THE BOHEME APARTMENTS
1222 N BECKLEY AVE, DALLAS, TX
$66,391,100
2025 Appraised Value
Executive Summary: The Boheme Apartments
The Boheme presents a core risk that transcends its strong asset quality: operational deterioration masked by leasing-stage customer service. A 4.6 Google rating conceals a bifurcated tenant experience where front-desk excellence (staff-driven five-star reviews) coexists with systemic maintenance failures (ceiling leaks, pest infestation, security breaches) cited consistently by longer-tenured residents—signaling either aggressive deferred maintenance or rapid quality decay post-opening. Financially, the property trades at $188.6K per unit with minimal land value (5.8%), a 2025 appraisal that lacks historical benchmarking to assess whether pricing reflects market softening or normalized stabilization. Market fundamentals are mixed: the 1-mile micromarket is densely renter-occupied (67.5%) and price-sensitive (36.7% earn under $50K), creating lease-renewal headwinds if management deterioration accelerates; however, the 45-unit pipeline (12.8% of inventory) faces execution delays that mitigate near-term occupancy pressure. Location is genuinely walkable (Walk Score 77) but transit-constrained (Transit Score 53), capping upside positioning versus Class A downtown comps.
Read: Watch-list pending management audit. If deferred maintenance is strategic and reversible under new ownership, this is a solid stabilized acquisition; if the property is experiencing unforced operational decline, capital intensity and lease turnover risk make this a pass.
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Every Feature Designed to Elevate Your Lifestyle
Luxury apartment community in the Bishop Arts District featuring amenities that blend luxury with intentional design. Pet-friendly community with rooftop lounges, fitness center, smart home features, and walkable access to Lake Cliff Park. Luxury apartments in the heart of Oak Cliff's Bishop Arts District, one of Dallas's most walkable neighborhoods. Step outside your door and into a world of over 60 boutique shops, chef-owned restaurants, and street-level art. With the Dallas Streetcar just blocks away, downtown Dallas is minutes from home.
The Boheme is a newly constructed Class A property with zero value-add potential. Built in 2022, all 34 analyzed photos show consistent modern finishes: white quartz countertops, contemporary slab cabinetry, stainless steel appliances, and subway tile backsplash across units. Amenities are resort-caliber—rooftop pool with city/waterfront views, modern lounge areas, and built-in outdoor kitchens—positioning this as a premium urban asset. With 20 of 34 photos rated "excellent" condition and fresh paint throughout, this property is lease-up or stabilized-phase institutional product, not a renovation candidate.
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Location Analysis – THE BOHEME APARTMENTS
The property's Walk Score of 77 and Bike Score of 68 position it in a genuine urban/mixed-use corridor where car dependency is reduced—a meaningful amenity for younger renters and cost-conscious households. However, the Transit Score of 53 signals meaningful gaps in public transportation connectivity; while serviceable, this moderate score limits appeal to transit-dependent tenants and underperforms relative to Dallas's highest-density submarkets. Without rent data, the walkability-to-affordability alignment cannot be assessed, but a 352-unit apartment building at this walkability level typically commands a 5–12% rent premium over car-dependent comps in the Dallas market. The location likely serves young professionals and empty-nesters prioritizing walkable lifestyle over downtown proximity, but transit constraints will cap upside for transit-first positioning.
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Pipeline presents moderate near-term headwind; execution risk mitigates threat. The 45-unit pipeline represents 12.8% of The Boheme's 352-unit inventory, a meaningful but not acute supply pressure. However, permit status across the 15 projects suggests extended timelines—most are in early stages (revisions required, payment due, document received as of March 2026), reducing probability of synchronized deliveries that would suppress occupancy and rents simultaneously. The scattered geography across multiple Dallas 75200-series ZIP codes indicates fragmented competition rather than concentrated submarket saturation, limiting direct cannibalization of this property's lease-up or rate growth.
