Price Upon Req.193,792 SF
Providence is a 244 unit community built in 1980 on 8.37 acres in Dallas, TX. The property features eight unique one and two bedroom floor plans (including 40 townhomes) that create a spacious average unit size of 794 sf. 124 units (all except the two smallest floor plans) are equipped with full sized washer/dryer connections. The property offers excellent amenities including a separate leasing office, clubhouse, swimming pool, fitness center, business center, sport court, playground, laundry center and secured entry gates. Providence is currently 93% occupied and has experienced a strong trend in revenue throughout 2014 and into 2015. This increase in revenue has come despite the lack of a formal upgrade program at the property. Based on the analysis of rental comparables, the market can support rental increases of at least $100 on our one bedroom floor plans and $150 on our two bedrooms. A new owner will be able to capitalize on this upside in a market where upgraded units are all receiving much higher rental premiums. Providence is offered free and clear, allowing a buyer to acquire with historically low cost, permanent financing.
Price Upon Req.168,968 SF
Plaza Del Lago is a 320 unit asset built in 1982 in Dallas, TX and is currently 95% occupied. The property experienced an upward trend in income in 2014. Rents were recently increased at the property. New leases are being signed $45 higher per month than the effective rents per the rent roll. Plaza Del Lago is a stable asset that offers buyers proven upside in burning this loss to lease as well as the opportunity to push rents through further interior upgrades. The property has a history of maintaining high occupancy due to low turnover at the property and strong local economy. Plaza del Lago is offered free and clear of existing financing, allowing buyers unrestricted debt options in an extremely competitive financing environment. Please contact us for quotes we have already obtained.
Price Upon Req.300,512 SF
Highland Road Village is a 332 unit community \in Dallas, TX. The property is situated on 24 acres with great visibility on the heavily travelled Cockrell Hill Rd. There is little competition in the submarket and Highland Road Village benefits from some of the largest floor plans in the submarket at 905 sf average. Highland Road Village is currently 95% occupied. Highland Road Village has experienced a strong upward trend in revenue during 2014 as income is up 12% in December 2014 from January. New ownership has the opportunity to implement an interior upgrade program to achieve rents more in-line with the competitors. Based on the analysis of the rent comparables, the market can support rental increases of more than $60+ for one bedroom units and over $120 for the two bedroom units. Recommended upgrades include faux wood flooring, resurfaced countertops, staining/painting cabinets, upgraded lighting and brushed nickel fixtures. Highland Road Village current loan is roughly 6,650,000 at 6% interest with over 7 years left on the term. Along with this assumption, a new owner can place a supplemental loan to increase leverage.
The subject property is an eight unit apartment complex located in an up and coming area in East Dallas close to lower Greenville. The property is vacant. This is a value-add opportunity with a substantial upside once the upgrades and lease up are complete. The owner has completed some interior updates/repairs. According to Dallas County Appraisal District, the two story asset has 3,782 sqft of net leasable space and 6,950 sqft of land. The structure was built in 1962 and is zoned MF-2. The roof is pitched with composite shingles. There are four 1 bedroom/1 bath units and four studio/1 bath units. The units are individually metered for electricity. Some of the interior updates include flooring, paint, drywall, cabinets, wiring and breaker boxes (close to completion), doors and windows.
2 Story, 2 Bedroom, 2.5 Bath, 966 Sq Ft Town-home Units - North Dallas Location. Close to High Five Interchange (I-635 & Hwy 75) - Richardson Independent School District - Individually Metered for Electricity - Individual HVAC and Water Heaters - Pitched Roof, All Brick Exterior - Individually Parceled Condos - Potential to sell as individual units (Buyer to verify) - Over $75,000 in Capital Improvements - New Roof in 2012 - Most Units Renovated in Last 2 Years - 26 Parking Spaces - 6 Camera Surveillance System - Cap Rate and GRM based on Proforma (End of Year 1)
Price Upon Req.15,660 SF
* Recently Renovated * Irreplaceable Infill Location - Within 1 Mile of Dallas Medical District - Minutes from Dallas CBD * Top Submarket Fundamentals * Surrounded by Newly Developed High-end Properties
The offering is a portfolio of three income producing apartment complexes totaling thirty two units. They are conveniently located to employment centers and highways. The properties are in the path of progress (less than half a mile) of high end lofts and apartments, restaurants and bars, retail and services on the south side of the CBD. Electricity is individually metered and paid by the tenants. The first property is a twelve unit complex with twelve 1 bed/1 bath units. The two story structure was built in 1960. The roof is pitched, covered with composition shingles. The second property is an eight unit complex with seven 2 bed/1 bath units and one 1 bed/1 bath unit. The two story structure was built in 1964. The roof is pitched, covered with composition shingles. The third property is a twelve unit complex with four 2 bed/1 bath units and eight 1 bed/1 bath units. The two story structure was built in 1964. The roof is flat, covered with tar and gravel.
Over 43000 square feet of value add net leasable area consisting of 67 units now available for sale in the huge redevelopment area of Oaklawn. The gated property sits on over an acre and a half surrounded by class A apartments and future developments. Huge upside potential in renovating the remaining 57 units and pushing rents. Property is key card controlled accessed featuring 6 0ne-bedroom floor plans with a resort like pool and covered garage style parking. 19 units are 2 story town homes style units. There are 38 private parking/covered parking spots with remote access. This property is situated directly behind prime retail shopping. Walking distance to restaurants and bars. Resturants include sals pizza, dickeys bbq, Oushi sushi Property has major upside
Luscious foliage and sparkling pool center this corner marquee property in the rapidly developing Oak Lawn area. Property consists of 18 units with balconies and patios and a bungalow home residing on 25,567 square feet of land. The Delano has been gated with controlled access, landscaped and irrigated, corrugated metal siding, and professionally renovated in 2001. Primed for either redevelopment or long term hold strategy. Units have wood flooring, carpeted bedrooms, and gas ranges. Complex is surrounded by Class A apartments and high end town homes.
This is a 16 unit apartment building that sits on 24,000 feet of land. The building consists of 16 two bedroom one baths. All of the units have been remodeled with wood floors, all new kitchens and bathrooms. The property is secured and gated. Other improvements include new 30 year roof, and new lanscaping with a sprinkler system.