The iconic seven story apartment is being listed by CBRE in Dallas. The brick building was built in 1927 and thanks to a number of renovations, has stood the test of time.
Over the past few years, the current owners have spent over $5 million on renovations. While a number of the historic elements have been kept in place, the apartment community has tried to keep up with the more modern structures going up in the Oak Lawn/Turtle Creek section. Upgrades of late include quartz countertops, gold hardware and open floor plans with hardwood floors.
The 48 units average about $2,300 a month on rent and the occupancy rate is near 100%. Indio Management has not placed a price on the building.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.