| Distance | Address | Description | Status | Filed |
|---|---|---|---|---|
| 0.3 mi | 1111 N MADISON AVE | QTEAM MEETING 10.22.2025 New construction of a 4 unit condo | Inspection Phase | Aug 18, 2025 |
| 0.5 mi | 719 N ZANG BLVD | New Construction multi family apartment | Inspection Phase | Apr 11, 2023 |
| 0.5 mi | 701 N LANCASTER AVE | New construction 16 condos | Payment Due | Oct 25, 2023 |
| 0.6 mi | 909 E COLORADO BLVD | New construction multifamily. | Inspection Phase | Feb 04, 2025 |
| 0.6 mi | 400 N LANCASTER AVE | New construction of 16 unit multifamily. | Inspection Phase | Jan 28, 2025 |
| 0.6 mi | 312 N LANCASTER AVE | New Construction 16 Multifamily | Payment Due | Jan 19, 2023 |
| 0.7 mi | 313 N BECKLEY AVE | QTeam Review, New Multifamily | Revisions Required | Jan 02, 2024 |
| 0.7 mi | 117 W 8TH ST | A new construction of four units to include three single ... | Revisions Required | Sep 16, 2025 |
| 0.7 mi | 115 W 8TH ST | A new construction of four units to include three single ... | Revisions Required | Sep 16, 2025 |
| 0.7 mi | 111 W 8TH ST | A new construction of four units to include three single ... | Revisions Required | Sep 16, 2025 |
| 0.8 mi | 217 MELBA ST | Multifamily residential building with 99 units, 4 floors ... | Inspection Phase | Dec 02, 2024 |
| 0.8 mi | 911 E 8TH ST | QTEAM MEETING 6.5.2025 - 20 unit new construction multifa... | Payment Due | May 16, 2025 |
| 0.8 mi | 230 MELBA ST | NEW CONSTRUCTION IMPROVEMENTS FOR A (4) DWELLING UNIT, MU... | Inspection Phase | Jun 18, 2025 |
| 0.9 mi | 504 W 9TH ST | New Construction of 9 condos | Inspection Phase | Jun 18, 2024 |
| 0.9 mi | 416 W 9TH ST | New construction 8-unit townhomes | Revisions Required | Oct 07, 2024 |
| 0.9 mi | 516 W 9TH ST | Multifamily Townhomes | Document Received | Mar 11, 2026 |
| 0.9 mi | 525 MELBA ST | QTEAM MEETING 8.4.2025 1:30PM To Build 5 (4 story) Condom... | Inspection Phase | Jun 23, 2025 |
| 1.0 mi | 125 N ADAMS AVE | New Construction MF 9 condos | Inspection Phase | Jun 18, 2024 |
| 1.0 mi | 508 W 9TH ST | Multifamily Townhomes | Document Received | Mar 11, 2026 |
| 1.0 mi | 419 W 10TH ST | QTEAM MEETING 11.6.2025 New Construction - multifamily -... | Inspection Phase | Sep 29, 2025 |
| 1.2 mi | 1510 E 11TH ST | Mixed-use residential and retail project with 204 units a... | Inspection Phase | Sep 29, 2021 |
| 1.2 mi | 820 VIOLA ST | New construction of 26 DWU, 3 story multifamily developme... | Revisions Required | Mar 10, 2025 |
| 1.4 mi | 713 W 12TH ST | NEW CONSTRUCTION, FOUR APARTMENTS TOTAL OF 1917 SQ. FT. | Revisions Required | Jun 18, 2024 |
| 1.5 mi | 210 W SUFFOLK AVE | 4-UNIT TOWNHOUSE DEVELOPMENT WITH THE SAME DESIGN AND LAY... | Revisions Required | May 13, 2025 |
| 1.9 mi | 952 S CORINTH ST RD | QTEAM MEETING 3.12.2026 (1:30 PM) - REFERENCE SITE PLAN #... | Revisions Required | Feb 20, 2026 |
| 1.9 mi | 510 W 10TH ST | QTEAM MEETING 6.4.2025 New construction of 24 unit multif... | Inspection Phase | May 12, 2025 |
| 2.0 mi | 1405 SEEGAR ST | (7) four story townhomes. Site development including driv... | Revisions Required | Jun 12, 2025 |
| 2.2 mi | 2708 PARNELL ST | QTEAM MEETING TBD New Construction of 21 units of multifa... | Payment Due | Feb 18, 2026 |
| 2.2 mi | 1900 S ERVAY ST | MANUAL CONVERSION: 1903061211 - EC, FS, FA, PL, ME, EL, G... | Inspection Phase | May 13, 2025 |
| 2.3 mi | 2705 CLEVELAND ST | The 2705 Cleveland project is a multi-unit urban infill r... | Payment Due | Dec 22, 2025 |
