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Probably the Most Significant Renovation in
Oak Cliff in 30 years
Monday, Dec. 15, 2003---Dallas Mayor Laura Miller,
City Councilperson Elba Garcia, and the three investors involved in the
project announced a $20 million renovation and new construction on the
74-year-old Cliff Towers high-rise that is the centerpiece for Lake Cliff
Park and the Lake Cliff Historical District. The property is to
include 140+ apartment units as well as restaurant and retail space.
Click here to
see the Dallas Morning News article on the development.
Oak Cliff Links
Old
Oak Cliff Conservation League Links Page.
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North Oak Cliff Investor's Guide
Oak Cliff Neighborhoods
Click anywhere on the map to view North Oak Cliff neighborhoods. Use
the Back Arrow button on your browser to return to this website
Why Oak Cliff?
Oak Cliff in close-in to downtown Dallas, with easy access to downtown,
the West End, Deep Ellum, Oak Lawn, and the Bishop Arts District.
There's an abundant stock of multi-family properties, with most of them
being older, smaller properties. There are various historic
districts in Oak Cliff, each with their own little quirks.
There are abundant lakes and parks, and the atmosphere is almost
"small-town laid back". But it's being discovered. By urban
pioneers who've been working on the area for the last 30 years. By
yuppies who watch a lot of Home and Garden TV. By artists.
Musicians. Galleries. Studios. All the good signs, popping up if you
know where to find them.
Over the past 25 years, we have brokered most of the better
apartments in North Oak Cliff. Here are a few of the deals we have
done in this historic area. Click on the small pictures to display a
full-size picture of each property.
Spring Park: Kidd Springs Area Condos: Kidd Springs Area Royal Park: Kidd Springs Area Virginia Manor: Kessler Park Area Another look at Virginia Manor A third Virginia Manor building Drakemont: Lake Cliff Historical District Blaylock: Lake Cliff Historical District Greenbriar Gardens Apartments: Kessler Park area
This property is a block from Kidd Springs Lake and was in exquisite shape, largely due to a strong on-site manager. This is one of 6 buildings in the Lake Cliff Historical District that we brokered several years ago. We brokered part of the land for this development. This little gem of a property developed very good cashflow because all of the units were small. A strong resident manger gave it a real "family" feel. In the mid 1980's we placed this 156-unit property with a Ft. Worth investor who owned nearly identical units in Ft. Worth. The title showed that it was originally owned by a partnership between Trammel Crow and Winthrop Rockefeller.
Twenty years later, my buyer still owns the property and still has the same on-site manager. These units were very nice inside, with good hardwood floors in all units. This was the "cleanest" deal we have ever done. A professional buyer, a professional seller, and a professional broker all combined for a glitch-free transaction. Another property sold in the Lake Cliff area. A 14-unit property that we brokered several years ago. Another building in the 6-building 40+ unit package deal. Obviously, this is not a picture of an apartment complex. After we sold this ~40 unit building, it was eventually resold to Methodist Hospital, who razed it and is currently using it as a park. The picture is of Kidd Springs Lake. Doesn't look like Texas, does it? Sold at a near-record price in early 2004. Two blocks from the Bishop Arts District. OK, so it's not Oak Cliff. This property is in East Dallas and is currently under contract.
Spring Park: Kidd Springs Area
This property is a block from Kidd Springs Lake and was in exquisite shape, largely due to a strong on-site manager.
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How our
marketing program is different |
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March 4, 2004
One of our most common new-client
questions is, "How is your marketing different from everybody
else's?"
The income property market is a very
fragmented market. Very little MLS activity. Few
centralized listings. In order to research and locate
properties that make sense, we utilize a sophisticated, in-house
computer database of all multifamily properties in the area.
This database interfaces with our marketing and analysis software in
such a way that it allows us to zero in on likely prospects.
It goes a lot further than just
sending out mailings to area property owners. For example,
we're able to concentrate on property owners who own multiple
smaller properties. You can't do this with other people's
databases because you only see one property at a time. To do
more sophisticated searching, you've got to have your own database system.
Joe "wrote
the book" on computer database systems, so you shouldn't be
surprised to find the most sophisticated data mining operation in
the area at JP Lumbley & Associates, LLC.
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