MLS 21313341
2308 Britton Drive
Dallas, Texas
$499,000
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Type: Residential Income
Beds: 6 Baths: 5.00
SqFt: 2,617
Remarks: This exceptional Dallas multifamily investment opportunity at 2308 Britton Avenue is priced to clear the market at a highly attractive $499,000, breaking the critical sub-$100k price-per-door barrier while delivering powerful, immediate cash flow. The unique property configuration features a main fourplex containing four separate 1-bedroom units , alongside a completely detached 2-bedroom, 1-bathroom single-family house situated at the back of the lot. The entire property benefits from a comprehensive $125,000 renovation in 2023 consisting of new paint, flooring, cosmetics, brand-new mini-splits in Units 1 and 2, and brand-new central HVAC systems in Units 3, 4, and 5. Investor flexibility is maximized as all current leases are strictly month-to-month, and the property is delivered with Unit 1 and Unit 4 completely vacant, allowing a buyer to immediately lease them out at top-of-market rental rates to maximize the building's true yield potential. The current income stream on this asset is remarkably strong, with Unit 2 occupied at $1,200 per month, Unit 3 leased at a steady $1,150 per month, and the detached back house (Unit 5) pulling $1,575 per month. While the property was previously operated as a Airbnb, it has since been transitioned away from short-term rentals, though the underlying infrastructure remains perfectly optimized for a buyer wanting to re-enter that lucrative short-term or mid-term travel nurse housing space. Furthermore, a massive, built-in value-add opportunity exists because the landlord currently covers utility expenses; by simply implementing a Ratio Utility Billing System (RUBS) or passing these metered utility costs back to the month-to-month tenants, an incoming owner can instantly eliminate a major operational expense line item and force the net operating income and cap rate straight upward without spending a single dollar on physical renovations.
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Listed by: Jett Waters
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