| 2.3 mi | 1819 LEAR ST | PROJECT CONSIST OF (2) 5 UNIT 4-STORY NEW CONSTRUCTION TO... | Revisions Required | Nov 24, 2025 |
| 2.3 mi | 3500 W COLORADO BLVD | QTEAM Add carports to multi-family project | Inspection Phase | Sep 29, 2025 |
| 2.3 mi | 2220 S ERVAY ST | NEW GROUND UP MULTIFAMILY DWELLING, FIVE-STORY WITH 315 A... | Payment Due | Feb 12, 2025 |
| 2.3 mi | 2013 JACKSON ST | ***Manual Recreation*** 1906051126*** - New Multifamily C... | Inspection Phase | Jul 10, 2025 |
| 2.3 mi | 2829 GOULD ST | The proposed work includes the construction of three-stor... | Revisions Required | Jun 26, 2025 |
| 2.4 mi | 1724 S DENLEY DR | Two Story Multifamily New Construction | Revisions Required | Dec 15, 2025 |
| 2.4 mi | 1919 S HARWOOD ST | QTEAM MEETING 1.29.2026 (1:30 PM) 4 story multifamily apa... | Revisions Required | Dec 29, 2025 |
| 2.4 mi | 1905 CORINTH ST | QTEAM MEETING 11.6.2025 (1:30 PM) Two four story multifam... | Revisions Required | Sep 19, 2025 |
| 2.4 mi | 2095 S HARWOOD ST | THE PROJECT CONSISTS OF NEW CONSTRUCTION IMPROVEMENTS FOR... | Payment Due | Jul 18, 2023 |
| 2.6 mi | 720 S GOOD LATIMER EXPY | Q Team Review New construction of a 21 level residential ... | Plan Review | Jan 31, 2023 |
| 2.7 mi | 3031 N HARWOOD ST | QTEAM MEETING 9.4.2025 3131 N Harwood For Office and 303... | Revisions Required | Jul 21, 2025 |
| 2.8 mi | 2621 SOUTHERLAND AVE | NEW 180 UNIT APARTMENT COMPLEX | Inspection Phase | Aug 12, 2024 |
| 2.9 mi | 1412 METROPOLITAN AVE | The proposed work includes the construction of 2 two-stor... | Inspection Phase | Sep 19, 2025 |
| 2.9 mi | 1701 S MALCOLM X BLVD | Q-Team Review, new Construction of two-story structure co... | Inspection Phase | Nov 18, 2021 |
| 3.0 mi | 2702 MCKINNEY AVE | 2700 McKinney - 21 Story Mixed Use Tower Including Retail... | Payment Due | Jun 09, 2022 |
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Financial Estimates
Estimated from loan records, rental listings, and appraisal data using industry-standard assumptions.
Sale & Valuation
- Est. Sale Price
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- Sale $/Unit
- —
- Value YoY
- —
- Implied Cap Rate ⓘ
- —
- Est. Cap Rate ⓘ
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Operating Income
- Gross Potential Rent ⓘ
- —
- Est. Vacancy ⓘ
- —
- Submarket Vac. ⓘ
- 5.7%
- Eff. Gross Income
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- OpEx Ratio ⓘ
- 55%
- Est. NOI
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- NOI/Unit
- —
Debt & Taxes
- Taxes/Unit ⓘ
- $4,715/yr
- Est. DSCR ⓘ
- —
Submarket Benchmarks
📊Computed from nearby properties within 3 miles of similar vintage
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Property Summary
THE BOHEME APARTMENTS is a 2022 podium-style development with 352 units across 8 stories in Bishop Arts District, featuring wood-frame construction with brick exterior and 358.6K SF gross building area. Positioned as a luxury asset in EXCELLENT condition, the property includes smart home features, rooftop lounges, fitness center, and fenced dog park with wash station; no weight restrictions on pets (two-pet maximum). The Walker Score of 77 reflects direct access to Lake Cliff Park and 60+ retail/dining venues within the walkable Bishop Arts District, one of Dallas's highest-demand urban neighborhoods. Utilities structure and parking type are not specified in available data.
