The Brioso

Dallas, TX

Info For Buyers

Overview

Summary

Offer Price Market
Address 3627 Almazan Drive, Dallas, TX 75220
# Units 46
Rentable SF 24,938 SF
Year Built 1962
Average Effective Rent $970

The Brioso is a recently renovated, 46-unit multifamily community located in the Northwest Dallas submarket of the Dallas-Fort Worth-Arlington Metropolitan Statistical Area (MSA). The property was built in 1962, renovated in 2023, and comprises 1, two-story brick buildings with a flat roof. Spacious studio, one-bedroom, and two-bedroom floor plans are offered. Unit amenities include modern kitchens equipped with stainless steel appliances*, faux hardwood flooring, and walk-in closets. Common area amenities include laundry facilities, on-site parking, and a resident courtyard. Water and electric utilities are allocated and billed back to tenants. The grounds span 1.78 acres and feature a large open green space accented with a variety of trees and shrubs.

Stabilized Asset with Recent Upgrades Since acquiring the property in 2021, ownership has successfully stabilized operations and improved occupancy. Significant renovations, including premium unit upgrades, garden patio enhancements, new windows, and new signage, have added value and appeal.

Enhanced Community Appeal Recent exterior improvements, including a steel-framed pergola, central grill area, and xeriscaping have created a modern, comfortable outdoor living environment.

Value-Add Opportunity through Interior Upgrades Investors can unlock additional revenue by continuing the interior upgrades, such as modernizing kitchens, bathrooms, and flooring. These improvements could command rental premiums of $100 to $230 per unit, contributing to both income growth and property appreciation.

Prime Location in High-Demand Area Located in the Bachman Lake and Love Field corridor, one of Dallas' fastest-growing neighborhoods, Brioso Apartments benefits from its proximity to major highways, Dallas Love Field Airport, and premier retail centers, offering tenants urban convenience with easy access to outdoor amenities.

Strong Occupancy and Rent Growth The Dallas-Northwest submarket, where Brioso is located, boasts a high occupancy rate of 93.4% and an impressive 7.2% year-over-year rent growth in Q3 2024. This makes Brioso a prime asset in a thriving market with sustained demand for quality housing.

Offered Free and Clear of Existing Debt; Qualifies for Non-Recourse Agency Financing with Fixed and Hybrid Rate Options