Barcelona

Dallas, TX

Info For Buyers

Overview

Summary

Address 5820 Reiger Ave, Dallas, TX 75214
# Units 8
Rentable SF 6,300 SF
Year Built 1930

Ownership has recently completed a partial renovation of Barcelona in Summer 2024. This initiative began with the decision to fully replace the main gas line instead of opting for repairs, ensuring long-term reliability. Seizing this opportunity, ownership also undertook a modest interior update. This included replacing window units with mini-splits for a modern aesthetic and increased natural light. Some unit bathrooms were renovated to feature standing showers with glass dividers. Additionally, each unit’s patio received new furniture, umbrellas, and artificial grass for a vibrant and inviting outdoor space. These improvements allowed management to increase rents by as much as $110/month, or roughly 10%.

Prime Location: Barcelona is centrally located in Old East Dallas, offering easy access to Downtown Dallas, major highways, and popular neighborhoods like Deep Ellum and Lakewood.

Investment Potential: Recent partial renovations include gas line replacement, new mini-split systems, and upgraded patios, increasing rents by up to 10%. Full interior renovations present further value-add opportunities.

Strong Submarket: Old East Dallas is seeing rising property values and rental demand and second highest rent growth in Dallas with 4.9% YoY, attracting professionals and young families to its charming, high-demand neighborhoods.

Excellent Walkability: Close to the Santa Fe Trail, White Rock Lake, and Lakewood, the area offers both urban convenience and access to outdoor activities.

Financing Opportunity: The property is free of existing debt and may qualify for tax credits for future updates, making it a financially attractive option for investors.