3245 SIMPSON STUART RD Dallas TX 75241-5000

Homes of Persimmons presents a unique opportunity to purchase a true value add property. The property is 75% LIHTC and 25% market rate. The buyer has an opportunity to reduce the existing loss-to-lease and stabilize vacancy.

The property was built and placed-in-service in 2000. It is well located, close to all the necessary amenities including supermarkets, medical centers pharmacies, high frequency transportation hubs, schools, and public libraries. Homes of Permission consists of 32 buildings built in 2000. The property has a total of 60 two-bedroom units, 80 three-bedroom units, and 40 four-bedroom units.

Common area amenities include a swimming pool, playground, basketball court, picnic area, clubhouse, fitness center, and leasing cents with onsite property manager. Units feature many upgrades and include in-unit wash/dryer hook-ups, direct access to a one car garage, and central air conditioning. Property provides 519 grade level parking spaces for its residents and is situate on 22.14 acres.

The property’s location is ideal for easy access to downtown Dallas and local amenities, such as the Methodist Charlton Medical Center, The University of North Texas at Dallas, and Dallas Executive Airport convenient accessibility to major distribution and employment corridors, including both I-20 and I-45. Furthermore, this area is home to major corporations for employment such as L’Oreal, Proctor & Gamble, Pepsi, Kohls, and Amazon.

75% of units under LIHTC LURA through 2064; 25% market rate

Placed in service in 2000; eligible for reysndication

Opportunity to assume existing loan with favorable interest rate

Opportunity for value-add by reducing loss -to-lease and stabilizing vacancy

All two, three, and four bedroom units