Asking Price Contact for pricing
Area Size
NOI Net Operating Income
NIY N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2006
Building Area Net
Land Area Net ()
Rentable Area
Number of units 336
Occupancy 95.0 %
Call for Offers

Asset Description

Value-Add Opportunity

  • 107 “Classic” units or 32% of the Property have white appliances, laminate countertops, and carpet floors in living areas
  • 201 units or 60% of the Property have received a light upgrade that includes stainless steel appliances, faux wood floors, and 2” blinds
  • 28 “Premium” units have stainless steel appliances, new cabinet fronts with pulls as well as quartz counter tops with under-mounted sinks in kitchen and bathrooms, new LED lighting, wood floors, 2” blinds, and USB outlets
  • Washer/dryer sets can be added to 182 units


Investment Highlights

Opportunity to Increase Rents

  • $237 discount to the competitive set
  • $190 discount to 2000+ built product in the submarket
  • 9.5% rent growth in the submarket over the previous 12 months
  • 9.9% projected rent growth over the next 12 months

Strong Surrounding Demographics

  • $129,002 average household income within a 3-mile radius
  • $306,182 average value of within a 3-mile radius
  • Population of Mansfield has increased 29% since 2010

Significant Neighboring Demand Drivers

  • Adjacent to Mansfield Towne Crossing, Mansfield Town Center, and Mansfield Pointe Shopping Center
  • Located less than five miles from Methodist Mansfield Medical Center with over 1,400 employees
  • Major employers in the immediate area include Mouser Electronics Corporate Headquarters, Lockheed Martin Missiles & Fire Control, American Airlines Corporate Headquarters, and the Great American Southwest Industrial Park
  • Approximately 20 minutes from the Fort Worth CBD

Premier School District

  • Mansfield Independent School District is ranked top 5% in the state and country
  • Every school that the Property feeds into received an “A” ranking according to Niche.com


Last Updated Date: 07 Nov 2022

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Last Updated Date: 07 Nov 2022

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