Colliers Houston has negotiated the sale of a single family rental home portfolio in the heart of the thriving East Dallas neighborhood located within the 635 Loop and Lyndon B Johnson Freeway, between Interstate 30 and 45. The portfolio was a 35 unit listing consisting of 35 homes with two additional duplexes. The 100% occupied collection of homes offered an ideal investment portfolio with room for growth with the average year built in 1967.
“Investor interest in the single family rental space has been tremendous, especially in top markets like Dallas.” says Jim Humphries of Colliers. “That interest was borne out in the activity and pricing for this particular portfolio of homes.”
With waves of renters moving from apartments to single family rentals due to pandemic restrictions and changing demographics, demand for renters wanting more space in the suburbs outside of dense cities is at a all-time high. The market is pushing for affordability in housing, further fueling interest in single family rentals.
Humphries represented the seller, Colton Properties, LLC in the sale. The buyer was Pagaya, a New York based investment group.