Southwest Apartments
304 Norman Drive,
Euless , TX 76040
 
$4,350,000
Offering Price
47,600
Building SF
$60,417
Price Per Unit
1963
Year Built
72
Number of Units
$1.44
Avg Actual Rent/SF/Month
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$4,350,000
Offering Price
47,600
Building SF
$60,417
Price Per Unit
1963
Year Built
72
Number of Units
$1.44
Avg Actual Rent/SF/Month
Investment Summary
Outstanding investment opportunity. Weekly billing provides increased revenue stream – Residents are required to sign a Texas Apartment Association (TAA) lease with weekly billing and payment arrangements. This structure allows for 4 additional revenue weeks annually and provides the property management insight quickly into potential collection issues. Fully furnished - The apartments are fully furnished which facilitates a quick make ready process. Each unit comes standard with refrigerator, microwave, electric range/oven, dressers, beds, tables, chairs, etc. Excellent floor plan mix – 44% of the units are one bedroom, 56% are two bedroom, Rents range from $229 to $249 weekly which are very affordable multifamily price points to this submarket. The Property is offered free and clear of existing debt OR can be purchased at a significant discount if the new buyer assumes the existing Freddie Mac agency loan (See Financing Section for details).
Investment Highlights
UNDER CONTRACT We had an overwhelming response from buyers and were Under Contract in a matter of days!! Call us if we can be of service or provide a Broker Opinion of Value for your property. Thank you for your interest. Have a great July 4th Holiday!!
Location Summary
72 Multifamily units in the Mid-Cities located one block from Highway 183 and in very close proximity to Highway 360, 161 and 121. The property is well positioned with close access to the main traffic arteries of the Dallas Fort Worth Metroplex.
Outstanding investment opportunity. Weekly billing provides increased revenue stream – Residents are required to sign a Texas Apartment Association (TAA) lease with weekly billing and payment arrangements. This structure allows for 4 additional revenue weeks annually and provides the property management insight quickly into potential collection issues. Fully furnished - The apartments are fully furnished which facilitates a quick make ready process. Each unit comes standard with refrigerator, microwave, electric range/oven, dressers, beds, tables, chairs, etc. Excellent floor plan mix – 44% of the units are one bedroom, 56% are two bedroom, Rents range from $229 to $249 weekly which are very affordable multifamily price points to this submarket. The Property is offered free and clear of existing debt OR can be purchased at a significant discount if the new buyer assumes the existing Freddie Mac agency loan (See Financing Section for details).
FOR MORE DETAILS CONTACT
Marshall Baker
Managing Director
(214) 491-7007
mbaker@anthemcre.com
620649
Chris Miller
Managing Director
(214) 433-4368
cmiller@anthemcre.com
721606
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