Multifamily
Hart House
1235 Hartsdale Dr, Dallas, TX 75211
Listing Price: $9,000,000
Investment Overview
Hart House is a 94-unit property located 10 minutes from Downtown Dallas, TX that has undergone substantial renovations over the past four years and offers double digit yields with potential for short-term improvements to boost returns further. The property sits just off a major road, Fort Worth Avenue, and due to its’ proximity to Downtown, I-30, Loop 12, Interstate 35 and Interstate 20, has quick access to some of the strongest employment centers in the country. Hart House is adjacent to the bolstering Bishop Arts District and North Oak Cliff which continues to see positive momentum from public and private investment.
Hart House consists of two buildings and a stand-alone office comprised of brick veneer and siding exteriors with pitched composition shingle roofs (replaced 2023) on concrete slab foundations. The property has Two Chillwater Systems (2021/2000) and is master metered for electricity. As previously mentioned, the asset has undergone a large-scale renovation of $2,519,639, which is $27,092/unit. The renovation included replacing all cast iron water lines (sewer not fully replaced), new roof, 1 new chiller, exterior overhaul, unit enhancements and solar panels. The solar panels are self-fulfilling and have reduced electric bills by 50%.
Hart House offers a new investor the opportunity to acquire a physically improved and well-located property with double-digit returns day-one and realistic ability to enhance performance relative to the submarket. Hart House sits below other All-Bills-Paid submarket competitors rent prices by ~$130 on average but the submarket boasts an average occupancy of 95%, proving strong renter demand (see Case Study). The starkest example is Vernazza, located nearby on Davis Boulevard, has similar interior finishes and floorplans with average rents of $1,650 for 1 bed and $1,300 for 2 bed compared to $1,325 and $1,030 for Hart House. Current out-of-state ownership has been focused on renovating and stabilizing the asset, but new ownership can take quality product in a stable neighborhood and put attention towards growing NOI. The property is being offered free and clear of existing debt.
Investment Highlights
- Stabilized 94-Unit Asset 10 Minutes from Downtown Dallas with 10%+ Returns Day-One and Additional Improvement
- Over $2.5MM (~$27,000/unit) in CapEx since 2021 – New Supply Plumbing, New Roofs, Exterior, Solar Panels, Unit Enhancements and New Chiller
- Mark to Market Opportunity – Current Ownership has been Focused on Stabilization; Hart House Rents are $130 Below Submarket Averages for Similar Finish Out
- Bustling Location in North Oak Cliff Neighborhood Offers Long Term Stability – Near Bishop Arts District and Other High-Profile Developments – 4,780 New Units Within 3 Miles Since 2021
- Easy Access to Large Employment Centers, Downtown Dallas & Large Industrial Centers Along with Major Thoroughfares I-30, I-35, 1-20 and Loop 12
- Property Available Free and Clear of Existing Debt
Exclusively Listed By
Financing By
Listing Price: $9,000,000
Investment Highlights
- Stabilized 94-Unit Asset 10 Minutes from Downtown Dallas with 10%+ Returns Day-One and Additional Improvement
- Over $2.5MM (~$27,000/unit) in CapEx since 2021 – New Supply Plumbing, New Roofs, Exterior, Solar Panels, Unit Enhancements and New Chiller
- Mark to Market Opportunity – Current Ownership has been Focused on Stabilization; Hart House Rents are $130 Below Submarket Averages for Similar Finish Out
- Bustling Location in North Oak Cliff Neighborhood Offers Long Term Stability – Near Bishop Arts District and Other High-Profile Developments – 4,780 New Units Within 3 Miles Since 2021
- Easy Access to Large Employment Centers, Downtown Dallas & Large Industrial Centers Along with Major Thoroughfares I-30, I-35, 1-20 and Loop 12
- Property Available Free and Clear of Existing Debt
Investment Overview
Hart House is a 94-unit property located 10 minutes from Downtown Dallas, TX that has undergone substantial renovations over the past four years and offers double digit yields with potential for short-term improvements to boost returns further. The property sits just off a major road, Fort Worth Avenue, and due to its’ proximity to Downtown, I-30, Loop 12, Interstate 35 and Interstate 20, has quick access to some of the strongest employment centers in the country. Hart House is adjacent to the bolstering Bishop Arts District and North Oak Cliff which continues to see positive momentum from public and private investment. Hart House consists of two buildings and a stand-alone office comprised of brick veneer and siding exteriors with pitched composition shingle roofs (replaced 2023) on concrete slab foundations. The property has Two Chillwater Systems (2021/2000) and is master metered for electricity. As previously mentioned, the asset has undergone a large-scale renovation of $2,519,639, which is $27,092/unit. The renovation included replacing all cast iron water lines (sewer not fully replaced), new roof, 1 new chiller, exterior overhaul, unit enhancements and solar panels. The solar panels are self-fulfilling and have reduced electric bills by 50%. Hart House offers a new investor the opportunity to acquire a physically improved and well-located property with double-digit returns day-one and realistic ability to enhance performance relative to the submarket. Hart House sits below other All-Bills-Paid submarket competitors rent prices by ~$130 on average but the submarket boasts an average occupancy of 95%, proving strong renter demand (see Case Study). The starkest example is Vernazza, located nearby on Davis Boulevard, has similar interior finishes and floorplans with average rents of $1,650 for 1 bed and $1,300 for 2 bed compared to $1,325 and $1,030 for Hart House. Current out-of-state ownership has been focused on renovating and stabilizing the asset, but new ownership can take quality product in a stable neighborhood and put attention towards growing NOI. The property is being offered free and clear of existing debt.
Exclusively Listed By
Financing By

