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4115 GILBERT AVENUE
OFFERING MEMORANDUM
COLLIERS INTERNATIONALALLEN MULTIFAMILY TEAM
Dallas, TX 75219
PROSPECTIVE INVESTORS WISHING TO MAKE AN OFFER ARE REQUESTED TO SUBMIT:
> Letter of Intent
> Resume and/or business letter indicating recent or current assets owned
> Transaction references
> Banking references
> Source of equity for acquisition
INTEREST OFFERED One hundred percent fee simple interest in 4115 Gilbert Avenue, Dallas, TX 75219, a vacant 3,952 square foot multifamily asset sitting on 0.18 acres.
TERMS
4115 Gilbert Avenue is being offered as an all cash transaction.
PROPERTY TOURS
Prospective investors are encouraged to visit the subject property prior to submitting an offer. All property showing are by appointment only. Please contact your Colliers International agent for more details.
SALE CONDITIONS
Interested prospective investors should be aware that the owner of the property is selling the property in an as is, where is condition with all faults, if any, and without representations or warranties of any kind or nature, expressed or implied, written or oral.
OFFER DUE DATE
The owner of 4115 Gilbert Avenue has requested that all offers be submitted. The call for offers date has yet to be determined.
COMMUNICATIONS
All communications, inquiries and requests, including property tours, should be addressed to the list agents.
Primary Listing Agents
Mark Allen, CCIMSenior Vice President972 759 7835 [email protected]
Madeleine Aufricht Associate214 706 [email protected]
COLLIERS INTERNATIONAL | OFFERING MEMORANDUM P. 3
OFFERING PROCEDURES
The Allen Multifamily Team at Colliers International is pleased to present the Oak Lawn Covered Land Play located at 4115 Gilbert Ave. Dallas, TX 75219. The asset is in walking distance to restaurants, various retailers, Turtle Creek Park, and Parkland Hospital with easy access to Dallas North Tollway and US 75.
The rare parcel has 7,999 square feet with MF-2 zoning. Located in the highly coveted Oak Lawn area, the seller was previously operating as an 8-unit dwelling. The existing structure can possibly be upgraded, repurposed, or demolished. Any plans will have to be approved by the City of Dallas.
According to a recent study by the Hoyt Advisory Study, which was commissioned by the National Apartment Association and the National Multifamily Housing Council, the Dallas-Fort Worth area needs to build 19,000 apartments annually to keep up with demand. As a whole, DFW’s apartment market experienced rental rate growth of 4.4% over the past 12 months, according to ApartmentData.com.
Area multifamily assets developed between 2015-Present are achieving effective rents as high as $2.76 per square foot and average effective rents at $2.10. This delta in effective rents can be attributed to the asset’s amenities. Area land transactions are trading as high as $372 per square foot with an average of $252 per square foot.
Investors that desire multifamily assets in premiere locations should strongly consider the Oak Lawn Covered Land Play.
COLLIERS INTERNATIONAL | OFFERING MEMORANDUM P. 9
THE OFFERING | OFFERING SUMMARY
HOLLAND AVE
P. 12 COLLIERS INTERNATIONAL | OFFERING MEMORANDUM
THE OFFERING | INVESTMENT HIGHLIGHTS
Multifamily ZoningMF-2
New Units or Redevelop Existing
ABILITY TO DEVELOP
LOCATION, LOCATION, LOCATIONOAK L AWN AREA MULT IFAMILY OPPORTUNITY
HIGHLY DESIRED
HISTORICAPPRECIATION & DEMAND
NEARBY TURTLE CREEK PARK, RETAILERS, OAK L AWN & LEMMON AVE
AVONDALE AVE
GILBERT AVE
HOLLAND AVEKNIGHT S
T
COLLIERS INTERNATIONAL | OFFERING MEMORANDUM P. 13
THE OFFERING | SITE PLAN
COLLIERS INTERNATIONAL | OFFERING MEMORANDUM P. 15
THE OFFERING | UNIT PHOTOS
PLAZA ON OAK LAWN
WEST VILLAGE
HIGHLAND PARK VILLAGE
EQUINOX HIGHLAND PARK
COLE PARK
TURTLE CREEK PARK
LAKESIDE PARK
CRADDOCK PARK
PRATHER PARK
EDDIE V’S PRIME SEAFOOD
TAVERNAAL BIERNAT’SWHOLE FOODS
MARKET
BOB’S STEAK & CHOP HOUSE
JAVIER’S GOURMET MEXICANO
4115 GILBERT AVENUE
P. 16 COLLIERS INTERNATIONAL | OFFERING MEMORANDUM
THE OFFERING | LOCATION AERIAL
N
COLLIERS INTERNATIONAL 1717 McKinney Ave, Suite 900
Dallas, TX 75202colliers.com
ALLEN MULTIFAMILY TEAM
MARK ALLEN, CCIMSenior Vice President
972 759 [email protected]
COURTLAND CHARLESAssociate
214 217 [email protected]
AMAR HAYER, MBAAssociate
469 888 [email protected]
SCOTT SMITHAssociate
214 217 [email protected]
MADELEINE AUFRICHT Associate
214 706 [email protected]
ABIGAIL PERRINIFinancial Analyst
214 217 [email protected]