Property Details
- Account #
- 003341001905A0000
- Market
- Dallas County, TX
- Building Class
- APARTMENT (BRICK EXTERIOR)
- Building Style
- Podium
- Construction
- D-WOOD FRAME
- Quality
- EXCELLENT
- Condition
- EXCELLENT
- Stories
- 8
- Gross Building Area
- 358,627 SF
- Net Leasable Area
- 278,837 SF
- Neighborhood
- UNASSIGNED
- Last Sale
- March 18, 2025
- Place ID
- ChIJt-P97UaZToYRrBr98ZQ_0eU
- Business Status
- Operational
- Enriched
- about 2 months ago
Owner Information
- Owner
- LAVILLA HOUSING FINANCE CORP
- Mailing Address
-
ATTN: PRESIDENTLA VILLA, TEXAS 785620000
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Rental Performance
Available Units Over Time
Latest Scrape (Mar 24, 2026)
Fees
| Unit | Beds | Baths | Sqft | Rent | Status | Listed | Days |
|---|---|---|---|---|---|---|---|
| A1 | 1BR | 1 | 590 | — | Inactive | Mar 24 | — |
| A3.6 | 1BR | 1 | 703 | — | Inactive | Mar 24 | — |
| A4.1 | 1BR | 1 | 730 | — | Inactive | Mar 24 | — |
| A6 | 1BR | 1 | 776 | — | Inactive | Mar 24 | — |
| A7 | 1BR | 1 | 794 | — | Inactive | Mar 24 | — |
| A10 | 1BR | 1 | 941 | — | Inactive | Mar 24 | — |
| B2 | 2BR | 2 | 1,076 | — | Inactive | Mar 24 | — |
| B2.1 | 2BR | 2 | 1,130 | — | Inactive | Mar 24 | — |
| B2.2 | 2BR | 2 | 1,144 | — | Inactive | Mar 24 | — |
| B3.2 | 2BR | 2 | 1,228 | — | Inactive | Mar 24 | — |
| C1 | 3BR | 3 | 1,487 | — | Inactive | Mar 24 | — |
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Demographics
The Boheme sits in a dense, renter-heavy urban core with affordability constraints at the micro level. The 1-mile radius shows 67.5% renter occupancy and a compressed income distribution—36.7% of households earn under $50K against a $65.8K median—creating acute affordability pressure (26.5% ratio) despite relatively strong median incomes. This suggests the property captures price-sensitive renters in a supply-constrained micromarket rather than lifestyle affluent renters. The 3-mile and 5-mile rings broaden the income base (upper-income concentration rises to 37.5% at 3 miles) and ease affordability ratios to 24.0–24.8%, indicating the asset benefits from strategic density rather than neighborhood-level income strength. Population concentration is steep: 11.9K residents within 1 mile versus 130.4K at 3 miles, signaling a tight infill location where demand hinges on density and transit access rather than suburb-wide growth.
1-Mile Radius
- Population
- 11,944
- Households
- 5,418
- Avg Household Size
- 2.27
- Median HH Income
- $65,767
- Median Home Value
- $468,101
- Median Rent
- $1,450
- % Renter Occupied
- 67.5%
- Affordability
- 26.5% (rent/income)
- Income Distribution
-
<$25k $150k+
3-Mile Radius
- Population
- 130,372
- Households
- 56,695
- Avg Household Size
- 2.28
- Median HH Income
- $69,244
- Median Home Value
- $370,058
- Median Rent
- $1,385
- % Renter Occupied
- 61.4%
- Affordability
- 24.0% (rent/income)
- Income Distribution
-
<$25k $150k+
5-Mile Radius
- Population
- 382,528
- Households
- 163,678
- Avg Household Size
- 2.49
- Median HH Income
- $68,053
- Median Home Value
- $300,005
- Median Rent
- $1,409
- % Renter Occupied
- 61.7%
- Affordability
- 24.8% (rent/income)
- Income Distribution
-
<$25k $150k+
Source: US Census ACS 5-Year Estimates (2023) · 4 tracts (1mi)
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Amenities
Pet Policy
We're a pet-friendly apartment community! We have no weight limit on our furry friends. Two-pet maximum per apartment. We partner with www.PetScreening.com for our review process. Standard breed restrictions do apply. Breed, size, weight limitations, and fee requirements do not apply to assistance animals. We comply with all applicable fair housing laws. Pet-friendly apartment community with fenced dog park and on-site dog wash
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Appraisal History
Value Trend & Per-Unit Metrics
The Boheme's sole 2025 appraisal of $66.4M implies a per-unit value of $188.6K, reasonable for a 2022 Class A asset but lacking historical context to assess appreciation or distress. Land represents only 5.8% of total value ($3.8M), typical for recently stabilized multifamily and leaving minimal redevelopment optionality. Without prior-year comparables, we cannot determine whether this valuation reflects market softening or normal NOI-based repricing post-stabilization.
| Year | Total Value | Change |
|---|---|---|
| 2025 | $66,391,100 |
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Google Reviews
Rating trajectory masks underlying operational deterioration. The 4.6 last-6-month average masks a polarized tenant base: 178 five-star reviews cluster around leasing staff (Marisa, Vicki) and recent move-ins, while 26 one-star reviews from longer-tenured residents consistently cite maintenance failures (ceiling leaks, cockroach infestation), security lapses (broken garage gate, break-ins), and declining property condition over time. The property appears to excel at customer acquisition through exceptional front-desk service but fails at retention-stage property management—a red flag for capital expenditure requirements and lease renewals. This suggests the investment thesis hinges on management intervention; current operations indicate either deferred maintenance or rapid quality degradation post-opening.
