Listed by Perry Guest Investment Services
$1,595,000
5200-5210 Reiger Ave
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 16,154
Units 32
Price per SqFt $99
Broker Co-Op Yes
Year Built 1930
Buildings 4
Stories 2
Acreage 1.160
Zoning PD 97 - MF-2(A)
Investment Type Value Add
Prime East Dallas Portfolio – Full City Block Opportunity
Marketing description
Located in Munger Place Historic District, one of the most desirable historic neighborhoods in East Dallas, this offering presents a rare opportunity to acquire four contiguous properties spanning an entire city block—totaling over 50,000 square feet of land.
The portfolio consists of four buildings currently operating as a rooming house with 50 rooms, with an on-site manager in place. Current rents range from $550–$650 per month, providing immediate in-place income with operational upside.
This is a highly flexible investment with multiple exit strategies in a high-demand submarket.
*As-Is Sale
*Cannot tear down buildings, only renovate
Investment highlights
- Scale & Location: Full-block assemblage in a premier historic district (50,000+ sqft)
- In-Place Cash Flow: Stabilized rooming house operations with management onsite
- Value-Add Potential: Increase rents and optimize current rooming house operations
- Repositioning Opportunity: Convert to traditional long-term multifamily or residential use
- Redevelopment Upside: Redevelop and sell individually (two single-family homes + two multifamily buildings)
Listing Contacts
Listed by Perry Guest Investment Services
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