |
| Zoning | Z164 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Ceiling Fans
- Hardwood Floors
- Stainless Steel Appliances
- Framed Mirrors
Site Amenities
- Courtyard
- Laundry Facilities
- Gated
- Pet Play Area
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 33 | - | 660 |
| 2+1 | 8 | - | 750 |
1 1
Very walkable
80/100
Very drivable
80/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 000670000A09A0100 | Improvements Assessment | $2,438,055 CAD |
| Land Assessment | $3,183,145 CAD | Total Assessment | $5,621,200 CAD |
Property Taxes
Parcel Number
000670000A09A0100
Land Assessment
$3,183,145 CAD
Improvements Assessment
$2,438,055 CAD
Total Assessment
$5,621,200 CAD
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The Newport | 4950 Live Oak St
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