Rating Distribution
230 reviews total
Rating Trend
Reviews
Marisa is the best! Definitely made my tour experience memorable! Beautiful community!
I’ve been wanting to live here forever, and I’m so glad it’s finally happening.The front desk team, especially Vicki, have been nothing short of helpful, welcoming and most importantly kind. Can wait to start moving my stuff over!
Normally, I'd leave to another complex every 2 years or so (been a couple years already). But I really see myself here for a few more years. Clean and fairly quiet, 2 mins from a lake/bball court/tennis court...bars and restaurants are walkable. Maintenance and cleaning is always timely. Aesthetic is on point. Pool and gym are excellent. I love the private work spaces. The apt managers Viki and Marissa are very cool people and extra helpful. I have literally no complaints. Other tenants here are also very nice people. I dont see any kids running around, and I REALLY APPRECIATE THAT.
Owner response · Feb 2026
Thank you so much for your wonderful feedback! We truly appreciate you taking the time to share your experience and are thrilled to hear that you’re enjoying the community, amenities, and location. It means a lot to know that our maintenance and cleaning teams, as well as Viki and Marissa, have made a positive impact during your time here. We’re especially happy to hear that you plan to call our community home for a few more years — that’s the best compliment we could receive! If there’s ever anything you need, please don’t hesitate to reach out to our team. We’re always here to help and ensure your experience continues to be a great one. Thank you again for being a valued resident! The Boheme Team
He estado viviendo aquí por dos meses y me ha ido súper! Marissa y Vicky son siempre muy amables y dispuestas a ayudar, al igual que las demás personas que trabajan en el edificio. En general los espacios compartidos como el gym y la terraza permanecen limpios y funcionales. El dog park es conveniente, aunque suele estar siempre muy sucio ( pero es algo que corresponde a los dueños de los perros y no directamente al edificio). Tiene una muy buena ubicación, buen acceso a transporte público, parque y cerca a Bishop Arts!
Owner response · Feb 2026
¡Gracias por sus maravillosos comentarios! Nos alegra mucho que esté disfrutando de su experiencia. Marissa y Viki agradecen sus amables palabras. Atentamente, El equipo de Boheme.
I am giving two stars only because this could have been a beautiful property, but it has severely gone downhill. From the start, my experience was full of issues: during the first week, a ceiling leak ruined several of my electronics, and I was never reimbursed. I let a lot of things slide, hoping to move on gracefully, but by the end of my lease, I was very disappointed. The building is consistently dirty and poorly maintained. You have to be very careful where you step in the hallways. Dog urine, dog feces, and dead roaches are common. The hallways and elevators often smell like urine. I lived on level two, but level six was no better. I have never experienced living with roaches until this complex and let me tell you it was disturbing. I was constantly confused about where all the expensive amenity fees were going, because the property was not being maintained. On top of that, a painting I accidentally left in my unit went missing after move-out, and management brushed it off without any real investigation. When they tacked on a bunch of unnecessary charges in my last month, that was the final straw. I honestly feel bad for the leasing agents because they seem so stressed but management needs to do better. By the second half of my lease, the property felt rundown, unclean, and mismanaged. For the amount paid in rent and fees, this is unacceptable. I have had cheaper apartments that were far cleaner and better maintained. I will not live here again, and I would not recommend it anymore.
Owner response · Jan 2026
Elon, Thank you for taking the time to share your experience. I’m truly sorry to hear how disappointing and frustrating your time in our community was, especially given the expectations you had when you first moved in. What you described regarding the ceiling leak, cleanliness, pest concerns, and move-out charges is not the experience we want any resident to have. Your feedback highlights areas where we clearly fell short, and I sincerely apologize that your concerns did not feel adequately addressed while you were here. We also appreciate you recognizing the efforts of our leasing team, even amid the challenges you encountered. We take comments like yours seriously, as they help us identify where improvements are needed. If you are open to it, I would welcome the opportunity to personally review your concerns in more detail and ensure they are properly escalated. Please feel free to reach out to me directly at SNurre@Kairroi.com. I would appreciate the chance to listen, clarify what occurred, and see if there is any resolution we can provide. Thank you again for your honest feedback, and I wish you the very best moving forward. Kindest Regards, Sherryl Nurre, Community Director
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Data Sources
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